St.Vincent Health is expanding its long-term relationship with ARx, adding extended revenue cycle management services to more of its facilities to help increase cash flow and improve margins. ARx will assist in the management of billing, revenue recovery and accounts receivables collections.
ARx will also be assisting St. Vincent in the migration of two of its hospitals into the organization's central business office (CBO) operations center. The two newest hospitals are St. Vincent Salem Hospital, a 25-bed facility in Salem, Ind., and St. Joseph's Hospital, a 186-bed facility in Kokomo, Ind. ARx will guide the hospitals through the implementation of proven, best practice processes for sustainable financial and operational improvement as part of the third-party billing and collections services ARx will be providing.
For more than nine years St. Vincent has utilized ARx for a wide variety of business office operations support. The successful relationship began in 2003 when St. Vincent acquired Women's Hospital in Indianapolis from Hospital Corporation of America (HCA). St. Vincent needed an outside firm to provide full business office services until the hospital could be managed from its internal CBO. Within five days of the initial transaction, ARx was producing accurate and clean bills for the facility and continued with full business office operations responsibility for two years until the seamless migration to the St. Vincent CBO was completed in 2005.
"ARx has been instrumental in our transition to an internal CBO and has provided us with efficient, outstanding results since day one," said St. Vincent Health System Director of Revenue Cycle Phil Skinner. "We are looking forward to growing our relationship further and the exceptional services they will provide in relation to our billing and accounts receivable needs."
"This successful partnership we have formed with St. Vincent Health is a direct reflection of the strength of ARx's commitment to support the healthcare organizations' operations and deliver measurable financial improvement," said ARx Chief Financial Officer Bill Chace. "We have the services needed to assist providers across the country who are proactively addressing operational efficiency through their revenue cycle strategies. Our collaborative approach will help St. Vincent fine tune its revenue cycle and provide targeted solutions to help the organization achieve its financial goals."
About St.Vincent Health
St.Vincent Health is a nonprofit, spiritually-centered health system, sponsored by Ascension Health of St. Louis, MO., the nation's largest Catholic health system. St.Vincent Health is one of Indiana's largest employers with 20 health ministries serving 47 counties in central Indiana. The 130-year-old health system delivers high quality, compassionate care in service areas such as cardiovascular, women's, children's, neurosciences, cancer care, orthopedics, bariatrics, primary care, emergency medicine, imaging, general surgery and long-term acute care. For more information, visit www.stvincent.org.
Since 1997 hospitals across the country have relied upon Franklin-TN-based ARx, LLC as a trusted and dependable extension of their business office operations. The Business Office Services provided by ARx enables hospitals to optimize their billing and account follow up efforts, without having to add staff or additional overhead. By leveraging the existing infrastructure and business office expertise of the ARx organization, healthcare service providers can more quickly and economically achieve their organizations' revenue cycle management goals. For more, visit www.arxllc.com.