Revenue Cycle for Large Practices

GE Healthcare helps healthcare executives minimize risk, maximize margin and enhance growth by delivering powerful revenue cycle solutions.

The solutions on this page are now offered by Virence Health and are no longer available from GE Healthcare. Please read about the solutions here and then take a moment to visit virencehealth.com to learn more or contact us.

Centricity Solutions for Financial Management is uniquely positioned to address the core principles of enterprise revenue cycle mandatory for all models of value-based care:

• An enterprise-wide approach to revenue cycle management operations across all care settings
• Eradicate waste in your financial processes by working the exceptions to best process.
• Optimize the mix of risk-based models that are right for your organization
• Successful delivery on value-based care arrangements demands a connected organization

By implementing an exception-based, enterprise-wide revenue cycle approach that is capable of managing all reimbursement models while creating a single patient financial record, you are driving outcomes to fuel your journey. The result is lower cost of operations, higher revenue yield and a more satisfied and engaged patient population. GE's mission is to help improve finanicial management in healthcare and optimize your financial outcomes every day.

Let's engage and get to work.

Explore the Centricity Solutions for Financial Management software solution portfolio:

Revenue Cycle Management
Centricity Business
Centricity Group Management
Centricity Practice Solution

Alternative Payment Model Solutions
Centricity Financial Risk Manager

Payer Connectivity Solutions
Centricity EDI Services
Centricity Payer Connect

Single view of the patient financial record ensures greater efficiency and flexibility across your enterprise. A single patient financial picture and statement provides a holistic, patient friendly approach to managing billing inquiries while helping to optimize your critical outcomes such as cost to collect, first pass denials, and aged A/R.

Optimize collections through improved point-of-service collections and workflows to ensure that claims are clean, prior to submission.

Reduce cost-to-collect with automation that helps improve efficiency by removing touch points and increasing effectiveness of staff and processes with tools such as integrated EDI for payer connectivity.

Lower A/R days. Lower net days in A/R by turning accounts receivable into cash.

Reduce denials. Improve cash collections, address and plan for healthcare reimbursement reform and increase staff productivity.

WATCH

Centricity Business - Combined Business Office Demo

Watch this demo to learn how Combined Business Office provides an intuitive revenue cycle system that spans both hospital and physician billing across the entire organization in a single workflow.

Centricity Business - Enterprise Task Manager Demo
Watch this demo to learn how you can leverage Enterprise Task Manager to automate and prioritize daily tasks to maximize productivity and efficiency of your business processes.

Centricity EDI Services Demo
Watch this demo to learn how you can leverage Centricity EDI Services to help increase administrative efficiencies and boost financial performance.

Centricity Business Billing Services Provider Demo
What this demo to learn how GE Healthcare can provide solutions for organizations that provide billing services that increases productivity and reduces waste.

LEARN

WHITE PAPERS
How Enterprise Financial Management Helps Providers Minimize Risk in Value-Based Care



Creating Financial Resiliency

The Need to Embrace Profit Cycle Management in Healthcare

Interoperability: The Case for Considering Best-of-Breed Revenue Cycle Management Systems

Healthcare By Any Other Name - eHealth Whitepaper on IT needs for ACOs

Sage Growth Partners Whitepaper: Unleashing the Power of Centricity Business

WEBINARS
ACO Journey to Help Improve Population Health

Health Reform's Impact on Your Hospital's Financial Future

Turning Insight Into Action: Analytics & Effective Denials Management

Revenue Cycle Performance: Successful Approaches to Reform Webinar featuring Sage Growth Partners

DISCOVER

BROCHURES
Centricity Solutions for Financial Management

Centricity Business Hospital & Health Systems Solutions

Centricity Business Large Practice Solutions
Centricity Solutions Financial Management for Business Process Outsourcing

DenialsIQ

CASE STUDIES
Virginia Commonwealth University Medical Center
Centricity Business helps Virginia Commonwealth University achieve new heights in financial performance while delivering award-winning care.

