Industry News

Large Healthcare Enterprises and Specialty Hospitals Tap Siemens for Next-Generation Revenue Cycle Management

A unified database and billing functions across the enterprise help organizations better position themselves to coordinate care and prepare for emerging payment models.

Malvern, Pa., April 26, 2012 – Today, Siemens Healthcare has announced that several large healthcare enterprises and specialty hospitals are turning to Siemens for next-generation enterprise revenue cycle management. With Soarian® enterprise revenue cycle management, Siemens addresses organizational revenue cycle needs by helping enterprises create a unified patient database and billing solution for physician practices and hospitals. Healthcare organizations can now turn to Soarian to reduce the reliance on third-party, bolt-on solutions, while preparing for a future that will include new payment models such as accountable care and bundled payments. Soarian, built on a modern, 3rd generation service-oriented architecture, helps enable healthcare organizations to be agile and flexible as they adapt to rapid change. Siemens approach to next-generation enterprise revenue cycle management supports the objectives of the Agenda 2013 program, which is a two-year global initiative in the Siemens Healthcare Sector to help customers adapt and grow amidst a challenging environment for healthcare reimbursement.

Soarian enterprise revenue cycle is based on a contemporary architecture that offers next-generation capabilities, including enterprise-wide patient identification and scheduling, and a single point-of-access for patient demographic and financial data. Soarian supports single-entity and multi-entity enterprises including affiliated physician practices. Embedded payor rules and an integrated contract engine connect the entire enterprise revenue cycle in order to increase first-pass clean claims. The comprehensive capabilities in Soarian revenue cycle can reduce the need for additional financial applications, which can reduce the complexity involved in maintaining multiple solutions and databases. Many organizations are turning to Siemens to simplify the revenue cycle and, today, Siemens announces that The University of Texas MD Anderson Cancer Center is the 100th organization to purchase Soarian Financials. MD Anderson Cancer Center recently signed a 10-year agreement for Soarian Scheduling, Patient Access and Revenue Cycle, Soarian Physician Revenue Cycle, and Soarian EDI/EDM.

The mission of The University of Texas MD Anderson Cancer Center is to eliminate cancer in Texas, the nation, and the world through outstanding programs that integrate patient care, research, and prevention. One benefit of leveraging Soarian across the enterprise is that MD Anderson Cancer Center will be able to use one unified solution for billing across the enterprise, which will enable them to generate a single bill for patients, without relying on a bolt-on third-party service to combine charges.

Siemens also recently signed a six-year extension with the North Shore-LIJ Health System, the country’s second-largest, nonprofit, secular healthcare system. The deal brings a unified, contemporary architecture to enterprise revenue cycle that extends across the entire health system. The deal also brings Soarian Physician Revenue Management and Scheduling to the Faculty Practice Plan, which consists of more than 2,200 physicians at 245 locations throughout the New York metropolitan area. As a result, patients will now only receive one bill for services at North Shore-LIJ provider facilities, not multiple bills.

In Atlanta, Shepherd Center, a 132-bed specialized rehabilitation hospital for spinal cord and brain injury, recently signed a 5-year extension to migrate to a full suite of Soarian Clinicals and Soarian Financials. The move is expected to eliminate redundancies in documentation, to reduce the number of disparate systems, and to promote a continuum of patient care enabled through a unified approach to HIT. The fully integrated solution will support process and workflow efficiencies that will also leverage a strong data analytics push to support research and quality measure reporting.

In Baton Rouge, La., Baton Rouge General Medical Center, a 544-bed health system, signed a 10-year contract extension to replace a disparate mix of outsourced HIT solutions with a complete suite of Soarian Enterprise Revenue Cycle Solutions. Baton Rouge General Medical Center chose to have the solutions hosted out of Siemens medical-grade Healthcare Computing Center (HCC). Siemens has more than 40 years of history hosting HIT solutions from a private, medical-grade cloud environment and Baton Rouge General Medical Center will be able to deploy their revenue cycle tools at a lower total cost of ownership compared with on-site hardware options.

New Webcast Series: “A Next Generation Revenue Cycle Solution...Today”
Siemens recently launched a five-episode Webcast series that discusses Soarian's unique capabilities as a next-generation revenue cycle solution. The series describes some of the key differentiators that should be considered as healthcare organizations position themselves for the future. The series will convey Soarian Financials' transformative capabilities and its continued momentum in the market. Individuals may register for new Webcasts and watch replays through Siemens Revenue Cycle Gateway, http://usa.siemens.com/rcgateway.

For more information about Soarian, visit http://usa.siemens.com/soarian.

Launched recently, Siemens Agenda 2013 program is a two-year global initiative to further strengthen the Healthcare Sector's innovative power and competitiveness. Specific measures will be implemented in four fields of action: Innovation, Competitiveness, Regional Footprint, and People Development.

The Siemens Healthcare Sector is one of the world's largest suppliers to the healthcare industry and a trendsetter in medical imaging, laboratory diagnostics, medical information technology and hearing aids. Siemens offers its customers products and solutions for the entire range of patient care from a single source – from prevention and early detection to diagnosis, and on to treatment and aftercare. By optimizing clinical workflows for the most common diseases, Siemens also makes healthcare faster, better and more cost-effective. Siemens Healthcare employs some 51,000 employees worldwide and operates around the world. In fiscal year 2011 (to September 30), the Sector posted revenue of 12.5 billion euros and profit of around 1.3 billion euros. For further information, visit www.siemens.com/healthcare.




Great Valley Publishing Co., Inc.
3801 Schuylkill Road
Spring City, PA 19475
Copyright © 2013
Publisher of For The Record
All rights reserved.
Contact
About Us
Writers' Guidelines
Privacy Policy
Terms and Conditions