Sacred Heart Health System (Sacred Heart) has made plans to continue working with MedAssets for the foreseeable future. Together, the two organizations have been able to create better long-term and short-term improvements to the healthcare organization, while increasing revenues.
Sacred Heart is a Pensacola-based health care network that was formed almost one hundred years ago and is owned by Ascension Health, one of the largest non-profit health networks in the United States. The facility, located in Pensacola’s Cordova business district, currently serves thousands of patients a day in its 458-bed facility.
However, Sacred Heart was not achieving its financial goals and struggled with ways of improving its revenue. The healthcare organization decided to partner up with MedAssets, which helps to improve quality care and safety, while achieving cost savings and increasing operational revenue.
“By deploying additional solutions, we expect to strengthen our day-to-day business operations and improve our revenue capture,” said Hugh DePaulis, vice president of finance, Sacred Heart Health System, in a statement. “The current healthcare environment is driving decreased reimbursements and shrinking margins, so it is crucial to re-evaluate existing revenue cycle processes and apply best practices to generate sustainable improvements in the bottom line.”
DePaulis said in order to do this, the facility will be expanding its relationship with MedAssets end-to-end Revenue Cycle Management solutions to “increase point of service cash collections” while improving net revenue.
“MedAssets expertise in revenue cycle operations and proven ability to deliver measureable and sustainable financial results makes them the right choice in our effort to increase profitability and drive better overall operational performance,” said DePaulis.
MedAsset said it plans on building on a lot of the initiatives that Sacred Heart already has in place and are proud to be working with the institution. Greg Strobel, president of Revenue Cycle Management, MedAssets said “We are honored that this valued client has placed its confidence in MedAssets to bolster its performance while preparing for the expected and unprecedented financial challenges ahead for all U.S. healthcare providers.”
Edited by Amanda Ciccatelli