Stony Brook
Stony Brook University Physicians reduced paper costs by 40% and reduced Accounts Receivable by 11%.

University Physician, Inc. (UPI)
With the help of Centricity EDI Services, UPI improved its eligibility verification process, freeing resources to perform other registration and insurance quality functions.

Today’s challenges demand a high-performing revenue cycle with supporting processes and operations.

The right partner can help you can uncover opportunities and fine-tune workflows to boost your revenue cycle performance.

GE Healthcare’s revenue cycle management experts possess experience and knowledge of your Centricity Business solution plus expertise in revenue cycle management workflows and processes. Together, we can help find hidden opportunities for improvement.

Time and again, Centricity customers like you discover opportunities with the help of a GE Healthcare expert. Examples of our results include:

• Reduced manual payment posting by over 50% within 1 month¹
• Increased working capital by $2.8 million per year²
• Identified process gaps to help proactively address performance issues to substantially lower operating costs³
• Reduced denials by 33%²
• Saved $300,000/month in reduced rework¹

With an average of 25+ years of industry experience, our consultants possess the deep knowledge required to understand where issues likely exist, giving you the ability to unlock opportunities and optimize existing processes. Align people, process and technology to improve productivity, efficiencies, cash flow and return on investment.

We specialize in:• Performance Optimization• Training & Knowledge Solutions• POS Collections• Front End Processing• Denials Management• Eligibility Verification • Self-Pay Optimization• Workflow Efficiency• Outliers that Impact Performance• FQHC Regulatory Compliance • Peer-to-Peer Benchmarking • KPI-Focused Action Plans & Analytics

1 Schumacher Group Medical Billing, 2015
2 Orlando Health, 2015
3 UT Medical Group, 2015

Do you want to help your employees:

• Work more efficiently?
• Make fewer mistakes?
• Take full advantage of Centricity Business software to improve your bottom line?

We can help across your enterprise  front desk, billing office and information technology staff.
Education Consulting Services include:

• Reviewing current education programs and recommending improvements
• Planning to help establish a new education program
• Developing curriculum, courseware and eLearning tailored to your organization
• Teaching your staff  onsite or remotely, scheduled for your convenience
• Providing Go-Live support at product roll-out
• Augmenting your Education staffing
• Our collaborative, interactive approach to training for front desk and billing office staff focuses on:
• Hands-on exercises with scenarios that reflect your organization’s workflows
• Learning and applying new skills immediately while students use Centricity Business
• Maximizing real-world practice to increase retention of new skills
• Teaching specific job competencies to make the best use of employees’ time

We also provide functional and technical application training onsite at your organization or online through instructor-led distance education.

Education is tailored to meet your organizations’ specific needs. Sample courses include:

• Access Management: Enterprise Wide Scheduling, Referrals, Visit Management
• Patient Financials: Billing and Accounts Receivable, Transaction Editing System, Enterprise Task Management, Hospital Patient Accounting, Combined Business Office, Financial Risk Manager, Claims Form Generator
• Technology Foundation: Electronic Data Interchange, Database Management System, Forms Demand Language, Caché ObjectScript, Security Plus, Advanced Web

Contact Centricity Services today to learn more. (click through to contact us page).

Attempting to gather data to see the full picture of your workflow challenges and successes and how your system is performing against others can be overwhelming. The Centricity Business Client Metrics Program gives you the capability to analyze performance through a suite of quantifiable components to help drive productivity and financial improvements.

Currently more than 100 Centricity Business customers utilize Client Metrics to identify productivity gains and sources of challenges. Schumacher Group applied the use of the Client Metrics Program in concert with GE’s Advisory Services and saw a 51% reduction in claim rejections and a 42% reduction in claim denials with 10,000 fewer rejections and denials received and worked each month.¹

1 Schumacher Group results based on use of Client Metrics Program and GE Healthcare Advisory Services from January 2013 - December 2013.

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