CoxHealth Expands Partnership with Cymetrix to Further Improve Financial Performance
IRVINE, Calif., May 6 Cymetrix®, a leader in providing hospitals and healthcare networks with revenue cycle management solutions, today announced an expanded partnership with CoxHealth to provide system conversion assistance. Cymetrix's excellent results record during its long-term relationship with the Missouri-based health system was instrumental in it being selected.
The billing and collection cycle for hospitals and healthcare organizations is often costly, fragmented and labor-intensive, a system conversion often increases these issues. Working with CoxHealth, Cymetrix will provide solutions to preserve the continuity of the health system's cash flow, manage accounts receivable during the health system's conversion from Siemens Invision® and implementation of the new patient accounting system to Siemens Soarian®.
Cymetrix has extensive experience with many different systems including Epic, MEDITECH, McKesson, IDX and Siemens. After the conversion, Cymetrix will continue to manage small balance insurance accounts on the new Siemens Soarian® system.
Cymetrix has worked with CoxHealth since 2006. Cymetrix has provided CoxHealth with entitlement program services and patient financial services for third-party reimbursement. In addition to the system conversion, Cymetrix will also expand its entitlement program services to include both outpatient and inpatient.
"Cymetrix's extensive experience with the complexity of system conversions and its ability to manage high volumes of new inventory was instrumental in our selection of the company to help us accelerate cash flow, positioning us to better serve our patients," said Dana Christiansen, Director of Patient Financial Services at CoxHealth.
"We are very pleased in the confidence that CoxHealth places on our team's ability to help them solve revenue cycle challenges. In today's economy, providers like CoxHealth are looking for solutions that are quick to implement and quick to improve cash flow," said Michael Halberda, Cymetrix President and CEO. "Over the years we have provided the health system with solutions designed to help it identify ways to improve financial performance and continue its mission of providing high-quality healthcare to the communities it serves. We're excited about the importance of our expanded partnership, and look forward to delivering exceptional results to CoxHealth."
CoxHealth is accredited by The Joint Commission and distinguished as one of the nation's Top 100 Integrated Healthcare Systems (2006-2010). Established in 1906 and based in Springfield, Mo., CoxHealth serves more than 900,000 people in a 25-county service area of southwest Missouri and northwest Arkansas. Its services include four hospitals and more than 50 physician clinics in 20 communities, Oxford HealthCare (a home health agency), Home Parenteral Services (home infusion therapy), CoxHealth Foundation, Cox College, Cox Family Medicine Residency and much more.
Cymetrix (www.cymetrix.com) creates comprehensive revenue cycle solutions for hospitals and healthcare networks. Using its proven Adaptive Revenue Cycle Model, Cymetrix identifies opportunities for new efficiencies that deliver results in performance and profitability. A privately held Delaware Corporation, Cymetrix has corporate headquarters in Irvine, Calif., and business process outsourcing centers in Los Angeles, Dallas, Nashville and soon New York. Cymetrix's equity partner is Riordan, Lewis & Haden, a private equity investment company based in Los Angeles.
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