April 20, 2011 – Several major Northeast radiology practices have switched to McKesson’s Revenue Management Solutions (RMS) to optimize financial performance. With the industry’s most robust radiology billing and compliance solutions and extensive business intelligence capabilities, the technology and services are designed to help the groups grow revenue, control costs and mitigate regulatory risks.
Radiology and Imaging in Springfield, Mass., the largest radiology practice in western Massachusetts, and Seacoast Radiology in Rochester, N.H., were two of the practices that switched.
Radiology and Imaging selected the billing and coding services to help accelerate reimbursements and improve collection rates. With 29 specialized radiologists, the group needed a billing partner who could work with payers and other large radiology practices.
“We were impressed by the depth of McKesson’s billing platform and reporting capabilities,” said Laurie Gianturco, president, Radiology and Imaging. “With the team’s knowledge of payers and market conditions in our region, we now have a revenue management partner to help us address the intricacies of radiology billing and improve financial performance across our organization.”
Strategic decision-making at the practice will be enhanced with Web-based business intelligence and reporting tools designed to enable direct access to the group’s financial data. In addition, the company can help Radiology and Imaging manage complex coding and documentation requirements and address compliance regulations.
Seacoast Radiology also is looking for help in making financial improvements. With two hospital affiliates and an imaging center for women, the practice will utilize RMS to help streamline its revenue cycle management processes and improve collection rates. The business intelligence services and reporting tools will enable the group to track performance, monitor bottom-line results more efficiently and make more informed financial decisions.
“Like many radiology practices, we were managing our billing in-house and were wary about transitioning to an outsourced model,” said Albert Chang, vice president, Seacoast Radiology. “By partnering with McKesson, we get the benefit of a radiology-specific billing platform and in-depth reporting to help improve the financial health of our practice so we can focus on delivering the best care to our patients.”
For more information: www.mckesson.com