MEMPHIS – In an effort to increase efficiency and improve cash recovery on commercial bills, eligibility efforts and patient-pay accounts, the Regional Medical Center at Memphis, known as the MED, will be using Connance Agency Manager and Scoring with PARO charity care analytics, web-based platforms for monitoring and managing collection vendors.
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"Like all hospitals, we are faced with tight budgets, more patients facing financial challenges, and billing processes that are more complex and demanding," said Rick Wagers, the MED's senior executive vice president and chief financial officer in a press release. "Connance technologies will help us to address these challenges by eliminating waste in the handoffs with our vendors and increase overall recoveries."
"With the patient being at the center of reform, meeting their individual needs and improving satisfaction has never been more important," Connance's chief executive officer, Steve Levin, said. "Leading hospitals are re-thinking every business process, front, middle and back, recognizing that an opportunity to change the patient experience exists in all phases of the financial relationship."
The MED also expects the products to identify patients eligible for charity and reduce its administrative load.
