NASHVILLE, Tenn., Aug. 24 /PRNewswire/ -- Emdeon, a leading provider of revenue and payment cycle management solutions for the healthcare industry, and BroMenn Healthcare System, headquartered in Bloomington-Normal, Illinois, recently implemented the Emdeon Patient Responsibility Estimator(SM) solution. Emdeon Patient Responsibility Estimator is an interactive software application used by BroMenn's patient access staff to inform patients of their financial responsibility prior to care delivery.
As patient out-of-pocket expenditures continue to rise, both patients and providers need transparency in the price of healthcare, particularly regarding patient financial responsibility in consumer-directed and other high-deductible health plans. Emdeon Patient Responsibility Estimator enables providers to increase revenue collection, decrease A/R days and reduce patient bad debt by delivering accurate and timely information about patient collectible amounts. This real-time solution gives quick access to estimates of patients' out-of-pocket expenses so providers can inform patients of expected costs and collect or hold funds during scheduling, registration, at time-of-service or at check-out.
"We are excited to support BroMenn's mission of improved health and well-being," said Philip Hardin, executive vice president of Emdeon Provider Services. "A knowledgeable patient is an empowered consumer. In any purchasing decision, consumers deserve to know the scope of treatment and costs in order to make intelligent choices. Healthcare is an industry that has not traditionally delivered this level of transparency to its consumer until after the service has been rendered. By setting the proper expectation prior to treatment, consumer payment estimates can alleviate patients' concerns around costs and improve the patient experience," Hardin said.
"We are delighted with the results we have achieved with Emdeon. If you read any of the industry journals, the data shows that point-of-service cash collections are down across the country, yet at BroMenn we have exceeded our cash collection goals by an average of 35% over the past four months," said Penny Nydegger, BroMenn's director of patient access. "Emdeon Patient Responsibility Estimator helps us demystify the complex financial aspects of healthcare for our patients, while increasing our opportunity for cash collections by 98% over last year," Nydegger said.
Emdeon Inc. is a leading provider of revenue and payment cycle management solutions, connecting payers, providers and patients in the U.S. healthcare system. The Company's product and service offerings integrate and automate key business and administrative functions of its payer and provider customers throughout the patient encounter, including precare patient eligibility and benefits verification, claims management and adjudication, payment distribution, payment posting and denial management and patient billing and payment collection. Through the use of the Company's comprehensive suite of products and services, which are designed to easily integrate with existing technology infrastructures, its customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle process.
About BroMenn Healthcare System
The BroMenn Healthcare System, headquartered in Bloomington-Normal, Illinois has more than 2,000 employees and has been in business for more than 110 years. The BroMenn System is comprised of BroMenn Regional Medical Center, a 225-bed hospital renowned for its neuro, cardiac, orthopedic and women's services; Eureka Community Hospital, a 25-bed Critical Access; BroMenn Physicians Management Corporation, comprised of 11 medical practices with specialties ranging from primary care and occupational medicine to cardiology, neurology and behavioral health; and the BroMenn Provider Network, a Physician Hospital Organization (PHO). BroMenn also offers residencies in Neurosurgery, Family Practice and Clinical Pastoral Education.
This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to Emdeon's operations and business environment, all of which are difficult to predict and many of which are beyond Emdeon's control. Forward-looking statements include information concerning Emdeon's possible or assumed future results of operations, including descriptions of Emdeon's business strategy. These statements often include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that Emdeon has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Although Emdeon believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Emdeon's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections and elsewhere in Emdeon's registration statement.
You should keep in mind that any forward-looking statement made by Emdeon herein, or elsewhere, speaks only as of the date on which made. New risks and uncertainties come up from time to time, and it is impossible for Emdeon to predict these events or how they may affect it. Emdeon has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.
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