Compliance assistance, reporting capabilities expected to boost financial results
ATLANTA - May 3, 2012 - Radiology Associates of Fox Valley (RAFV) in Neenah, Wisc., has selected McKesson Revenue Management Solutions (RMS) to help the group modernize its revenue cycle operations and navigate rapid changes in the healthcare billing and coding environment. The 33-physician practice will benefit from McKesson's industry-leading billing services and compliance program as well as its in-depth knowledge of the Wisconsin payer market. Combining RMS's automated data collection and compliance capabilities with its radiology-specific coding expertise is expected to help RAFV improve its financial performance and help to reduce regulatory risk.
"Like a lot of practices, we're facing strong headwinds in today's radiology market," said Monica Nichter, RN, MSN, practice administrator of RAFV. "Developing a long-term strategic relationship with McKesson RMS will help us weather these challenging times. We're particularly excited about McKesson's ability to support the complex billing process for interventional radiology, which is an important component of our practice."
RMS will help the group stay current with the latest regulatory requirements, while improving coding accuracy rates and minimizing lost revenues. With more oversight and auditing of the charge capture process, the group expects to reduce denials, improve cash collections and mitigate regulatory risk. In addition, RAFV's strategic decision-making will be enhanced with web-based reporting tools designed to enable real-time analysis of operational and financial data down to the patient level.
"We will get immediate access to vital information on the performance of our practice, from accounts receivables and compliance to staff productivity," added Nichter. "With that level of insight and transparency, we're equipped to face the challenges ahead."
McKesson RMS is the nation's leading provider of medical billing and practice management services, supported by a team of more than 4,000 experienced revenue cycle professionals. The services are designed to help radiologists receive the correct reimbursement and minimize risk.
"Radiology billing is highly complex and growing even more so under changing regulations," said Pat Leonard, senior vice president and general manager, McKesson Revenue Management Solutions. "Radiologists can benefit from the expertise that a full-service company like McKesson can provide. We are well-positioned to help organizations like RAFV adapt to the current healthcare environment while making preparations to protect the financial health of their practices into the future."
About Radiology Associates of Fox Valley
Radiology Associates of Fox Valley, based in Neenah, Wisconsin, was founded in 1939 and today covers 10 hospitals and numerous clinics. The group consists of 33 radiologists, a practice administrator, nurse practitioner and an IT manager. RAFV is committed to providing high quality, comprehensive and state-of-the-art diagnostic and therapeutic imaging services. The practice seeks to be an integral part of the medical community through best care practices, positive medical staff interactions and continuous training. For more information, visit http://foxvalleyradiology.com.
McKesson Corporation, currently ranked 15th on the FORTUNE 500, 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 http://www.mckesson.com.
Yancey Casey, 404-338-2468