California radiologists tap McKesson for billing, compliance services
Thousand Oaks Radiology Group, an 8-physician practice based in Thousand Oaks, Calif., has chosen McKesson Revenue Management Solutions (RMS) to provide comprehensive medical billing and accounts receivable management services.
The practice expects the partnership to help reduce costs, generate greater revenue cycle efficiency and strengthen efforts for regulatory compliance. Thousand Oaks Radiology currently provides a full spectrum of diagnostic and interventional radiological services to the Conejo Valley and Ventura County areas through Los Robles Hospital and three stand-alone imaging centers.
"We're very enthusiastic about our new partnership with McKesson," said Barry Klein, M.D., managing partner of Thousand Oaks. "With the ongoing decline in reimbursements, intense regulatory pressure and the many unknowns surrounding reform, we wanted to partner with a company that can help us optimize our collections and minimize our costs. In McKesson, we believe we've identified the best in the industry, and we look forward to working with them to strengthen the practice."
Along with helping improve Thousand Oaks' revenue cycle capabilities, Klein said McKesson will provide ancillary services that include new compliance safeguards, ongoing physician documentation education and better business reporting. He said McKesson's powerful reporting capabilities will give the group previously unavailable insight into operational and financial metrics. Klein also noted that the group's billing will be handled locally through McKesson's Thousand Oaks-based Radiology Center of Excellence, one of the company's 15 regional radiology billing offices nationwide.
Pat Leonard, president, RMS, said that McKesson's partnership with Thousand Oaks reflects a growing awareness in the radiology community that the challenges facing the specialty demand ongoing, external expertise.
"Radiology has been hit by a number of different forces, and effectively managing the challenges groups face today is difficult," Leonard said. "McKesson understands the issues and is committed to easing the burden, so that physicians can concentrate on the practice of medicine." Leonard said that commitment is reflected in McKesson's Better Health 2020™ strategy, a comprehensive initiative designed to equip providers with the ability to reduce costs, improve financial performance and successfully manage complex payment models.
A leader in medical billing and practice management services, McKesson RMS comprises more than 6,500 experienced revenue cycle professionals. Its services are uniquely designed to help practices improve efficiency and grow revenues while staying current with the latest regulatory requirements. Revenue Management Solutions plays a strategic role in McKesson's Better Health 2020 strategy, which is focused on providing the capabilities needed to reduce costs, improve financial performance and successfully manage complex payment models.
About Thousand Oaks Radiology Group
Thousand Oaks Radiology was founded in 1981 and has long been a leader in bringing advanced imaging capabilities to its service area. Thousand Oaks was the first practice in the region to deploy a CT scanner and the first to bring an MRI to Ventura County. Capabilities today include the latest MRI, CT, PET/CT, ultrasound and x-ray services. Thousand Oaks also provides a full spectrum of minimally invasive interventional radiology services, including stroke and trauma intervention, vascular intervention and stent placement and dialysis graft thrombolysis. Thousand Oak physicians have specialized training to provide a range of services in the disciplines of orthopedics, neurology, oncology, women's health, cardiology, pediatrics and internal medicine. For more information, visit http://toradiology.net/
About McKesson
McKesson Corporation, currently ranked 14th on the FORTUNE 500 list, 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 www.mckesson.com.
