Baptist Healthcare System Selects McKesson to Optimize Physician Revenue.Companies will work together to make revenue cycle and operational improvements ATLANTA -- To help its affiliated physician office network staff spend more time on patient care plus address operational and revenue challenges, Baptist Healthcare System has contracted with McKesson for management of its physician revenue cycle. As part of the contract, McKesson's Revenue Management Solutions (RMS (1) (Record Management Services) A file management system used in VAXs. (2) (Root Mean Square) A method used to measure electrical output in volts and watts. 1. RMS - Record Management Services. 2. ) group will oversee all facets of physician billing, accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying management, patient services, claims management and reporting. A team with extensive physician practice management experience and payor payor (payer) n. The one who must make payment on a promissory note. knowledge will focus on addressing Baptist's specific needs. In addition to less time spent by physicians on billing tasks, Baptist expects to gain more accurate practice reporting and a decrease in the amount of lost revenue from claims denial or lack of patient pay follow-up follow-up, n the process of monitoring the progress of a patient after a period of active treatment. follow-up subsequent. follow-up plan . The RMS group also will help Baptist's physician office staff optimize optimize - optimisation their investment in its practice management system, which is used by the health system's physician practices. "We needed a change in physician billing operations to be able to continue to grow our business," said Elizabeth North, director of reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. for Baptist Hospital East. "After our evaluation process, McKesson stood out as the vendor that can address all of our needs for revenue cycle management. Its RMS group impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: us with a deep knowledge of our challenges and an ability to offer a complete solution to address each specific need." Additionally, robust and accurate reporting capabilities will provide executives with the data needed to make the best decisions for the health system. "McKesson will work to streamline revenue cycle operations so Baptist can put even more focus on providing the best patient care possible," said Pat Leonard, vice-president and general manager for McKesson's RMS group. "Baptist is a long-time, valued partner of McKesson, and we are pleased to be taking that partnership to another level in support of the health system's physician goals." About Baptist Healthcare System Inc. Baptist Healthcare System, founded in 1924, is the third largest healthcare system in the Metro Louisville area, operating two acute-care hospitals in the Louisville market - Baptist Hospital East and Baptist Hospital Northeast - and three others in Kentucky Kentucky, state, United States Kentucky (kəntŭk`ē, kĭn–), one of the so-called border states of the S central United States. It is bordered by West Virginia and Virginia (E); Tennessee (S); the Mississippi R. , Central Baptist Hospital in Lexington, Western Baptist Hospital in Paducah and Baptist Regional Medical Center in Corbin. In addition, Baptist Healthcare operates Hardin Memorial Hospital in Elizabethtown. Baptist Healthcare employs more than 10,000 in those hospitals plus urgent-care centers, physician offices and occupational medicine clinics. Learn more at www.bhsi.com. About McKesson McKesson Corporation, currently ranked 18th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes, and improving the quality and safety of patient care. McKesson is the longest-operating company in healthcare today Healthcare Today is a monthly newsmagazine published in the United Kingdom by Mayden Publishing. The style and layout of the magazine is similar to that of The Week but its focus is purely on health-related news. , marking its 175th anniversary last year. Over the course of its history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payors; hospital and retail pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. automation; and services for manufacturers and payors designed to improve outcomes for patients. For more information, visit http://www.mckesson.com. |
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