St. Joseph Medical Center in Houston has sold approximately 39,000 outstanding patient accounts to Conifer Revenue Cycle Solutions, Inc.
The accounts receivable stem from patient liabilities owed to the medical center for services rendered over the past three years.
Under terms of the agreement, Conifer purchased the accounts from St. Joseph and will now manage them. This gives the medical center immediate payment for the receivables, providing the hospital with capital for additional healthcare services and programs in the Houston community.
"As a revenue cycle company that was created from within a hospital corporation, Conifer understands the critical challenge that hospitals face as they try to balance collecting patient receivables and maintaining patient satisfaction," said Stephen M. Mooney, president of Conifer Revenue Cycle Solutions. "We have the experience and scale needed to help St. Joseph Medical Center improve its financial position, which in turn grows our business."
Based in Dallas, Conifer was launched in 2008 as a wholy owned subsidiary of the Tenet Healthcare Corporation.