Largest, Most Comprehensive, Not-For-Profit Health Provider In The Pacific Northwest To Use Concuity’s ClearContracts™ To Improve Cash Flow
HAYWARD, Calif., Dec. 9, 2003 – Concuity, a trusted provider of contract revenue cycle management solutions for the healthcare industry, today announced that Swedish Medical Center in Seattle has selected Concuity’s ClearContracts to improve the organization’s revenue performance and streamline its processes for managing relationships with payers. Swedish Medical Center – which is comprised of three hospital campuses, a home-care services division and a network of 11 primary-care clinics in the Puget Sound area – will implement Concuity’s ClearContracts suite of technology products to improve cash flow, produce fewer claim denials, reduce payment delays and increase collections. “We were looking for a partner with the expertise and the technology to address the reimbursement issues of claim denials, payer contract compliance, delayed A/R collections and other variables that negatively impact our organization’s cash flow,” said Scott Strandjord, vice president of Revenue Management for Swedish. “Concuity and their technology suite were well suited to the opportunities we have determined to pursue. We’ve been impressed with the revenue gains and process improvements that our colleagues have experienced through the implementation of Concuity’s solutions, and Swedish is looking forward to the realization of similar results.” Concuity combines Web-based technology, business intelligence and revenue-cycle expertise to provide healthcare executives and administrators the visibility needed to ensure accurate payments under today’s complex reimbursement arrangements. ClearContracts will enable Swedish Medical Center to monitor payer performance and identify and recover underpaid and denied accounts; while uncovering workflow breakdowns that cause revenue leakage — all resulting in optimized reimbursement and improved cash flow. “We use an enterprise approach to the contract revenue cycle — allowing the hospital organization to not only identify underpayments and denials, but actually collect the monies that are owed while identifying and correcting systemic issues that are causing revenue leakage in the first place,” said Robert Watson, president and CEO of Concuity. “With ClearContracts, organizations such as Swedish Medical Center can evaluate payer performance at every stage in the revenue cycle, and collect what’s rightfully owed. It allows them to concentrate on their mission of improving the health and well-being of each person they serve.”
About Swedish Medical Center
Swedish Medical Center is the largest, most comprehensive, not-for-profit health provider in the Pacific Northwest. Swedish is comprised of three hospital campuses (First Hill, Providence and Ballard), Swedish Home Care Services and Swedish Physicians – a network of 11 primary-care clinics. In addition to general medical and surgical care, Swedish is known as a regional referral center, providing specialized treatment in areas such as cardiac care, oncology, orthopedics, high-risk obstetrics, neurological care, sleep medicine, pediatrics, organ transplantation and clinical research. For more information, visit www.swedish.org
About Concuity
Concuity, offers industry-leading solutions to increase hospital revenue by identifying and correcting payer non-compliance issues in the contract revenue cycle. Founded in 2000 by a group of healthcare industry visionaries, Concuity improves its customers’ bottom lines by delivering technology and service solutions to create and negotiate better contracts, ensure accurate implementation and compliance, and collect what’s owed. Clients include Sutter Health, Stanford Hospitals and Clinics, Covenant Health System, St. Joseph’s Health System and Providence Health System. Concuity is headquartered in Hayward, Calif. For more information, call Concuity, at 847-941-9230 or visit www.concuity.com.