Independent hospital network embraces digital transformation in revenue cycle management to support better outcomes across its rural community hospitals
FinThrive, Inc.™, a healthcare revenue management software-as-a-service (SaaS) provider, and Pennsylvania Mountains Healthcare Alliance (PMHA), a joint network of independent community hospitals serving Western and Central Pennsylvania, today announced the expansion of their partnership to deploy FinThrive’s integrated Revenue Management platform at four of the 13 hospitals in PMHA’s network.
The decision to move to a holistic Revenue Management platform puts PMHA at the forefront of a larger trend wherein health systems are increasing digital transformation initiatives focused on healthcare revenue management and patient engagement systems. This technology and process investment will allow PMHA to work with a single vendor on a set of strategic initiatives aimed at increasing revenue and reducing costs – a key priority to ensuring their community hospitals can achieve their missions.
PMHA’s decision to implement a comprehensive platform supports its desire to adopt automated workflows to complete key revenue management tasks from pre-service financial clearance through charging and billing, and ultimately payment – freeing up staff to provide quality care to its patients.
“Being able to offer the comprehensive revenue management solution to our community hospitals will be pivotal to ensuring the health systems we support remain independent with the ability to serve the people of rural Pennsylvania,” said Nicole Clawson, Vice President of Finance and Revenue Cycle for Pennsylvania Mountains Healthcare Alliance. “We look forward to continuing to work with our long-standing partner, FinThrive, to safeguard the financial future of our hospitals.”
An integrated revenue management platform offers an opportunity for health systems to implement multiple solutions without the need for additional labor resources – resulting in critical cost savings and resource efficiencies for community hospitals struggling with staffing issues.
“At FinThrive we like to establish meaningful and lasting relationships with our customers, as partners in their pursuit of positive outcomes,” said Hemant Goel, President and CEO of FinThrive. “We are proud to support the mission of PMHA and help them break the cycle of inefficiency in their revenue cycle. We applaud their progressive approach and look forward to providing a revenue management foundation that will simplify and empower their hospitals’ revenue efforts, allowing clinical staff to focus on providing quality care to the communities they serve.”
A recent HIMSS analytics survey pointed out that 69% of hospitals have multiple vendors in their revenue cycle – and the gaps between these systems can result in claims denials, delays, and general inefficiencies. PMHA’s shift from revenue cycle management to integrated revenue management represents a bold step to be more efficient and enhance stewardship of the community healthcare dollar. Innovative organizations that are rethinking revenue management to support their success will see increased financial yield, reduced third party costs, and improved staff satisfaction. To break the cycle of inefficiency, organizations like PMHA must rethink revenue management and look at a platform that delivers for their team and their patients.
About Pennsylvania Mountains Healthcare Alliance
Pennsylvania Mountains Healthcare Alliance (PMHA) is a collaborative network of independent community hospitals. Developed by healthcare innovators in Western and Central Pennsylvania, PMHA has evolved over 25 years into a closely knit group of hospitals committed to maintaining their independence by working together. PMHA hospitals have maximized revenue and minimized cost, becoming efficiently operating providers and contributors to their respective communities. The PMHA mission is to enhance the ability of its member hospitals to provide patient-centered community-based care and to maintain their status as independent community hospitals.
About FinThrive
FinThrive helps healthcare organizations increase revenue, reduce costs, expand cash collections, and ensure regulatory compliance across the entire revenue cycle continuum. Providing one of healthcare’s most comprehensive revenue cycle management SaaS platforms, FinThrive’s holistic approach to revenue management offers patient access, charge integrity, claims management, contract management, machine learning & robotic process automation, data & analytics, and education solutions. More than 3,200 healthcare providers are using FinThrive today. For more information, visit www.FinThrive.com.
Media Contact:
Audra Murphy
VP, Strategic Communications, FinThrive
(717) 476-4864
