New Center of Excellence to serve as a platform for industry collaboration and innovation
SALT LAKE CITY & CHICAGO--(BUSINESS WIRE)-- Intermountain Healthcare and Accretive Health (NYSE: AH) today announced a five-year strategic relationship for end-to-end revenue cycle operations. This agreement will enable Intermountain to build on its track record of revenue cycle excellence by leveraging Accretive’s distinctive operating model, including its rigorous processes and proprietary technology, to generate additional improvements in revenue yield and enhance patient satisfaction across Intermountain’s network of 23 hospitals.
Bert Zimmerli, Senior Vice President and Chief Financial Officer of Intermountain Healthcare, said, “Intermountain’s mission is to be a model healthcare system, delivering the highest quality healthcare at the lowest, appropriate cost to all the communities we serve. Over the last few years, we have made tremendous improvements in our Revenue Cycle metrics, achieving top performance from both a collections and financial assistance standpoint. We expect that our relationship with Accretive will help us further raise the standard of operational excellence, while enhancing patient, physician and staff satisfaction in what is becoming an increasingly complex healthcare landscape.”
The scope of the relationship will span the entire revenue cycle, and provide the critical infrastructure to enhance the effectiveness and efficiency of patient access, health information management and patient financial services operations.
Leveraging their combined scale and expertise, Intermountain and Accretive will create a Center of Excellence in Salt Lake City with the objective of establishing an industry model for revenue cycle operations. Participating healthcare providers will have access to a scaled infrastructure incorporating proven processes, best practices in compliance, skilled professionals and proprietary technology, enabling them to achieve greater revenue capture and operational efficiencies. The Center of Excellence will also provide professional education and development content to healthcare providers nationally.
Greg Johnson, Vice President, Finance and Corporate Controller of Intermountain Healthcare, said, “As stewards of our resources, we recognize the need to continuously evaluate opportunities to innovate and optimize our operations. Our Center of Excellence will offer participating providers a robust infrastructure to deliver sustainable process improvements and ultimately enhance their ability to offer high quality care to their communities.”
“Intermountain Healthcare is widely regarded as one of the nation’s most prestigious healthcare institutions with a reputation for operational and clinical excellence. Accretive Health is proud to be Intermountain’s partner of choice as they seek to implement additional improvements across their revenue cycle operations. This collaboration further validates our strategy in delivering tangible results and will significantly expand our footprint in the West,” said Mary Tolan, Founder and Chief Executive Officer of Accretive Health.
Furthermore, the Center of Excellence will serve as a vehicle for innovation as Intermountain and Accretive collaborate with participating providers to develop new capabilities, aimed at addressing some of the key issues facing the healthcare industry today and helping set new standards for professionalism in the industry. Accretive and Intermountain expect this relationship to promote economic development in Utah, further demonstrating their commitment to the local community.
About Intermountain Healthcare
Intermountain Healthcare is a Utah-based system of 23 nonprofit hospitals, 185 clinics, a Medical Group with 900 employed physicians, a health plans division called SelectHealth, and other health services. Intermountain is widely recognized as a leader in clinical quality improvement and efficient healthcare delivery. For more information about Intermountain, please visit www.intermountainhealthcare.org.
About Accretive Health
Accretive Health is a leading provider of services to healthcare providers. Our business purpose is to help U.S. hospitals, physicians and other healthcare providers more efficiently manage their revenue cycle operations and population-based health management initiatives. Our distinctive operating model that includes people, processes and sophisticated integrated technology, which we refer to as our solutions, helps our customers realize sustainable improvements in their operating margins and improve the satisfaction of their patients, physicians and staff. Our customers typically are multi-hospital systems, including faith-based or community healthcare systems, academic medical centers and independent ambulatory clinics, and their affiliated physician practice groups. Our revenue cycle solution spans our customers' entire revenue cycle, unlike competing services that we believe address only a portion of the revenue cycle or focus solely on cost reductions. Our revenue cycle management customers have historically achieved significant improvements in cash collections measured against the contractual amount due for healthcare services, which we refer to as net revenue yield. Our population health management infrastructure spans the entire healthcare delivery continuum and enables providers to manage the health of their patient populations delivering higher quality care while reducing aggregate cost of care.
CONTACT:
Intermountain Healthcare
Daron Cowley, Senior Communications Director
+1 (801) 442-2834
[email protected]
or
Accretive Health
Francesca Luthi, SVP, Corporate Communications
+1 (312) 255-7794
[email protected]
KEYWORDS: United States North America Illinois Utah
INDUSTRY KEYWORDS: Technology Data Management Software Practice Management Health Hospitals Other Health Professional Services Other Professional Services General Health Managed Care
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