May 9, 2012 —Radiology Associates of Fox Valley (RAFV) in Neenah, Wisc., has elected McKesson Revenue Management Solutions (RMS) to help the group modernize its revenue cycle operations and navigate rapid changes in the healthcare billing and coding environment.
The 33-physician practice will benefit from McKesson’s industry-leading billing services and compliance program as well as its in-depth knowledge of the Wisconsin payer market. Combining RMS’s automated data collection and compliance capabilities with its radiology-specific coding expertise is expected to help RAFV improve its financial performance and help to reduce regulatory risk.
“Like a lot of practices, we’re facing strong headwinds in today’s radiology market,” said Monica Nichter, RN, MSN, practice administrator of RAFV. “Developing a long-term strategic relationship with McKesson RMS will help us weather these challenging times. We’re particularly excited about McKesson’s ability to support the complex billing process for interventional radiology, which is an important component of our practice.”
RMS will help the group stay current with the latest regulatory requirements, while improving coding accuracy rates and minimizing lost revenues. With more oversight and auditing of the charge capture process, the group expects to reduce denials, improve cash collections and mitigate regulatory risk. In addition, RAFV’s strategic decision-making will be enhanced with web-based reporting tools designed to enable real-time analysis of operational and financial data down to the patient level.
“We will get immediate access to vital information on the performance of our practice, from accounts receivables and compliance to staff productivity,” added Nichter. “With that level of insight and transparency, we’re equipped to face the challenges ahead.”
McKesson RMS is the nation’s leading provider of medical billing and practice management services, supported by a team of more than 4,000 experienced revenue cycle professionals. The services are designed to help radiologists receive the correct reimbursement and minimize risk. “Radiology billing is highly complex and growing even more so under changing regulations,” said Pat Leonard, senior vice president and general manager, McKesson Revenue Management Solutions.
“Radiologists can benefit from the expertise that a full-service company like McKesson can provide. We are well-positioned to help organizations like RAFV adapt to the current healthcare environment while making preparations to protect the financial health of their practices into the future.”
For more information: visit http://foxvalleyradiology.com