Date Posted: 6/10/2009
Providence Health & Services Increases Revenue by $35 Million Using Concuity ClearContracts
Providence expands use of Concuity products across 16 facilities following success to date increasing net revenue
VERNON HILLS, Ill., June 8 /PRNewswire-FirstCall/ -- Concuity, A Healthcare Division of Trintech, Inc. (Nasdaq: TTPA - News) announced today that Providence Health & Services signed an agreement to expand the breadth of services provided to the multi-hospital system. Providence Health & Services has, based on the success achieved to date, extended its agreement to include the addition of four more facilities using the ClearContracts software-as-a-service revenue management solution from Concuity.
The expanded agreement includes an extension of Concuity's ClearContracts solutions to the 16 hospitals located in the Washington, Alaska, Montana and California regions of Providence Health & Services. Providence uses ClearContracts for all contract management functions including accounts receivables management, account recovery, management reporting and managed care contract negotiations.
The success of Providence will be honored by Concuity at the annual HFMA show, ANI, in Seattle on Monday, June 15, 2009.
Providence Health & Services is a not-for-profit health system committed to providing a comprehensive array of services to meet the needs of communities across five states, including Alaska, Washington, Montana, Oregon and California. Providence continues the legacy of the Sisters of Providence and the Sisters of the Little Company of Mary in the West spanning more than 150 years.
"The expansion of our relationship with Concuity is a reflection of working with a company that understands our needs, as well as the hospital managed care and business office functions. They have proven time and again that they can deliver significant financial improvement within our organization. Since implementing ClearContracts into our organization we have increased collections by over $35 million in the course of 5 1/2 years, while improving our contracting capabilities significantly," stated Matt Blackmore, Manager of Contract Compliance for the Washington/Montana Region of Providence Health & Services.
Paul Byrne, Concuity's President, stated, "Our relationship with Providence has been very successful in helping improve their financial performance, so they can continue to focus on delivering quality patient care without worrying about being paid correctly for the services they provide to their patients. We also appreciate their support, particularly as an early adopter of our solution, and we look forward to working together with Providence Health & Services for many years as we expand the breadth of our product in the marketplace."
About Concuity
Founded in 2000 by a group of healthcare industry visionaries, and now a division of Trintech, Concuity improves its customers' bottom line performance by delivering targeted revenue recovery solutions, including ClearContracts(TM), that ensure accurate claims reimbursement, improve workflow and payment collection, streamline contract negotiations, optimize cash flow and profitability, and ensure accurate implementation and compliance.
Concuity's rich industry knowledge and market-focused technology solutions and services empower your organization to identify and then eliminate systemic issues that cause revenue inefficiencies. The result is a significant return on investment with long term sustainable improvement in revenue and profitability for our clients. For more information, call 866.342.4636 or visit www.concuity.com.
About Providence Health & Services
Providence Health & Services is a not-for-profit organization, sponsored by the Sisters of Providence religious community, made up of 27 hospitals, more than 35 non-acute facilities, physician clinics, a health plan, a liberal arts university, and numerous other health, housing and education services in Alaska, Washington, Montana, Oregon and California. The corporate headquarters is in Renton, Wash.
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