North Memorial Health Care Chooses Concuity To Identify And Collect Underpayments
ClearContracts™ Revenue Recovery Services Implemented to Recover Underpayments and Denials
HAYWARD, Calif., June 24, 2004 - Concuity, the leading provider of contract revenue cycle management solutions for the healthcare industry, announced today that North Memorial Health Care of Robbinsdale, Minnesota will use ClearContracts™ Revenue Recovery Services to improve underpayment and denial collections. Concuity offers a unique combination of services and software which identifies why underpayments occur, recovers revenue, and delivers tools to proactively stop known revenue leaks. “We were looking for a partner who had the ability to implement a sophisticated process to identify discrepancies between our system and that of the payors and efficiently reconcile them, and we believe that Concuity will squarely address these challenges,” said Patrick J. Boran, Vice President of Finance and Chief Financial Officer for North Memorial Health Care. John Levenick, Director Managed Care Contracting at North Memorial Health Care added, “there are significant issues in how contracts are interpreted by the systems processing our claims, and it has been very difficult to get a good grip on the causes. The technology and knowledge base that Concuity brings will enable us to identify issues that cause the misinterpretation and constructively resolve them.” “North Memorial recognized how Concuity would provide advanced methods and tools in their collections efforts,” said Robert E. Watson, Chief Executive Officer of Concuity. “Our Revenue Recovery Services, using the industry-leading ClearContracts technology, enables healthcare organizations to efficiently collect what is owed to them, while putting themselves in a position to implement a system that automates revenue recovery,” he continued. At the outset of a project, Concuity’s team of recovery experts evaluates all accounts and determines the size of the opportunity. The team then shows the customer staff how to isolate and correct systemic issues that cause incorrect payments or denials. Concuity’s agile business model allows customer to start the relationship on a service basis and then at their option take over the process using Concuity’s licensed software and leveraging the knowledge of best practices gained during the hands-on service period. This allows customers going forward to operate and sustain a highly effective, ongoing revenue recovery program.
About North Memorial Medical Center
North Memorial Medical Center is a Level I Trauma Center located in Robbinsdale, Minneapolis. North Memorial is recognized for its outstanding cardiology, oncology and women and children’s services as well as its six primary care clinics throughout the northwestern Twin Cities. North Memorial Medical Center has been named one of the nation’s 100 Top cardiovascular hospitals.
About Concuity
Concuity increases hospital revenue by identifying and correcting payer non-compliance issues in the contract revenue cycle. Founded in 2000, Concuity improves its customers’ bottom lines by delivering technology and services to create and negotiate better contracts, ensure accurate implementation and compliance, and collect what’s owed. Clients include Sutter Health, Stanford Hospitals and Clinics, Henry Ford Health System, The Cleveland Clinic, Covenant Health System, St. Joseph’s Health System, and Providence Health System. Concuity is headquartered in Hayward, California, with offices throughout the U.S. For more information, call 866-716-1839 or visit www.concuity.com.
Published Jun. 24th 2004 at 11:10 am.