A new partnership is designed to help home health and hospice service workers improve their business through automated revenue cycle management.
HealthWyse, a Wilmington, Mass.-based provider of home health and hospice software and services, has announced an agreement with ZirMed, Inc., a Los Angeles-based developer of revenue cycle management capabilities. The deal allows ZirMed to integrate its claims management and revenue generation tools with HealthWyse's workflow management, financial management, referral tracking and analysis and time and labor management tools, among others, to automate and streamline the electronic transmission of claims to commercial insurance carriers.
The partnership involves two evolving areas of healthcare – home-based healthcare, which expects to see an increase in business as America's Baby Boomer population ages and telehealth applications become more refined, and Web-based revenue cycle management, which is designed to help providers improve business operations and reduce skyrocketing costs.
"In this era of declining reimbursements and patients shouldering more of the cost of care, home health and hospice agencies – like mainstream provider offices – must focus on making sure revenue cycle management functions are in proper balance with the delivery of patient care," said Jim Lacy, ZirMed's chief financial officer and counsel. "Together with HealthWyse, we're making it easier for agencies to handle claims management and revenue collections through the use of simple and tailored technology tools that are well-suited for home health and hospice organizations."
"The combined technologies of HealthWyse and ZirMed will not only provide our customers with greater control over their revenue collections and reimbursement management functions, but will also bring more automation to repetitive agency tasks," added Mike Kramer, the CEO of HealthWyse. "By focusing on these activities – whether financial or administrative – HealthWyse and ZirMed are helping to overcome stagnant workflows, ensure that agency revenues are maximized and in the end, let home health and hospice professionals spend more time caring for patients."