RelayHealth Expands Revenue Cycle Portfolio

RelayHealth leads the way, delivers new solutions to help providers face a changing economic climate

RelayHealth, a leading provider of healthcare connectivity services, today announced the introduction of RelayFinancial™ Assurance Pro, a new financial solution to help hospitals and health systems of all sizes optimize cash flow and improve financial performance. This new solution rounds out RelayHealth’s broad portfolio of powerful financial management products and services, and allows RelayHealth to offer solutions tailored to meet the unique needs of every provider – from large multi-hospital health systems with sophisticated, diverse needs to stand-alone independent facilities with more specific, fundamental needs.

RelayHealth will demonstrate RelayFinancial Assurance Pro at the HFMA (Healthcare Financial Management Association) 2010 ANI Booth #437 in Las Vegas from June 20-23.

"Hospitals of all sizes are facing increased bad debt due to the poor economy, rising medical expenses, and increasing patient self-pay balances," said Jim Bodenbender, President, RelayHealth Connectivity Solutions. "RelayFinancial Assurance Pro expands our solution suites and allows us to tailor products and services to the specific needs of the individual provider. We heard from healthcare leaders that they want financial and transactional options tailored to their revenue cycle needs. We’re pleased to expand our portfolio to meet this demand. RelayHealth is committed to meeting each provider’s specific revenue-cycle needs for optimal performance."

RelayFinancial Assurance Pro is an easy-to-use claims and remittance management solution. Providers use it to help speed insurance claims and remittance processing by automating key tasks. RelayFinancial Assurance Pro incorporates an intuitive interface, customizable workflow features, robust editing functions, and helps hospitals accelerate cash flow, improve staff productivity, optimize revenue, and enhance financial performance. Providers can further tailor the solution to fit their needs by choosing optional modules such as Medicare Direct Entry, which can reduce days in accounts receivable (A/R) by one day or more, and Hard Copy Direct, which helps focus the billing staff on working high-priority claims. Additionally, the claims data comes from RelayHealth’s provider-to-payor electronic data interchange platform which facilitates connections to more than 1,800 health insurers.

"RelayHealth is a leader in healthcare revenue cycle management solutions," said John H. Wilson, Director, Patient Accounts, Vail Valley Medical Center. "The company continues to evolve their offerings to meet the constantly changing demands of our healthcare system. Our organization has seen significant positive impact to our bottom line, including reducing our bad debt percentage from more than 12% to just under 4% and increasing our point-of-service collections "

RelayFinancial Assurance Pro is offered via a Software-as-a-Service (SaaS) connectivity platform, eliminating costly infrastructure and resource investments and minimizing ongoing maintenance costs.

With more than 25 years' experience in the healthcare claims processing industry, RelayHealth represents the largest single source of transaction and connectivity services to healthcare providers and health plans.

About RelayHealth
RelayHealth, McKesson’s connectivity business, operates as a neutral partner in an open network environment, offering connectivity services and integration among all organizations, systems, and solutions. Its intelligent network is designed to streamline clinical, financial and administrative communication between patients, providers, payers, pharmacies, pharmaceutical manufacturers, and financial institutions. RelayHealth works to accelerate the delivery of high-quality care and improve financial performance through solutions such as online consultation of physicians, electronic prescribing, point-of-service pharmacy claims resolution by payers. RelayHealth securely processes more than 12.8 billion financial and clinical transactions annually. For more information, call 888.743.8735, or visit our Web site at www.RelayHealth.com. Follow us on Twitter (@RelayHealth) or visit the RelayHealth Facebook page.

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