Louisiana radiology practice partners with McKesson to drive improvements in revenue management
Radiology Associates LLC, a full-service diagnostic and interventional radiology practice in Baton Rouge, La., has replaced its long-time billing vendor with McKesson Revenue Management Solutions (RMS). With 14 physicians serving one of the largest private medical centers in Louisiana as well as an imaging center, the practice needed a partner with the expertise and resources to help optimize reimbursements and improve financial performance.
Concerned about the increasing risk of governmental audits, Radiology Associates turned to McKesson RMS for its industry-leading compliance program, which will help the group stay current with the latest regulatory requirements, while improving coding accuracy rates and minimizing lost revenues. With more oversight and auditing of the charge capture process, the group expects to reduce denials, increase cash collections and mitigate regulatory risk.
"Radiology coding is highly complex and growing even more complicated under changing regulations," said Tim Barrett, chief executive officer, Radiology Associates. "With McKesson RMS, we have the benefit of a partner with a deep portfolio of services and the track record to help us protect the financial health of our group over the long term."
The practice's strategic decision-making will be enhanced with web-based business intelligence and reporting tools designed to enable real-time analysis of financial data down to the patient level.
"We will get immediate access to vital information on the performance of our practice, from accounts receivables and staff productivity to profitability and financial performance," added Barrett. "With that level of insight and transparency, we should be able to propel our practice forward."
McKesson RMS is the nation's leading provider of medical billing and practice management services, supported by a team of more than 4,000 experienced revenue cycle professionals. The services are designed to help radiologists optimize reimbursement, minimize risk and increase revenue.
"With the need for more efficient revenue management and data-driven business operations, radiologists can benefit from the expertise and services a full-service company like McKesson RMS can provide," said Pat Leonard, senior vice president and general manager, McKesson Revenue Management Solutions. "We are well positioned to help organizations like Radiology Associates achieve their financial goals and realize sustained growth."
About Radiology Associates LLC
Radiology Associates brings 60 years of quality radiology care to South Louisiana. The 14- member partnership services the greater Baton Rouge Metropolitan Area and surrounding communities with full-service diagnostic and interventional radiology.
About McKesson
McKesson Corporation, currently ranked 15th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit http://www.mckesson.com.
