Healthcare Financial Management for Hospitals and Health Systems
Never before has revenue cycle performance been more important to healthcare financial management. Healthcare's shift from volume- to value-driven payment is transforming the delivery of patient care, increasing the focus on managing care outcomes, as well as costs and revenues across multiple settings and providers. Now, by combining efficient, automated workflow with data-driven, actionable insights, your organization can thrive in the midst of this change.
Centricity Solutions for Financial Management offers Hospitals & Health Systems the capabilities necessary to succeed in today's dynamic market.
Powerful, enterprise-wide revenue cycle management solutions
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 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.
Revenue Cycle Consulting Services
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
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
Education Consulting Services
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?
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
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
Client Metrics Consulting
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.
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.
WATCHCentricity 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.
How Enterprise Financial Management Helps Providers Minimize Risk in Value-Based Care
Maximizing Point of Service Collections: Improve Health System Financial Performance
Automated Revenue Cycle Management: Improving financial performance in uncertain times
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
ACO Journey to Help Improve Population Health
Health Reform's Impact on Your Hospital's Financial Future
Revenue Cycle Performance: Successful Approaches to Reform Webinar featuring Sage Growth Partners
Centricity Solutions for Financial Management
Centricity Business Hospital & Health Systems Solutions
Centricity Business Large Practice Solutions
Centricity Financial Risk Manager
Centricity Solutions Financial Management for Business Process Outsourcing
Virginia Commonwealth University Medical Center
Centricity Business helps Virginia Commonwealth University achieve new heights in financial performance while delivering award-winning care.
Centricity™ Business helps Schumacher Group make significant workflow improvements and reduce rework costs by approximately $3.8 million per year.
Centricity Solutions for Financial Management helps HealthCare Partners manage 1.2 million patients covered under risk arrangements across 7 geographically diverse markets.
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.
Industry Knowledge Center
Healthcare is a fast-changing domain. GE Healthcare can help you stay on top of the trends that will shape the industry for years to come. Visit our Industry Knowledge Center to learn about these trends.
Customer Reference Program
GE Healthcare IT Reference Program
Collaborate with us to promote thought leadership and help similar organizations make informed business decisions. We are dedicated to supporting our customers in their goal to improve patient care and advance the healthcare industry. By participating in the GE Healthcare IT Reference Program, you will have the opportunity to showcase your innovative use of technology to a larger audience of peers, practitioners, patients and the greater healthcare industry.