Atrium Health: Partnership with Navicent Health expected to save $30M in first year

Charlotte, N.C.-based Atrium Health and Macon, Ga.-based Navicent Health said their partnership is expected to result in realized savings of $30 million by the end of 2019.

The partnership, which took effect Jan. 1, allowed Atrium to expand into Georgia, with Navicent serving as a regional hub for Atrium. 

Chris Wilde, executive vice president and CFO of Navicent, discussed savings opportunities under the partnership during a Navicent Health Baldwin hospital board meeting in Milledgeville, Ga., according to The Union-Recorder.

Mr. Wilde said supply chain and revenue cycle are the largest areas for savings opportunities.

He attributed a lot of the savings so  far to Navicent joining Atrium's general purchasing organization, allowing  Navicent to spend less on supplies and equipment.

As far as the revenue cycle, savings are from "better collections, better capabilities in the revenue cycle as we look at denials and improvement in processes," said Mr. Wilde, according to the Union-Recorder.

Atrium representatives also have reportedly used analytics to review the revenue cycle at Navicent Health Baldwin and provided recommendations on charges and general coding in the hospital's emergency room.

Overall, Atrium and Navicent see the partnership as beneficial.

"We are excited about the many opportunities our integration affords, both financial and non-financial," a joint statement reads. "We are putting projects into place in the second half of the year, and at this point, we have every reason to believe we will meet that [$30 million] number."

 

More articles on healthcare finance:

7 quotes from hospital RCM leaders this year
Hahnemann University Hospital's financial challenges and planned closure: a timeline
What one expert wants newer billers to know about coding maternity and delivery services

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers