WATERTOWN, Mass. and NEWPORT NEWS, Va., Oct. 16, 2013 (GLOBE NEWSWIRE) -- athenahealth, Inc. (Nasdaq:ATHN), a leading provider of cloud-based services for electronic health record (EHR), practice management, and care coordination, today announced that Riverside Medical Group (RMG), a division of Riverside Health System, will use athenahealth's premiere tool for billing and practice management, athenaCollector®.
Riverside, a longtime innovator in health care delivery and an early adopter of electronic health records, will leverage athenaCollector to get its medical billing claims paid faster and easier. As one of the most diverse multi-specialty group practices in Virginia, RMG required a financial tool that would streamline its collections and seamlessly integrate with its existing IT infrastructure for over 300 physicians who practice at 117 locations.
"We're constantly looking for what's next in meaningful technologies and better workflow processes," said Bill Austin, Chief Financial Officer of Riverside Health System. "Partnering with athenahealth is a strategic investment that will enable us to process and collect on claims in the most efficient way. The value of a cloud-based system goes beyond implementation ease; with athenaCollector, we'll benefit from network knowledge, knowing that learning and insight gleaned from other practices that use athenaCollector will come our way and inform our workflow."
Today, athenaCollector is used to process more than $11 billion in client collections per year. On average, practices using athenaCollector see a 29 percent reduction in their days in accounts receivable and an 8 percent increase in collections*. athenaCollector will streamline billing across RMG's diverse care settings and teams, allowing its leadership to efficiently assess, plan, and improve practice performance while increasing revenue potential.
Said athenahealth Chairman and CEO, Jonathan Bush, "We're delighted that an organization with a similarly pioneering spirit has chosen athenahealth to take on its billing and claims processing workflow. RMG has always been on the forefront of medical care, and our cloud-based services will ensure that its focus stays where it should, on patient care."
*Based on a weighted average for athenahealth clients with valid pre-athenahealth benchmark data that had their 15-month anniversary with athenahealth through 9/30/2012.
About athenahealth, Inc.
athenahealth is a leading provider of cloud-based services for electronic health record (EHR), practice management, and care coordination. athenahealth's mission is to be caregivers' most trusted service, helping them do well doing the right thing. For more information, please visit www.athenahealth.com.
About Riverside Health System
Riverside Health System is a non-profit integrated network of physician practices, hospitals, innovative older adult programs, wellness centers, and more, providing comprehensive, high quality health care services to citizens of eastern Virginia. Riverside has been a leading provider of health care in the region for nearly a century and is one of the area's top employers with over 8,000 team members.
CONTACT: Holly Spring
athenahealth, Inc. (Media)
hspring@athenahealth.com
617-402-1631
Dana Quattrochi
athenahealth, Inc. (Investors)
investorrelations@athenahealth.com
617-402-1329
Peter Glagola
Riverside Health System (Director of Public Relations)
Peter.glagola@rivhs.com
