Image of Title bar alt

Our Perspectives

Author

L

Lincoln Popp

Share

Mar 9, 2019

Joining Like-Minded Partners

Recently, our team returned from HIMSS19 — the largest health information and technology conference in the US. HIMSS19 was a huge show and definitely worth the attention it received. For Lumedic, it was an especially interesting event as we announced our acquisition by Providence St. Joseph Health at the start of the conference and had a chance to meet with a number of strategic partners looking to innovate within revenue cycle.

Providence St. Joseph Health Logo

When we first engaged with PSJH to consider how our platform could improve revenue cycle, it was clear they were as motivated as we were to transform this complicated and resource intensive operation. With 51 hospitals and over $23 billion in revenue, PSJH is one of the largest non-profit health systems in the country. Across the organization, they are in the process of transforming themselves including the area we are focused on — revenue cycle. Our technology team brings blockchain and artificial intelligence resources together with the bright minds at PSJH to look at how to overhaul the financial interfaces between payers and providers. By starting with a motivated, large provider like PSJH, we are able to look at the most complex interactions between payers and providers and drive immediate change for caregivers.

From a mission standpoint, we are encouraged by PSJH’s vision of ‘Health for a Better World’ and incredibly excited at the opportunity to drive meaningful change at scale. Just recently at HIMSS, the AMA presented on the patient impacts of an overly complicated prior authorization process. The report underscores the need to improve the process burden associated with prior authorizations not just from a cost perspective, but as an imperative to avoid administrative delays that can cause material adverse health complications for patients. Prior authorization is our first platform milestone with PSJH and is a perfect example of the natural alignment that we have in our shared mission.

We look forward to our partnership with PSJH as well as upcoming announcements with other payers and providers ready to disrupt revenue cycle.

-Lincoln

Read Next

Related Articles

Image of Lumedic interoperability crucial
Photo of Richard Bloch

Richard Bloch

Apr 3, 2020

Interoperability is Crucial to the Future of Healthcare

Why we’re rapidly employing standards like FHIR that allow health organizations and...

Image of Lumedic digital identity protection
Photo of Ben Parkison

Ben Parkison

Feb 18, 2020

It’s Time for Digital Credentials and Identities in Healthcare

Why we need a portable, trusted...

Image of Lumedic surprise medical bill
Photo of Mike Nash

Mike Nash

Jan 13, 2020

Surprise Medical Bill! That Will Be $7,670

How attempting to schedule a surgery for my son illustrated...