Mary Washington Healthcare latest to outsource revenue cycle
Virginia-based health system has selected Ensemble, joining numerous other hospitals that are outsourcing some or all of rev cycle operations.
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Mary Washington Healthcare in Virginia is outsourcing its revenue cycle operations.
The nonprofit health system of 60 facilities announced it has selected Ensemble Health Partners for its revenue cycle management, joining numerous other hospitals that are opting to outsource some or all of revenue cycle operations.
Increasing yield and reducing cost to collect are among the reasons hospitals outsource their RCM, said Ensemble Health Partners CTO Grant Veazy, in an interview with Healthcare Finance News in May.
WHY THIS MATTERS
Sixty-three percent of hospital and health system leaders have pursued at least one outsourcing solution, with revenue cycle functions being the top choice, according to Kaufman Hall's 2022 State of Healthcare Performance Improvement report.
Ensemble has also partnered with Carilion Clinic, Tower Health, Beebe Healthcare and Tallahassee Memorial Healthcare for end-to-end revenue cycle management.
In January, Ensemble Health Partners announced a partnership with Epic in the newly launched Epic Rev Cycle Partners program. The program is designed to help healthcare organizations optimize their use of Epic to improve revenue cycle outcomes.
Several health systems have outsourced all or part of RCM through Conifer Health, including Adventist Health, Dartmouth Health and Novant Health. Optum has also taken on revenue cycle operations for several health systems, including Allina Health, which reportedly transitioned 2,000 IT and revenue cycle employees to Optum.
THE LARGER TREND
Mary Washington Healthcare is a fully integrated, regional healthcare system that provides inpatient and outpatient care at over 60 facilities, including Mary Washington Hospital, a 471-bed tertiary hospital, Stafford Hospital, a 100-bed community hospital, and four emergency departments.
ON THE RECORD
"We are excited to partner with Ensemble and leverage their expertise and technological innovation in the revenue cycle industry," said Sean Barden, CFO at Mary Washington Healthcare. "This partnership supports our mission of improving the health of our community by providing the best medical care."
Email the writer: SMorse@himss.org
