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We live in an era of rapid innovation and digital transformation in healthcare. According to Accenture’s 2021 Digital Health Tech Vision report, 93% of health executives said their organizations are prioritizing urgent innovations this year; meanwhile, 81% said the pace of innovation is picking up in their organizations. All of this innovation is being fueled by a sharp increase in funding for digital health. An estimated $6.7 billion went to healthcare startups during the first quarter of 2021 alone. And that figure is likely to grow.
Both patients and providers have benefited from this technological transformation and want to see it continue. Fortunately for them, the U.S. telehealth market revenues are expected to increase by more than 28% by 2026. Digital healthcare solutions like telehealth have made healthcare more cost-effective, efficient, and convenient. Telehealth reduces patient wait times, decreases the risk of illness transmission, and eliminates the need for people to take hours away from work to speak with a doctor.
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Revenue cycle management (RCM), long a staple function of hospital and health system operations, has been undergoing a thorough transformation of late, evolving forward through advancing iterations of …
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