RCM Vendors – Contract for Results

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Presentation transcript:

RCM Vendors – Contract for Results Tracy Bauer, CEO, Midwest Medical Center Lori Zindl, CEO, OS inc.

Background Introductions Midwest Medical Center - Then New facility Staffing shortages Increasing A/R Collections averaging $850K

Evaluation Decision to look for outside help Complexity requires expertise Improved efficiency Reducing cost/Budget neutral Improved A/R performance and cash collections Important qualities for partner Mission statement/business philosophy Compliance Willingness to contract for deliverables

Outcomes Midwest Medical Center – Now Bumps in the road Professional Business Office Staffing Increasing A/R Collections averaging $2M Bumps in the road Contract “creep” Partner margins decreasing Contract negotiations

Lessons Learned Partner over Vendor Vendor sells a product or service Partner solves problems – delivers results (Solution Provider) Contract with specific deliverables or results RCM solutions need to be win/win for both parties

Questions?