A/R Transition Services help groups optimize collections, improve productivity
ATLANTA – June 25, 2012 — At a time of unprecedented change in healthcare billing and reimbursement, physician practices across the country are looking to McKesson’s Revenue Management Solutions division for help in navigating the complexities of payment reform and optimizing financial performance. McKesson Healthcare Business Consulting Solutions team (MHBCS) provides a unique service to help practices transition from legacy billing systems to newer, more productive accounts receivable (A/R) platforms.
Unlike others in the industry, McKesson offers a comprehensive portfolio of A/R services across all medical specialties. As medical groups across the country plan to change billing platforms, McKesson’s A/R transition services are in high demand. The services are designed to help practices protect cash flow and realize the best possible outcome rapidly and cost-effectively.
Seacoast Radiology in Dover, N.H., is already reaping the benefits. Beginning with an evaluation of the existing platform, McKesson consultants work with practices like Seacoast to identify what can and cannot be leveraged from their legacy systems. The collectability and value of liquidating old A/R is also assessed, as is the cost of collecting all old A/R. Finally, a plan is developed to harness both in-house talent and external resources in making the transition.
“McKesson provided us with a detailed plan for transitioning our billing and helped us execute that plan with the least amount of stress on our finances,” said Shawn Rayder, MD, president of Seacoast Radiology. “They developed compensation and separation agreements, addressed legal issues, took charge of the old A/R and brought it to resolution. In addition, they gave us excellent financial guidance. Basically, they delivered on every promise they made.”
North Brevard Medical Support, a hospital-managed, multi-specialty physician group in Titusville, Fla., also is partnering with MHBCS to maximize its A/R collections and productivity. McKesson consultants worked with the group’s internal staff to identify inefficiencies and develop actionable plans to address the practice’s financial, operational and regulatory goals.
“The Healthcare Business Consulting Solutions team could have had us move immediately to the McKesson Revenue Management Solutions’ billing platform,” said Tim Skeldon, senior vice president of finance, North Brevard Medical Support. “Instead, they advised us to first fix the current A/R issues and then move to the new platform. This showed us that McKesson’s primary goal was to help us solve our problems.”
MHBCS provides practice consulting solutions that make a measurable impact on the fiscal success of physician practices through strategic growth and enhanced practice performance. The group’s A/R Transition Services are designed to offer start-to-finish assistance in managing internal and external billing system changes for practices of any size.
“As the national healthcare agenda turns to payment reform, McKesson is positioned to play a critical role in addressing the financial needs of physician practices,” said Pat Leonard, senior vice president and general manager, McKesson Revenue Management Solutions. “Our unique combination of highly focused expertise in revenue management, along with the capabilities that come with being a national billing leader, make McKesson the clear choice for A/R transition support.”
McKesson RMS is a leading provider of medical billing and practice management services, with a team of more than 4,000 experienced revenue cycle professionals. The services are uniquely designed to help practices improve efficiency and grow revenues while staying current with the latest regulatory requirements. McKesson RMS supports McKesson’s Better Health 2020TM strategy. Better Health 2020 is McKesson’s commitment to support the success of our customers, including helping physicians to improve their financial performance and clinical quality. Together, we are forging a path to the future that enables better business, better connectivity and better care for all.
McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit http://www.mckesson.com.