EMERYVILLE CA - West Tennessee Healthcare, a public, not-for-profit healthcare system, today announced it has expanded its partnership with MedeAnalytics, a pioneer in healthcare analytics, by adding Patient Access and Denials Management capabilities. Having already experienced success with MedeAnalytics’ ICD-10, Compliance and Revenue Cycle solutions, West Tennessee Healthcare hopes to create process efficiencies, further reduce denials and gain new insights into their entire revenue cycle across the system and its physician group. The new capabilities are being deployed across the organization’s hospitals and physician practices.
Jeff Blankenship, CFO of West Tennessee Healthcare said they recognize the need to better position themselves for the future and have thus adopted a financial strategy to include all aspects of the revenue lifecycle – from patient access to mid-cycle to the business office., so they are expanding their partnership with MedeAnalytics to help execute on this strategy.
Those results include over 4,000 record reviews, $3.7 million in refunds and $900,000 in appeals over a four-year period. In the midst of a new accounting system conversion, West Tennessee Healthcare recognized that MedeAnalytics could once again deliver value by helping identify revenue and workflow gaps during the transition and help manage processes between new centralized registrations, the denials team and the existing revenue cycle team.
Since working with MedeAnalytics, West Tennessee Healthcare has progressively added capabilities for Revenue Cycle, Compliance, Self-Pay, ICD-10 and Revenue Integrity. With the recent addition of patient access and denials management, the health system plans to improve point-of-service cash collections, pre-registration rates and insurance verification, and reduce denials and bad debt across all four of their hospitals and physician group.
Taking an enterprise approach to managing the revenue lifecycle enables organizations to see the full picture – from the very first touch point in patient access, to documentation and coding in the mid-cycle, to billing and collections in the business office. MedeAnalytics’ solution to revenue lifecycle management includes the following capabilities:
- Patient Access provides real-time analytics during the patient registration and payment clearance processes to improve point-of-service collections.
- Revenue Integrity spots opportunities to improve revenue capture, minimize audit risk and measure and monitor the impact of ICD-10 on revenue.
Business Office optimizes cash flow, manages denials and improves collections by bringing complex patient accounting data into a unified view to expose the black holes, bottlenecks and outliers that result in lost revenue and reimburse
Print
