BRECKSVILLE, Ohio--(BUSINESS WIRE)--Apr. 10, 2018--
MedData, Inc., a MEDNAX (NYSE: MD) company and a leading provider of
patient-facing financial services for hospitals and health systems,
today announced the debut of its comprehensive patient financial
platform, MedData OneTouch.
As healthcare shifts from fee-for-service methods and toward a
value-based care model, traditional approaches to revenue cycle
management are filled with complex and costly challenges, including time
and resource inefficiencies, compliance risk, and patient frustration.
“Hospital and health system CFOs nationwide are under tremendous
pressure to cut costs, and they are looking for ways to streamline their
revenue cycle,” said MedData president and CEO, Ann Barnes. “This new
approach is the only one of its kind in the marketplace today – and it’s
already proven to be an effective way to reduce costs.”
MedData conducted a 2017 annual performance study with existing clients
across a broad range of provider types and found that connecting
traditionally siloed services can drastically reduce the inefficient and
costly aspects of traditional revenue cycle management. All
patient-facing financial programs – including Eligibility, Patient
Responsibility, Workers’ Compensation, Denials, Disability, and Third
Party Liability – were linked together to identify all payer sources in
the properly compliant order.
The unified solution, MedData OneTouch, created a single touchpoint
where every patient, whether insured, under-insured, or uninsured, was
able to receive the most appropriate coverage for their situation.
Hospitals and health systems were able to simultaneously increase
overall cost savings and patient satisfaction in addition to capturing
incremental revenue purely through combining best-in-class patient
financial services into a single process.
What makes MedData OneTouch so unique, says Barnes, is how it delivers
one solution for the patient’s entire healthcare financial life cycle.
"Our innovative platform ensures that the patient financial experience
is just as great as their clinical one. Because MedData serves as a
single touchpoint, patients don’t have to provide the same information
over and over again,” Barnes said. “And hospitals don’t have to worry
about missing revenue opportunities or the significant compliance risk
associated with juggling multiple vendors. Every interaction is
seamless, positive, and productive.”
Additional results from the 2017 performance study are included in the
white paper "Innovative Revenue Cycle Management Is the Sharpest Blade
for Cutting Costs,” available on the MedData website.
MedData, a MEDNAX (NYSE: MD) company, is a leading provider of
technology-enabled management services for hospitals and health
systems that serve the entire patient financial lifecycle from pre-visit
through post-discharge while improving the patient experience and
helping them engage better with their providers. For four decades, the
company has been providing innovative solutions to the medical community
and serving hundreds of millions of patients across numerous medical
specialties. MedData currently serves more than 10,000 physicians at a
growing network of 3,000+ facilities nationwide from its headquarters in
Brecksville, Ohio, and more than 20 regional offices across the U.S. To
learn more about MedData’s patient-focused solutions platform, please
visit the MedData
View source version on businesswire.com: https://www.businesswire.com/news/home/20180410006016/en/
Source: MedData, Inc.
Tom Robinette, 513-858-5417