Hospital Hopes Financial IT Tool Will Drive Down Costs
April 21, 2010 - With the complexity of payer requirements for hospitals increasing as well as the risks associated with using aging technology platforms, more and more health care providers are turning to health IT-based solutions to better manage their critical revenue cycle processes.
University Hospitals in Cleveland became the first academic medical center in the nation to go live on the enterprise-wide, web-based revenue cycle solution Siemens Healthcare’s Soarian Financials.
The integrated enterprise revenue cycle solution is designed specifically to drive down costs and improve operational efficiencies by embedding patient access, a contract engine, an enterprisewide master person index (EMPI), a claims engine, and denial management into a comprehensive revenue cycle solution.
According to University Hospitals officials, the large integrated health network, composed of six community hospitals and the 1,032-bed University Hospitals Case Medical Center, chose the Soarian Financials to help it establish an enterprise solution where patient information could flow from scheduling to registration to billing to collections in order to improve the patient experience and net revenue realization.
The implementation is part of the health care provider’s overall strategy to leverage technology to better manage operations, build positive relationships with patients and physicians, and optimize financial and clinical results. Additionally, this live event completes University Hospitals’ migration of its hospital facilities to Soarian Financials and marks their sixth facility to deploy solutions from Siemens’ Soarian Health Information System portfolio.
In conjunction with their Soarian Financials launch, University Hospitals also went live on Soarian Scheduling, which delivers a workflow-driven approach to health care providers’ patient scheduling and resource management. This tool helps manage the complexity of the scheduling process, book tighter schedules, and reduce delays and waste.
For more information: www.siemens.com/healthcare