Conifer Health Solutions today announced a 10-year agreement with Catholic Health Initiatives (CHI) to provide revenue cycle services for 56 of CHI’s hospitals across the nation. Conifer will provide Patient Access, Revenue Integrity, and Patient Financial Services to the CHI hospitals. These CHI hospitals generate more than $6 billion in annual patient revenue. Conifer, a subsidiary of Tenet Healthcare Corporation (NYSE:THC), has more than 30 years of experience providing hospitals with business process management solutions, which allow hospitals to focus on patient care and quality while Conifer focuses on improving and sustaining their financial performance.
Through this agreement, CHI will enhance its patient services and revenue cycle operations, helping it to focus even more intently on fulfilling its mission to create healthier communities. CHI expects to stabilize its revenue cycle costs in the face of health reform, changes in commercial payer reimbursement rates, expanding Medicaid eligibility, and increasing investments in information technology. In response to rising healthcare costs, providers are increasingly seeking to identify means to enhance cost efficiency and capture incremental revenue. CHI’s strategy of partnering with Conifer is an important validation of the value healthcare providers place on mission critical revenue cycle activities.
Conifer’s integration process will include the transition of CHI’s revenue cycle employees to Conifer. These employees will remain in their current locations, and job reductions are not anticipated to exceed normal attrition. These revenue cycle employees will be trained and equipped with Conifer’s industry-leading processes and technology. The integration process is expected to be completed within 24 months. As part of this agreement, CHI will receive a minority ownership position in Conifer. No financial terms were disclosed.
“We have chosen to partner with Conifer and Tenet Healthcare for our revenue cycle services because of their outstanding track record with leading technology, tools and training,” said Dean Swindle, executive vice president, business services and chief financial officer of CHI. “As a part of our relationship with Conifer, we will develop products and services to further improve patient experiences and reduce costs, helping CHI enhance its mission of building healthier communities.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV