With the Healthcare Financial Management Association's ANI: The Healthcare Finance Conference less than a week away, vendors are making last-minute preparations on solutions designed to improve the hospital's bottom line as well as its ability to deliver care.
Among the many vendors slated to exhibit this year at the Washington State Convention and Trade Center in Seattle is Concuity, a Vernon Hills, Ill.-based provider of revenue recovery solutions. The company, a healthcare division of Trintech, Inc., is showcasing its ClearContracts solution, which has been used by Renton, Wash.-based Providence Health & Services for almost six years and is being rolled out to four more hospitals in the system.
"The expansion of our relationship with Concuity is a reflection of working with a company that understands our needs, as well as the hospital managed care and business office functions," said Matt Blackmore, manager of contract compliance for the Washington/Montana region of Providence Health & Services, in a press release issued ahead of the ANI conference. "They have proven time and again that they can deliver significant financial improvement within our organization. Since implementing ClearContracts into our organization we have increased collections by over $35 million in the course of five-and-a-half years, while improving our contracting capabilities significantly."
Providence Health, a not-for-profit health system serving Alaska, Washington, Montana, Oregon and California, uses ClearContracts in 16 hospitals for all contract management functions, including accounts receivables management, account recovery, management reporting and managed care contract negotiations.
"Our relationship with Providence has been very successful in helping improve their financial performance, so they can continue to focus on delivering quality patient care without worrying about being paid correctly for the services they provide to their patients," said Paul Byrne, Concuity's president, "We also appreciate their support, particularly as an early adopter of our solution, and we look forward to working together with Providence Health & Services for many years as we expand the breadth of our product in the marketplace."
Also exhibiting this year at ANI is Awarepoint, a San Diego-based provider of active RFID technologies and real-time location systems. The company will be showing off its RTLS offerings, including the T2S sterilizable active RFID-RTLS asset tag, and pointing out how location awareness systems help hospitals improve asset management and patient tracking and reduce wasteful spending and lost inventory.
Awarepoint will also highlight its partnership with Grand Rapids, Mich.-based Skytron, whose Asset Manager RFID-RTLS solution, powered by Awarepoint, consolidates medical equipment information and location needs for mobile and fixed assets. Asset Manager further integrates with Skytron's SkyVision operating room video and data system, allowing hospital officials to accurately track the location and status of all equipment and people in the operating room.
HFMA's ANI conference is scheduled to take place June 14-17.