Wheaton Franciscan Healthcare Improves All Points Of The Revenue Cycle

In the face of growing patient financial obligations and tighter regulations, Wheaton Franciscan Healthcare uses MedeAnalytics Revenue Cycle and Patient Access to intelligently manage accounts receivable (AR) while also driving collections and efficiency in patient access.

Challenge

In today’s economy, hospitals everywhere face decreased reimbursement rates and aging accounts receivable as a result of increased patient responsibilities and rising numbers of uninsured and underinsured patients. Nationwide, these patients accrue tens of billions of dollars each year in unpaid medical bills. In Wisconsin specifically, cities like Racine, which saw its unemployment rate peak at 11.5 percent, have experienced some of the worst effects of the recession.

In addition, many hospitals have experienced decreased revenues due to tighter regulations. Considering the government’s compliance activities, many insurance companies have followed suit, recouping money on accounts as old as three or four years.

As a result, efficiently managing accounts receivable has become more important than ever. Michelle Jones, director of patient financial services for Wheaton Franciscan Healthcare, said, “Every dollar has become that much more important.”

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