Company’s knowledge of Illinois payer market and ability to boost collections are key differentiators
ATLANTA – July 22, 2012 —Peoria Tazewell Pathology Group (PTPG), a 13-physician pathology practice based in Peoria, Illinois, will re-engineer its revenue cycle with assistance from McKesson Revenue Management Solutions (RMS). By partnering with an industry leader in medical billing and practice management services, PTPG expects to increase collections, strengthen financial reporting and improve ICD-10 and other regulatory compliance issues. McKesson will provide the group with a full complement of services, including coding, A/R management, denial management, financial reporting, claims support and the market’s most advanced regulatory compliance capabilities.
McKesson brings a powerful array of skills and capabilities to the table,. said Ronald Champagne, M.D., president of PTPG. .We’re confident that their expertise in coding and billing for pathology – coupled with their understanding of the Illinois payer market and national pathology reimbursement trends – will help us optimize collections in today’s difficult healthcare market.
Champagne said McKesson will also provide strategic support designed to help the group identify growth opportunities, and will assist the practice in preparing for the impending ICD-10 coding transition. The agreement with PTPG increases McKesson’s already-significant footprint of pathology clients in Illinois.
Many pathology groups face significant challenges today, due primarily to declining reimbursements and aggressive competition from national laboratories, said Pat Leonard, senior vice president and general manager, RMS. .McKesson believes that better business health and better patient health go hand in hand. With this in mind, we have developed a comprehensive approach to help groups stabilize their existing cash flow and strategically assess growth opportunities. We are well-positioned to help organizations like Peoria Tazewell improve the financial health of their business in the present healthcare environment.
McKesson RMS has a team of more than 4,000 experienced revenue cycle professionals. The team’s 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 2020 strategy. Better Health 2020 is McKesson’s commitment to support the success of its customers, including helping physicians to improve their financial performance and clinical quality.
About Peoria Tazewell Pathology Group
Peoria, Illinois-based Peoria Tazewell Pathology Group is an independent group with a local and regional base providing professional pathology and laboratory services for nine area hospitals. The practice is a key pathology services provider for central Illinois and includes physicians and allied professionals specializing in dermatopathology, hematopathology, gastrointestinal pathology, cytopathology, forensic toxicology, general surgical pathology and clinical pathology. For more
information, visit http://www.ptpg.com.
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.