To meet the growing demand for greater transparency, simplicity, and
value in health care billing, Dignity Health and Optum have formed
Optum360, a major new venture that combines the companies’
industry-leading revenue cycle management capabilities. Optum360 is
dedicated to transforming the registration, documentation, billing, and
payment system so it works better for hospitals, health systems and
other care providers, and delivers a better patient experience.
With a workforce of more than 3,000 employees from Dignity Health and
Optum, Optum360’s revenue cycle management services can meet the
large-scale needs of major hospitals and health systems, and enable new
care delivery and risk-sharing models, such as Accountable Care
Organizations. The venture joins Dignity Health’s proven revenue cycle
operations expertise and scale with Optum’s market-leading technology,
expertise in ICD-10 readiness, and a client base of thousands of
hospitals and physician groups. Optum serves more than 300 commercial
and public health plans, and its deep payer operations expertise will be
applied to making administrative processes between payers and providers
more direct, faster, and simpler.
Optum360’s patient-centric approach to revenue cycle management has the
potential to fundamentally transform both administrative processes and
revenue yield and accuracy – from patient registration to financial
resolution of payments – in ways no other solution can. It is designed
to reduce costs and make medical costs more transparent while helping
hospitals, health systems, clinics, and physicians modernize
administrative processes and ensure appropriate revenue yield.
Importantly, the Optum360 solution provides a complete view of the care
experience from the patient’s perspective, helping providers deliver a
simpler, more satisfying experience to their patients.
“The health care billing process is too often a source of stress during
a time when healing should be the primary focus, and together through
Optum360 we are committed to being part of the solution,” said Lloyd
Dean, president and chief executive officer of Dignity Health. “Our goal
is nothing less than to modernize the revenue cycle so that it is
intuitive and easy to manage, and allows patients and providers alike to
focus their attention on healing.”
Approximately 1,700 employees from Dignity Health and 1,300 employees
from Optum make up the initial workforce of Optum360, which will be the
exclusive revenue cycle services provider to Dignity Health’s hospitals,
clinics, and physicians. Optum360 is also working with additional major
health care provider partners nationwide and plans to announce these
relationships in the months ahead.
“Optum360 is singularly focused on helping care providers nationwide
transform the registration, billing and payment system so it works
better for them and their patients,” said Larry Renfro, chief executive
officer of Optum. “The unique combination of Optum’s leading technology
and Dignity Health’s proven expertise in revenue cycle management will
allow us to partner with hospitals, health systems, clinics and
physicians across the health care system to significantly improve
performance and the patient experience.”
Bringing Simplicity to Patients and Providers
Optum360 is focused on improving the patient experience through a unique
combination of technology and superior customer service. For example,
patients can expect a more streamlined admission process and access to
secure online and mobile applications for benefits information, health
management tools and financial statements. Optum360 service
representatives will educate patients about their insurance benefits,
provide financial counseling, and help them understand what they can
expect from the payment process.
“Dignity Health has always been committed to simplifying the billing
process and helping our patients understand their health benefits,” said
Michael Blaszyk, senior executive vice president and chief financial
officer for Dignity Health. “With Optum360, we are taking these efforts
to the next level by implementing Optum’s proven technology. We are
excited to bring these resources to the patients we serve as well as to
the broader health care marketplace.”
Optum360 can help ensure providers receive accurate, timely
reimbursements for the patient services they have rendered. The suite of
technology and services available to providers includes clinically
integrated electronic financial records, ICD-10 resources,
computer-assisted coding applications, utilization management
capabilities, clinical documentation improvement solutions, and claims
management tools. Optum360 is well positioned to help providers adapt to
the requirements of ICD-10, and will fully support new forms of payment
methods such as bundled payments and Accountable Care Organizations.
Transparency and Improved Relationships with Payers
To support the relationship between care providers and health care
payers, Optum360 is focused on streamlining approvals and claims
adjudications, and on breaking down barriers to information for patients
and payers. Payers can more quickly and clearly understand their
members’ treatment plans, including intervention outcomes and associated
medical costs. Ultimately, greater communication and understanding can
help ensure that medical services are cleared for payment in a more
efficient time frame.
About Optum
Optum (www.optum.com)
is a leading information and technology-enabled health services business
dedicated to helping make the health system work better for everyone.
Optum is comprised of more than 40,000 people worldwide who collaborate
to deliver integrated, intelligent solutions that work to modernize the
health system and improve overall population health.
About Dignity Health
Dignity Health, one of the nation’s five largest health care systems, is
a 21-state network of nearly 10,000 physicians and 56,000 employees who
provide patient-centered care at more than 300 care centers, including
hospitals, urgent and occupational care, imaging centers, home health,
and primary care clinics. Headquartered in San Francisco, Dignity Health
is dedicated to providing compassionate, high-quality and affordable
patient-centered care with special attention to the poor and
underserved. In 2012, Dignity Health provided $1.6 billion in charitable
care and services. For more information, please visit our website at www.dignityhealth.org.
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Copyright Business Wire 2013