Torrance Memorial Medical Center Expands Partnership with Cymetrix to Provide Extended Business Office Services
IRVINE and TORRANCE, Calif., July 6 /PRNewswire/ -- Cymetrix, a leader in providing hospitals and healthcare networks with revenue cycle management solutions, today announced an expanded partnership with Torrance Memorial Medical Center to provide self-pay accounts receivable management services. Cymetrix's outstanding performance, and its ability to help the medical center increase its payments from managed care organizations during an earlier contract, contributed to Torrance Memorial's decision to expand its partnership.
For many hospitals across the country a surge in patient revenue growth often leads to a struggle to collect payments and resolve accounts in a cost-effective manner. Cymetrix's solution improves efficiency by combining its professional expertise with predictive payment modeling, automated workflows, and effective performance monitoring tools, to quickly improve financial performance for its clients. Cymetrix has worked with Torrance Memorial since 2008.
"Cymetrix has the expertise and technology to blend seamlessly with our team to manage our patient liability collections while being completely transparent to our patients," said Helen Hanna, Director of Patient Accounts at Torrance Memorial. "Their ability to manage accounts efficiently while enhancing patient satisfaction was instrumental in our decision to expand our partnership."
"Our solutions are designed to help healthcare providers achieve better revenue cycle performance, lower costs, and leverage technology through the efficiencies of our Business Processing Offices," said Michael Halberda, President and CEO of Cymetrix. "We're excited about the opportunity to offer Torrance Memorial Medical Center solutions that are easy to implement and can quickly improve cash flow so they can continue their mission of providing high-quality healthcare to the communities it serves."
About Torrance Memorial Medical Center
Torrance Memorial Medical Center is a 401-bed, nonprofit medical center serving the South Bay, Peninsula communities. For further information about the medical center's programs and services visit www.TorranceMemorial.org.
Celebrating 10 years in the industry, 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 New York. Cymetrix's equity partner is Riordan, Lewis & Haden, a private equity investment company based in Los Angeles.