ATLANTA--(BUSINESS WIRE)-- Maricopa Integrated Health System (MIHS) recently renewed its long-term agreement with MedAssets (NASDAQ: MDAS) for the company’s charge integrity, revenue capture, contract management, denials 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.
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