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Third Millennium Healthcare Systems Introduces the Electronic Financial Record; New Concept Revolutionizes Healthcare Financial Management.



ATLANTA -- Third Millennium Healthcare Systems introduces the electronic financial record (eFR(TM)) for healthcare revenue management at the 2005 Healthcare Financial Management Association's Annual National Institute and Idea Exchange, June 26-29 in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . The electronic financial record is a compilation Compiling a program. See compiler.  of the pertinent PERTINENT, evidence. Those facts which tend to prove the allegations of the party offering them, are called pertinent; those which have no such tendency are called impertinent, 8 Toull. n. 22. By pertinent is also meant that which belongs. Willes, 319.  financial history of a patient account from its inception through its resolution.

Similar in concept to the electronic medical record, the eFR provides a common repository for patient financial data along with workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle.  tools that can significantly improve productivity and provider financial performance.

"We saw a need in the industry for a comprehensive financial management system that extends beyond legacy applications," explains Dennis Byerly, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Third Millennium Healthcare Systems. "The single biggest problem we've seen is that there are multiple disparate systems in each facility that handle patient financial data and can't communicate with each other. We developed a solution that ties together information that's stored in these separate systems so that our clients can work more efficiently and effectively, while improving revenues and reducing costs."

i.suite(R) eFR is the first system to effectively tie together disconnected financial information, automate To turn a set of manual steps into an operation that goes by itself. See automation.  account management workflow, and provide a single user interface that connects electronic data, patient demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data.  and scanned documents. Its capabilities address specific needs that significantly impact providers' financial performance, and provide a way for organizations to eliminate redundancies and lost revenue while reducing their workloads.

About Third Millennium Healthcare Systems, Inc.

Third Millennium Healthcare Systems, Inc. (www.tmhsi.com) provides revenue cycle management software solutions and outsourced services for healthcare organizations. Third Millennium's i.suite(R) solutions efficiently automate rejected/denied claims management, document imaging, claims tracking, workflow, document management, reporting, secondary claims processing and other functions, to increase revenue and decrease operational expenses.
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Publication:Business Wire
Date:Jun 24, 2005
Words:291
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