7 hospitals outsourcing RCM functions

Listen

Several hospitals and health systems decided to outsource some finance jobs or other revenue cycle functions in 2021.

Below is a breakdown of seven of them:

Note: This is not an exhaustive list.

1. Bassett Healthcare Network in Cooperstown, N.Y., tapped Optum to provide IT and revenue cycle management services. As a result of the partnership, 500 Bassett Healthcare Network employees performing in-house functions will have the opportunity to transition to Optum. Optum will take over several revenue cycle management services, offer data and analytic capabilities and provide IT services to advance quality care and the patient experience.

2. Minneapolis-based Hennepin Healthcare on July 19 selected RSource to provide services for two new revenue cycle management programs. RSource will be Hennepin Healthcare's partner for its Veteran Administration claims recovery program and its coordination of benefits and patient involvement denials recovery program.

3. St. Louis-based Ascension's IT subsidiary, Ascension Technologies, plans to lay off about 651 remote workers this year as it outsources several functions. Ascension Technologies said it will begin working with a third party to take over the tech support for EHR and revenue cycle management responsibilities. A majority of the layoffs are expected between Aug. 8 and Dec. 10. 

4. Oklahoma City-based OU Health partnered with revenue cycle management services provider Ensemble Health Partners. OU Health entered the partnership to drive improved financial results for the health system, which has more than 1,300 physicians and advanced practice providers. Ensemble Health Partners will help ensure the health system receives full and fair payment from insurers.

5. Montgomery, Ala.-based Jackson Hospital partnered with revenue cycle management services provider TruBridge. The partnership seeks to make Jackson Hospital's billing and collection processes more efficient. It will also enable the hospital to monitor RCM progress daily and discover and increase payer opportunities.

6. Dallas-based Baylor Scott & White Health will outsource or retrain 1,700 employees who work in information technology, billing, revenue cycle management and other support services. The outsourcing plan is expected to save the health system $600 million over five years. The Dallas-based system announced plans for the restructuring in January. About two-thirds of the 1,700 employees will be joining third-party RCM, IT, billing or support staff vendors. About 600 to 650 positions will be eliminated. 

7. Naples, Fla.-based NCH Healthcare System on Jan. 28 partnered with Ensemble Health Partners. NCH Healthcare System entered the partnership to drive improved financial results for its two-hospital, 716-bed system. Ensemble Health Partners will help ensure the health system receives full and fair payment from insurers.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars