Sloan-Kettering Cancer Center inks new revenue cycle deal
Memorial Sloan-Kettering Cancer Center, one of the nation's premiere cancer treatment centers, has signed a multi-year contract for revenue cycle management and collection management services.
Sloan-Kettering has purchased revenue cycle software and services from Muncie, Ind.-based Ontario Systems. The world-renowned cancer center will use the company's Revenue Savvy product to manage revenue cycle, including follow-up on third-party claims and management of the claim denial process.
Ontario Systems provides software and services for the healthcare and debt management industries.
Wil Davis, chairman of Ontario Systems, said Third-Party Follow-up and Self-Pay are the foundation of Revenue Savvy. He said they integrate best practices to better manage the revenue cycle - reduce days outstanding, optimize efficiency, and enhance productivity to increase cash collections.
"We are excited to have Memorial Sloan-Kettering Cancer Center join Ontario System's clients," said Davis. "Using technology to assist staff with tough tasks creates more efficient and happier employees and ultimately, a more robust bottom line."
The Revenue Savvy solution also includes Pre-Registration, whose charge is to verify insurance, estimate bills, among others; Financial Assistance, created to assess patient eligibility following government funding; and Vendor Management, an assignment system to write off bad debt, send information to the collection agency, and assign it to vendor management.
