CHICAGO & DETROIT--(BUSINESS WIRE)-- Accretive Health and Beaumont Health System today announced an exclusive, five-year operating relationship for revenue cycle operations that is focused on generating sustainable improvements in Beaumont’s operating margin while enhancing patient, physician and staff satisfaction.
Under the agreement, Accretive will provide Beaumont’s revenue cycle team with expertise, technology and processes to improve revenue cycle operations for Beaumont’s three hospitals and its physician network. The scope of the project will span the entire revenue cycle process, including infrastructure to enhance patient access, health information management and patient financial services operations.
Nick Vitale, executive vice president and chief financial officer, Beaumont Health System, says, “Beaumont’s revenue cycle team and a team of experts from Accretive will work together to develop and implement practices and technology that have been successful with Accretive’s other local and national clients. Our goal is to achieve significant, sustainable improvements that will add to our financial strength.”
Using a distinctive model focused on people, processes, and proprietary technology, the program will encompass best practices, six sigma performance metrics and industry leading technology and practitioners. The infrastructure provided includes state of the market technology and processes that will drive results today and into the future, helping position Beaumont for success during the ICD-10 conversion and in population health management.
Mary Tolan, Founder and CEO of Accretive said, “Accretive Health was built around the mission of supporting health care providers in their efforts to assure that they have the resources required to provide high quality health care to the communities they serve. Now, more than ever, this work is critical to our clients’ success. Our agreement with Beaumont further validates our strategy of partnering with highly respected management teams at prestigious health care institutions throughout the country.”
“For 56 years, Beaumont's mission has been to provide the highest quality health care services to all patients safely, effectively and compassionately, regardless of their financial circumstances," says Vitale. "This relationship will help to ensure that we continue to live our mission and deliver value in the evolving health care marketplace.”
This agreement marks the continuation of a strong heritage between Accretive Health and the Michigan market and solidifies the company’s position as a leading player in one of the largest and most innovative health care markets in the country. In 2004, Accretive Health’s first operating partnership began in Michigan and the company has since built two key processing centers: one in metropolitan Detroit and the other in Kalamazoo. Today, with a market penetration of approximately 65% in metropolitan Detroit, Accretive believes that the region is a good bellwether for the company’s full potential in other key markets.
About Beaumont Health System
Beaumont Health System is a three-hospital regional health care system with 1,744 licensed beds, more than 14,000 full-time equivalent employees and 3,700 physicians in southeast Michigan. In addition to its hospitals, Beaumont operates numerous community-based medical centers, family practice and internal medicine practices, five nursing centers, a research institute, home care services and hospice. Beaumont is the exclusive clinical teaching site for the new Oakland University William Beaumont School of Medicine that welcomes its charter class on August 8. Visit Beaumont at http://www.beaumont.edu.
About Accretive Health
Accretive Health is a leading provider of services to healthcare providers, with a business purpose to help U.S. hospitals, physicians and other healthcare providers more efficiently manage population-based health management initiatives and their revenue cycle operations. Accretive’s distinctive operating model includes people, processes and sophisticated integrated technology to help clients realize sustainable improvements in operating margins and the satisfaction of patients, physicians, and staff. Clients typically are multi-hospital systems, including faith-based and community healthcare systems, academic medical centers, and their affiliated physician practice groups. Accretive’s population health management infrastructure spans the entire healthcare delivery continuum and enables provider to manage the health of patient populations to deliver higher quality care while reducing aggregate cost of care. For further information, please visit Accretive Health at http://www.accretivehealth.com.
KEYWORDS: United States North America Illinois Michigan
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