Maricopa Integrated Health System Achieves $17.5 Million in Financial Improvement with MedAssets
Maricopa Integrated Health System (MIHS) recently renewed its long-term
agreement with MedAssets (NASDAQ: MDAS) for the company's charge
management and patient
access tools, to improve the health system's revenue capture, cash
flow and reimbursement. Using these Web-based revenue cycle solutions,
MedAssets has helped MIHS achieve financial improvement of $17.5 million
over a six-year period.
A MedAssets customer for more than 10 years, MIHS utilizes CrossWalk® to
link the health system's chargemaster in the revenue cycle with the item
master in its supply chain, increasing reimbursement and transparency.
MIHS has also taken a proactive approach to billable charges, achieving
approximately $1.6 million in increased revenue each year through
opportunities identified by MedAssets CCA®, a charge capture audit
solution. MedAssets' Contract Manager and Denials Manager solutions help
MIHS to ensure appropriate reimbursement from payors for services
rendered. In addition, MIHS uses CarePricer® to provide patient-friendly
estimates and inform patients of their financial responsibility within
the health system's clinics, which helps MIHS reduce its bad debt.
Based in Phoenix, MIHS is comprised of Maricopa Medical Center, a
449-bed hospital, the Arizona Burn Center, the Comprehensive Healthcare
Center, the McDowell Healthcare Clinic, 10 community-oriented family
health centers and an attendant care program. With net patient revenue
of $359,730,515 in fiscal year 2010, MIHS has nearly 20,000 inpatient
admissions and 300,000 outpatient visits annually.
"To continue serving our patients and our community, Maricopa Integrated
Health System must have a high performing revenue cycle whose success is
important to the entire system," said Siobhan Mee, director of revenue
management. "Together with MedAssets, we have implemented best-practice
tools and processes to address our unique challenges. Our improved
access to relevant data and automated workflows has fostered open
communications with all of our departments and delivered financial
improvement and compliance."
"Maricopa Integrated Health System takes a proactive approach to revenue
cycle management, which has paid off in the form of efficient operations
and continuous financial improvement," said Neil Hunn, chief financial
officer and president, revenue cycle technology, MedAssets. "MedAssets
is pleased to continue serving this team by providing technology that
addresses their revenue cycle challenges and helps them be more
effective on a daily basis."
Maricopa Integrated Health System (MIHS) is the health care safety net
for citizens of Maricopa County, Arizona, and includes Maricopa Medical
Center, the Arizona Burn Center, the Comprehensive Healthcare Center,
the McDowell Healthcare Clinic, 10 community-oriented family health
centers, and an attendant care program.
MedAssets (NASDAQ: MDAS) partners with healthcare providers to improve
financial strength by implementing spend management and revenue cycle
management solutions that help control cost, improve margins and cash
flow, increase regulatory compliance and optimize operational
efficiency. MedAssets serves more than 180 health systems, 4,000
hospitals and 75,000 non-acute healthcare providers. For more
information, visit www.medassets.com.
Regina Haas, 678-624-7420
Source: MedAssets MHIS
News Provided by Acquire Media
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