Navigation Links
CSC Signs Five-Year Outsourcing Extension With Aspen Valley Hospital
Date:2/2/2009

Aspen Valley Credits Outsourcing Support as Contributor to Profit Gain

FALLS CHURCH, Va., Feb. 2 /PRNewswire/ -- CSC (NYSE: CSC) today announced that it has signed a five-year extension to provide business process outsourcing (BPO) services for Aspen Valley Hospital (AVH) located in Aspen, Colo. Financial terms were not disclosed.

Under the new agreement, CSC will continue to provide business office support, including billing, accounts receivable and third-party claims reconciliation. AVH signed the original agreement in December 2005 with First Consulting Group, which CSC acquired in January 2008. During the initial contract, AVH profits rose from $2.4 million in 2005 to $10 million in 2008.

"Our experience in outsourcing our business office functions to CSC has created a massive turnaround that outstrips anything I've seen in my 25 years in hospital administration," said Terry Collins, chief financial officer of Aspen Valley Hospital. "As our revenue stream has improved, customer satisfaction related to billing has also increased significantly."

"AVH saw a major opportunity to improve their processes and transform the way they do business," said Deward Watts, president of CSC's Global Healthcare Sector. "By using CSC to handle back office functions, AVH was able to greatly improve cash flow and refocus its resources on its number one priority - the patient."

In terms of business improvements, days cash on hand rose from 77 in January 2006 to a high of 278 days in October 2008. Collections also improved greatly; gross days in accounts receivable were reduced from a high of 171 days to a low of 36 days. At the same time, AVH's net bad debt write-offs fell from 8.7 percent of revenues to 3.3 percent. In November 2008, when many hospital ratings were being downgraded, Moody's Investor Services affirmed AVH's bond rating of Baa3. Moody's cited one strength of the hospital as "continued growth in liquidity," affirming the increased success of the business office during the past few years.

About CSC

CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 91,000 employees and reported revenue of $17.3 billion for the 12 months ended Oct. 3, 2008. For more information, visit the company's Web site at www.csc.com.


'/>"/>
SOURCE CSC
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Current and Emerging Therapies Have No Advantage Over Enbrel in Reducing the Signs and Symptoms of Rheumatoid Arthritis
2. Blunt Marks Anniversary of Roe v. Wade, Signs Letter in Defense of Pro-Life Legislation
3. Emageon Signs Agreement with Integrated Health Network MultiCare
4. blinkx Signs Premiere Fitness Partners to Help Users Find the Perfect Health Regimen and Routine
5. Oridion Signs Strategic Development and Marketing Agreement with Global Healthcare Company
6. China-Biotics, Inc. Signs Agreements With Four Additional Food Manufacturers
7. Seventeen Months After Cord Blood Transplant - Child is Free of Signs of Cancer
8. Team Designs Gold Nanoparticles to Deliver Multiple Drugs
9. Orion Health Signs Trinity Design for Japanese Market
10. DelSite Chairman George DeMott Resigns
11. UCLA signs historic memorandum with pediatric institution in Tokyo
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... First Choice Emergency Room , the largest network of independent freestanding ... of its new Mesquite-Samuell Farm facility. , “We are pleased to announce Dr. ... James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. , Dr. ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson ... Recently, he has implemented orthobiologic procedures as a method for treating his patients. ... the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons ...
(Date:6/25/2016)... Canada (PRWEB) , ... June 25, 2016 , ... Conventional ... pursuit of success. In terms of the latter, setting the bar too high can ... risk more than just slow progress toward their goal. , Research from ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Those who have ... these feelings, many turn to unhealthy avenues, such as drug or alcohol abuse, as ... Michigan, has released tools for healthy coping following a traumatic event. , Trauma sufferers ...
(Date:6/24/2016)... ... 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out of ... verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... throw rocks at my other children and say he was going to kill them. ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... Research and Markets has announced the ... to 2022" report to their offering. ... patients with kidney failure, it replaces the function of kidneys ... blood and thus the treatment helps to keep the patient ... Increasing number of ESRD patients & substantial ...
(Date:6/23/2016)... June 23, 2016  In a startling report released today, ... residents by lacking a comprehensive, proven plan to eliminate prescription opioid ... ranking of how states are tackling the worst drug crisis in ... states – Kentucky , New Mexico ... . Of the 28 failing states, three – ...
(Date:6/23/2016)... Capricor Therapeutics, Inc. ... company focused on the discovery, development and commercialization ... in its ongoing randomized HOPE-Duchenne clinical trial (Halt ... its 24-patient target. Capricor expects the trial to ... 2016, and to report top line data from ...
Breaking Medicine Technology: