Large Radiology Groups in the Northeast Turn to McKesson for Revenue ManagementApril 21, 2011 | Healthcare IT News Staff
Radiology & Imaging in Springfield, Mass., the largest radiology practice in Western Massachusetts, and Seacoast Radiology in Rochester, N.H., have joined other radiology practices in the Northeast using 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, McKesson’s technology and services are designed to help the groups grow revenue, control costs and mitigate regulatory risks.
Radiology & Imaging selected McKesson’s billing and coding services to help accelerate reimbursements and improve collection rates. With 29 specialized radiologists, the group needed a billing partner with proven success working 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 & 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.”
McKesson’s dedicated account managers will help the practice assess performance and stay current with regulatory demands. 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, McKesson’s compliance team is uniquely positioned to help Radiology & Imaging manage complex coding and documentation requirements and address compliance regulations.
Seacoast Radiology also is looking to McKesson for help in making financial improvements. With two hospital affiliates and an imaging center for women, the practice will utilize McKesson’s expertise in radiology to help streamline its revenue cycle management processes and improve collection rates. McKesson’s 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.”
McKesson’s RMS group is the nation’s leading provider of medical billing and revenue management services, supported by a team of more than 4,000 experienced revenue cycle professionals. The services are designed to help practices optimize reimbursement, minimize risk and increase revenue in order to keep more of what they earn.
“We're honored that radiology practices in the Northeast and across the country are increasingly turning to McKesson's Revenue Management Solutions for revenue improvements and enhanced financial performance,” said Pat Leonard, senior vice president and general manager, McKesson Revenue Management Solutions. “As a national company with local presence, our team’s extensive experience in revenue cycle management makes McKesson uniquely qualified to help them achieve financial success.”
About Radiology & Imaging
Radiology & Imaging, Inc. conducts and interprets diagnostic imaging exams at three independent outpatient imaging centers throughout Baystate Health System and with various partner facilities throughout Western Massachusetts and Northern Connecticut. The privately-held, Springfield-based company of 30 board-certified radiologists covers all sub-specialties of diagnostic imaging. As the largest radiology practice in Western Massachusetts, Radiology & Imaging interprets more than 400,000 imaging studies each year.
About Seacoast Radiology
Seacoast Radiology, PA is a leading radiology practice in the seacoast area of New Hampshire with ten sub-specialized radiologists providing imaging services at two hospitals and an imaging center.
McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a healthcare services and information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes, and improving the quality and safety of patient care. Over the course of its 178-year history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payers; hospital and retail pharmacy automation; and services for manufacturers and payers designed to improve outcomes for patients. For more information, visit http://www.mckesson.com .