Conifer Health Solutions, a subsidiary of Tenet Healthcare Corp. (THC - Analyst Report), has added yet another deal to enhance its revenue cycle management solutions business. Conifer Health Solutions has recently inked a deal with University Health System – the clinical partner of LSU Health Shreveport School of Medicine.
Per the deal, Tenet’s Conifer Health will provide revenue cycle management services ranging from patient access to account resolution to University Health. The patient centric services will include medical eligibility and financial counseling, denials prevention and management and accounts receivable management aimed at improving patient experience, cutting costs and enhancing yield.
Through this deal, Conifer Health of Tenet will be responsible for speeding up the transition of United Health from a quantitative to a qualitative healthcare system. With the rapidly aging population and rising healthcare costs in developed nations, healthcare policy discussions in the industry are now taking into consideration a shift from the conventional fee-for-service (quantity based) care to fee-for-value (quality oriented) care.
At this juncture, Conifer Health’s cost-effective revenue cycle management is expected to help University Health conform to the above healthcare industry requirements. This should also improve yield and drive client productivity, helping Conifer Health to retain customer confidence.
Companies using revenue cycle management utilizes technology to manage claims process efficiently so as to generate a steady stream of revenue. Tenet’s Conifer Health is a veteran in this area and has been consistently helping healthcare service providers like hospitals, health systems, physicians and government health plans to utilize revenue management to better connect with patients.
Toward enhancing its revenue management solutions, Conifer Health collaborated with analytics service provider, VisiQuate, Inc. in Nov 2013. Now, the contract with University Health significantly enhances Tenet’s client base, unlocking new opportunities.
Tenet currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare services space include Almost Family Inc. (AFAM - Snapshot Report), Chemed Corp. (CHE - Snapshot Report) and LCA-Vision Inc. . All three stocks carry a Zacks Rank #1 (Strong Buy).