Dive Brief: JP Morgan Chase entered into an agreement to acquire healthcare technology company InstaMed. The deal is aimed at beefing up the investment bank's capabilities in the healthcare payments arena. InstaMed built a patented, private cloud-based platform to link healthcare consumers, providers and payers. Its platform is aimed at streamlining the often confusing world of medical billing and payments. JPM announced its acquisition plans for the Philadelphia-based company Friday. The company didn't disclose a target date for the acquisition, but told Healthcare Dive it is pushing to close the deal this year. Dive Insight: Financial services powerhouse JPM wants to make a bigger mark in the healthcare payments game with the InstaMed buy. The corporate giant is known in healthcare services for being one of the three companies to launch Haven, which aims to bring down employee healthcare costs, to great fanfare in January 2018. The InstaMed deal will expand the global … [Read more...] about JP Morgan expands footprint in healthcare payment game
Payment platform providers
By R.A. Schuetz Published 9:46 am CDT, Wednesday, April 3, 2019 iBuyers that have been buying Houston homes are now moving into the mortgage market. Opendoor, which has been in the Houston market since July 2018, bought and listed a townhome in Rice Military. iBuyers that have been buying Houston homes are now moving into the mortgage market. Opendoor, which has been in the Houston market since July 2018, bought and listed a townhome in Rice Military. Photo: Nancy Sarnoff / Houston Chronicle Photo: Nancy Sarnoff / Houston Chronicle Image 1 of / 1 Caption Close Image 1 of 1 iBuyers that have been buying Houston homes are now moving into the mortgage market. Opendoor, which has been in the Houston market since July 2018, bought and listed a townhome in Rice Military. iBuyers that … [Read more...] about Zillow will buy your home. Now it will also provide financing for your next one.
Brief Dive Brief: Lyft is partnering with blockchain startup Solve.Care to increase access and options around nonemergency medical transportation for the health IT company's virtual wallet holders. By integrating with Lyft, Solve.Care users will be able to schedule rides to hospitals, doctor offices and pharmacies. They can also pay for rides using Care.Wallet and share ride costs with employers, insurers and others. The arrangement also enables providers, patients and family members to coordinate arrival times, schedule adjustment, cost and assistance. Dive Insight: The collaboration comes as Lyft is expanding its footprint in healthcare and preparing to take the company public. In an S-1 form filed earlier this month with the Securities and Exchange Commission, Lyft singled out its partnerships with healthcare systems as a major source of economic benefit for communities by helping ensure patients get to their medical appointments. Lyft has already teamed up with a … [Read more...] about Lyft teams up with blockchain platform as it preps for IPO
Dive Brief: Providence St. Joseph Health has acquired Lumedic, a blockchain-enabled revenue cycle management platform based in Seattle, for an undisclosed sum. Lumedic's next-generation platform uses distributed ledger technology, smart contracts and machine learning with the aim of selling to providers and payers looking to increase efficiencies and reduce costs. The deal makes Providence St. Joseph the first integrated provider-payer system with a scalable blockchain tool for RCM, the nonprofit system said Monday at HIMSS 2019 in Orlando, Florida. Dive Insight: RCM is an important area to providers, and a number of vendors are seeking to capitalize on it. In a Connance survey, 70% of providers claimed it took more than a month to collect from patients. A 2017 Advisory Board analysis found the average 350-bed hospital lost up to $22 million due to revenue cycle issues. Respondents in a recent Billing Tree survey ranked collecting on patient bills the No. 1 payment … [Read more...] about Providence St. Joseph snaps up blockchain-powered RCM platform Lumedic
Brief Dive Brief: Value-based care and other healthcare quality initiatives have made inroads, with an estimated 4% annual growth in value-based payments and 7% average annual increase in hospitals and clinicians participating in major clinical registries, a new Q-Centrix report shows. The consultancy's report looks at participation in quality programs and resource needs in three key quality reporting areas: regulatory, infection prevention and clinical registries. The report estimates value-based payments make up about 22% of all care delivery payments as of the start of this year, up from 18% at the beginning of 2018. Meanwhile, the share of hospitals submitting data to the top 20 inpatient clinical registries is expected to climb from 18,432 in 2017 to 23,773 in 2021. Dive Insight: Providers continue to determine the best ways to report clinical and quality data to improve value-based care and population health efforts. According to the report, four of the top five … [Read more...] about About 1 in 5 healthcare payments is tied to value-based model