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Emdeon: An Intelligent Network for Faster Revenue Generation
Neil E. de Crescenzo, President & CEO, Emdeon
Technology has made an impact on healthcare and left its fingerprints on this sector, which has paved the path for change for several health providers. Hospitals and medical practices have been impacted by demands to improve quality, lower costs, increment productivity, and increase ROI. As a result, healthcare providers have observed changes in accommodation; quality, efficiency, and an incremented fixate on ameliorating financial management, revenue cycle processes, and workflows. Healthcare revenue cycle is beginning to feel the effects of consumerism as employers are laying emphasis on medicinal services costs. This has influenced healthcare providers to concentrate more on patients and revenue generation to improve the quality of their services. Understanding the market scenario, Emdeon provides integrated revenue cycle management services to help healthcare professionals optimize their cash flow management while reducing administrative costs.
Emdeon is a healthcare improvement platform powered by an intelligent network. “We provide leading business, technology and information solutions to transform the financial and clinical aspects of healthcare,” says Neil E. de Crescenzo, CEO, Emdeon. On the revenue cycle management side, Emdeon offers a suite of solutions to optimize the revenue generation. The suite comprises of solutions like Emdeon Patient Access Master, Emdeon Claim Master, Emdeon Payment Automation, and Emdeon Patient Connect.
Emdeon's Patient Access Master is designed for hospitals and health systems for the purpose of eligibility, real-time benefits, verification in batches, patient responsibility estimation, address validation, and healthcare risk scoring. It enables evaluation of medical necessities to deliver a comprehensive patient financial record for making payments effectively. Similarly, managing patients’ payments, checks, ERA's are critical tasks for providers to make the billing procedure simpler.
To eradicate the costs and complexities involved in this process, Emdeon offers a holistic and comprehensive solution, Emdeon Payment Automation.
We provide leading business, technology and information solutions to transform the financial and clinical aspects of healthcare
Emdeon is transforming the industry with a 360-degree approach to revenue cycle management enabling providers to be paid fast. For instance, Concord Integrative Health CIHC) organization needed a solution to Furthermore, to simplify consumer billing and payment processes, Emdeon offers Patient Connect. This solution facilitates provider-patient communications for optimized revenue collection and enhanced patient satisfaction. “This print, online and point-of-service collection suite addresses the challenges associated with billing and collecting patient receivables bringing about expanded self-pay accumulations, enhanced operational efficiencies and diminished regulatory expense costs,” shares Crescenzo.
eliminate the manual processes associated with billing and required a platform to execute online payments. After analyzing several solutions, CIHC decided to partner with Emdeon to reduce the burden on their staff in the billing service. Emdeon implemented Patient pay online solution to simplify the entire billing procedure. With such a patient-friendly solution, the hospital improved their revenues in a more modernized way and the costs in printing and mailing the bills drastically reduced.
By effectively driving workflow optimization in the healthcare arena, Emdeon has now rebranded to 'Change Healthcare' to reflect its diverse capabilities and solutions. “We’ve initiated this idea to evolve our brand image in the healthcare market with significant impact on our business,” says Crescenzo. As part of their expansion strategy, Emdeon has acquired Altegra Health to combine their intelligent platform with cloud-based analytics platform for a better position and to offer more support to their clients.
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