Proven revenue cycle expertise and technology-enabled solutions lead to valued outsourced relationship
Southern Regional Medical Center Engages MedAssets to Improve Net Cash Collections
<0> MedAssetsMedia Contact:Robin Wrinn678-624-7420orInvestor Contact:Robert Borchert678-248-8194 </0>
MedAssets (NASDAQ: MDAS) today announced that Southern Regional Medical Center (SRMC), a 331-bed hospital located in Riverdale, Ga., recently engaged the company for and to resolve aged receivables and liquidate cash more accurately and efficiently to achieve operational and financial performance improvement. SRMC, part of Southern Regional Health System, Inc., and managed by Emory Healthcare Network, is also utilizing MedAssets A/R Services to sustain and improve cash collections performance during its implementation of a new fully integrated revenue cycle platform, inclusive of an electronic health record and physician order entry modules. According to the agreement, SRMC is outsourcing management of aged receivables on an ongoing basis to MedAssets in order to allow leadership and staff to focus on successful implementation and training for the new system.
“MedAssets reputation and their proven expertise and technology gave us confidence to engage them to work down our A/R days and increase our cash flow while also supporting the expedited retirement of our legacy patient accounting system,” said Jay Hoffman, senior vice president and chief financial officer, Southern Regional Health System, Inc. “We were provided a thorough analysis and a strong proposal to meet our immediate and long-term needs to reduce bad debt and optimize reimbursement, including dedicated staff and advanced reporting tools to track A/R performance real-time and a centralized view of payment trends. I am particularly pleased with the implementation of MedAssets services and their flexibility in meeting our near term operational and reporting needs, especially during the go live phase of our system implementation.”
Improving net cash collections to avoid revenue loss has never been more important than in today’s changing healthcare landscape. To elevate financial performance and achieve best practice A/R management, MedAssets offers logic-driven, Web-based workflow technology that enables the prioritization of aged accounts to convert receivables to cash quickly and efficiently, while also reducing accounts receivable days. To further improve A/R collections for its clients, MedAssets identifies root cause specific to payor, and age of receivable, helping to deliver more predictable and consistent cash collections.
“We are pleased that SRMC has chosen to engage MedAssets for A/R management, and we are honored their management team values our dedicated staff and proprietary offerings for this business critical implementation of a new patient account system,” said Mike Nolte, chief operating officer, MedAssets. “MedAssets is committed to helping our clients reduce the total cost of care, enhance operational efficiency, align clinical delivery and improve revenue performance. Our A/R Services are among our full portfolio of solutions designed to complement our clients’ internal resources and technology in order to sustain a best practice revenue cycle operation. ”
As a part of Southern Regional Health System, Inc., SRMC is a full-service, 331-bed hospital in Riverdale, Ga., and is managed by Emory Healthcare Network. The hospital has proudly served the healthcare needs of its neighbors for more than 40 years. As a not-for-profit organization, SRMC is dedicated to improving the health and well-being of the surrounding community by blending a passion for healing with the use of advanced medical technology to deliver the best possible care to patients.
SRMC was the first to offer angioplasty and round-the-clock catheterization on the south side of Atlanta and is recognized as an accredited Chest Pain Center. SRMC boasts an Advanced Primary Stroke Center, the Georgia Orthopedic Institute, minimally-invasive, robotic surgeries with the da Vinci Surgical System® and a variety of rehabilitation services.
MedAssets (NASDAQ: MDAS) helps healthcare organizations to improve financial strength through innovative revenue cycle, spend and clinical resource management solutions that enable improved margins, cash flow, quality of care and patient satisfaction. More than 4,200 hospitals and 122,000 non-acute healthcare providers currently use the company’s Web-based technologies and evidence-based solutions to help capture revenue, control cost, increase regulatory compliance and optimize operational efficiency to improve the care delivery process. As a result, the company manages annually $50 billion in healthcare supply spend and touches over $365 billion in gross patient revenues. For more information, please visit .