The New Orleans-based Ochsner Health System has entered into a long-term agreement for revenue cycle services with Atlanta-based MedAssets.
Ochsner will work with MedAssets to "fundamentally re-engineer" its revenue cycle processes, from patient access through business office operations, to improve net revenue and cash flow.
"Through this agreement, we are building on a strategic relationship that already exists within our organization and looking to realize significant benefits in our revenue cycle," said Jody Ohlmeyer, vice president of finance at Ochsner. "We look forward to improved revenue cycle operations that will positively position Ochsner for the future."
The current relationship between MedAssets and Ochsner has MedAssets providing spend management and revenue cycle solutions, including group purchasing and supply chain analytics and consulting and claims management.
In recent months, Ochsner has invested in MedAssets' revenue cycle management tools focused on chargemaster management, price modeling, charge capture, denial management and supply chain and revenue cycle management linkage.
The Ochsner Health System is a non-profit, academic, multi-specialty healthcare delivery system based in southeastern Louisiana. This system includes seven hospitals and more than 35 health clinics. In 2008, Ochsner supported almost 1.3 million patient visits and generated more than $1.3 billion in net patient service revenue.
"This crucial program will create more effective financial operations and improved net revenue capture that will be experienced throughout the health system – from staff training to customer service," said Robert Wright, president of revenue cycle services at MedAssets.