August 5, 2013 – HARRISBURG, Pa. – (BUSINESS WIRE) – VisiQuate, a leading business analytics firm, announced today it has been selected by Geisinger Health System to help simplify the complexities of the healthcare revenue cycle, improve yields, reduce time to revenue, and lower cost of collection.
“Building a best practice revenue cycle or management process environment, improving staff skills, and creating a culture of shared accountability helps achieve our full potential for improved patient satisfaction and, as a result, positive financial performance.”
“With margins that are typically one to three percent, it’s crucial to get maximum efficiency from every component of the revenue cycle,” Geisinger Vice President for Revenue Management Barbara Tapscott said. “This has become even more difficult due to the increasing complexities around self-pay transactions, and risk-shifting toward high-deductible health plans.”
VisiQuate’s predictive analytics will help Geisinger segment receivables with surgical precision, and focus on accounts that offer the most positive results. The agreement has a multi-year term, but VisiQuate has committed to deliver a working solution in the unusually short time of 90 days.
“We looked at a number of business analytics firms,” Tapscott said. “But many could only provide data on past performance. VisiQuate uses past history as a starting point, but its predictive capability helps us actively shape future operations. It also helps that VisiQuate has a strong East Coast presence, with an office in Central Pennsylvania.”
For five consecutive years, Geisinger Health System has earned HFMA’s MAP Award for High Performance in Revenue Cycle. It is the only organization that has won this award five times. Kevin F. Brennan, FHFMA, CPA, the EVP of Finance and CFO of Geisinger Health System said, “Building a best practice revenue cycle or management process environment, improving staff skills, and creating a culture of shared accountability helps achieve our full potential for improved patient satisfaction and, as a result, positive financial performance.”
Scott Shamblin, Senior Vice President of VisiQuate, said, “We are proud that a first-tier organization like Geisinger has chosen us to help optimize their business activities. We realize what an important role the revenue cycle plays in supporting Geisinger’s mission, and we look forward to years of success.”
About Geisinger Health System
Geisinger Health System is an integrated health services organization widely recognized for its innovative use of the electronic health record, and the development of innovative care models such as ProvenHealth Navigator® and ProvenCare®. As the nation’s largest rural health services organization, Geisinger serves more than 2.6 million residents throughout 44 counties in central and northeastern Pennsylvania. The physician-led system is comprised of more than 19,000 employees, including a 1,000-member multi-specialty group practice, six hospital campuses, two research centers and a 413,000-member health plan, all of which leverage an estimated $6.1 billion positive impact on the Pennsylvania economy. The health system and the health plan have repeatedly garnered national accolades for integration, quality and service. In addition to fulfilling its patient care mission, Geisinger has a long-standing commitment to medical education, research and community service. For more information, visit www.geisinger.orgor follow the latest Geisinger news and more on Twitter and Facebook.
Founded in 2009, VisiQuate delivers dynamic SaaS performance management solutions that transform decision-making throughout the enterprise, bridging the gap between Business Analytics and real-world results. Going beyond traditional Business Analytics, VisiQuate’s clients also benefit from the successful integration of actionable workflow, guided eLearning solutions, and a rich complement of industry domain experts who work closely with VisiQuate’s clients to help them achieve the best performance outcomes. Headquartered in Santa Rosa, CA, VisiQuate currently serves clients in healthcare, financial services, and other industries. For more information, visit www.visiquate.com or contact Scott Shamblin at (469) 939-7425.