Waltham, MA (PRWEB) July 29, 2014
Connance, Inc. (http://www.connance.com), the industry’s premier source of predictive analytic technology solutions that optimize financial and clinical workflows, today announced that Advocate Health Care, the largest health system in Illinois, has contracted with Connance for a comprehensive vendor performance program to gain process control and visibility, streamline outsourced operations and increase recoveries. The program includes deployment of Connance’s vendor management platform as well as comprehensive updating of Advocate’s outsourced network design, policies and processes.
In an effort to consolidate the multitude of independent business office operations system-wide, Advocate recently created the Shared Revenue Cycle Organization (SRCO), a central business office for the health system. "We realized that with the SRCO we had the opportunity to rethink how we use external business process partners to both improve the experience for our patients and our revenue cycle’s financial performance," said Rick Lyman, Vice President, Revenue Cycle, Advocate Health Care. "We recognize that our outsourced partners across all our revenue classes have the potential to contribute significantly and that the fullest benefit requires a data-driven partnership. Connance’s experience and technology are fundamental to that vision. They are helping us to select vendors, establish policies and guidelines, and put in place exception-based, fast-response processes.”
The Advocate SRCO works directly with more than 25 outsourced vendors across patient-pay, commercial claims, eligibility and other specialized areas. From tracking account status and commissions to the communication of hand-offs of the right accounts to the right vendors, the process of managing the movement of accounts over time and ensuring integrity of effort, in both the most basic of activities and to deeper financial dimensions, is very complex.
"We applaud Advocate's approach to continually drive innovation in their revenue cycle," said Steve Levin, CEO, Connance. "Once live with the Connance vendor performance program, I have full confidence that Advocate's patients will have a more integrated experience; Advocate will realize better cash flow and operational efficiencies, and its outsource partners will enjoy better connectivity with Advocate resources leading to reduced operational challenges. Now more than ever, in this increasingly challenging operating environment, it is critical for providers to better manage their patient relationships and financial performance over what is an extended revenue cycle process involving internal and external resources."
About Advocate Health Care
Advocate Health Care, named among the nation’s top health systems, is the largest health system in Illinois and one of the largest health care providers in the Midwest. Advocate operates more than 250 sites of care, including 10 acute care hospitals, the state’s largest integrated children’s network, five Level I trauma centers (the state’s highest designation in trauma care), two Level II trauma centers, one of the area’s largest home health care companies and one of the region’s largest medical groups. Advocate Health Care trains more primary care physicians and residents at its four teaching hospitals than any other health system in the state. As a not-for-profit, mission-based health system affiliated with the Evangelical Lutheran Church in America and the United Church of Christ, Advocate contributed $661 million in charitable care and services in 2013.
About Connance, Inc.
Connance is the industry’s premier source of predictive analytic technology solutions that enable hospitals, physician groups and outsourcing organizations to optimize financial and clinical workflows for sustained performance improvement. Our revenue cycle, revenue enhancement and value-based health solutions leverage an organization’s existing technology and resources to create financial strength, reduce operating costs and help manage risk while enhancing the patient experience. Connance is redefining workflow optimization of the healthcare enterprise. Connance partners with leading healthcare providers including BJC, Carolinas HealthCare, Centura Health, Florida Hospital and Geisinger Health System. Connance is headquartered in Waltham, Massachusetts. For more information, call us at (781) 577-5000 or visit http://www.connance.com.