The need for a common financial platform to support physician practices, remote facilities and clinical information systems has prompted Capital Region Health Care to plan to replace its revenue management system.
The Concord, N.H.-based health system will implement McKesson’s Horizon Enterprise Revenue Management on top of McKesson’s Horizon Clinicals. The revenue management solution is designed to improve the economics of care by helping health systems manage the complex reimbursement, collection and patient management issues they face every day.
“Our goal is to help our providers improve their operations as we update and modernize our health system’s overall approach to revenue management,” said Bruce Burns, chief financial officer at Capital Region Health Care.
The system includes the 225-bed Concord Hospital and several other healthcare facilities. The hospital employs more than 150 physicians and is supported by an additional 25 nurse practitioners and physician assistants across multiple sites, according to Burns.
According to CRHC administrators, adopting a common revenue management platform across the health system will help them to better align with physicians. They also expect to establish stronger relationships with joint venture partners such as surgery centers, imaging facilities and the visiting nurses association.
The software enables hospitals to assess the financial impact of all care decisions to forecast cash flow and net revenue in real time. CRHC plans to use Horizon Enterprise Revenue Management to manage financial matters across the entire patient care experience, regardless of where care is delivered.
“This new solution should enable our physicians to capture and share data between their systems and the hospital systems, making the transition to electronic health records much smoother as the practices share information appropriately and securely,” Burns said. “We anticipate that this will place us in a good position to take advantage of future government incentives and reimbursement reform.”
“We believe such integration can lead to improved patient satisfaction, enhanced operations and healthier bottom lines for leading health systems such as Capital Region,” said Loren Buysman, senior vice president and general manager of revenue cycle for Atlanta-based McKesson Provider Technologies.