WAKEFIELD, Mass. & ROCHESTER, Minn.--(BUSINESS WIRE)--Optum360 and Mayo Clinic announced today that they are partnering to develop new revenue management services capabilities aimed at improving patient experiences and satisfaction while reducing administrative costs for health care providers.
Optum360 and Mayo Clinic will collaborate on enhancing and redesigning specific elements of the revenue cycle to increase efficiency while creating a convenient, accurate, transparent and personal experience for patients. A key focus is improving the interaction between the provider and payer by opening channels of communication early in the care process. The partnership includes a next-generation patient cost estimator, streamlining prior authorization/pre-certification, enhanced claims editing functions and administrative simplification of billing activities associated with pre-care packaged pricing.
“Mayo Clinic and Optum360 have a shared vision of how a patient can best experience the revenue cycle as part of their care,” said Sandhya Pruthi, M.D., Mayo Clinic Medical Director for Patient Experience, Rochester. “Through our work together, we will also address the unique needs and regulatory requirements of the market and deliver a superior patient experience.”
“By simplifying and improving the path to quality care and patient interaction, we can improve the overall patient experience, increase timely and accurate payment for services and decrease administrative costs for providers,” said Ron Jones, CEO, Optum360. “Through our combined expertise, we will create a patient financial experience that is on par with Mayo Clinic’s exceptional patient care experience.”
In addition to this collaboration, Mayo Clinic will also be installing Optum360 technology and revenue management services to modernize and consolidate Revenue Cycle Management functions for the organization, which will create cost efficiencies. Optum360 computer-assisted coding, clinical documentation improvement and billing technologies will be implemented in a phased approach at Mayo Clinic facilities as part of their ongoing commitment to improve the service and experience for patients and providers when performing business transactions with Mayo Clinic.
About Mayo Clinic
Mayo Clinic is a nonprofit organization committed to medical research and education, and providing expert, whole-person care to everyone who needs healing. For more information, visit http://mayocl.in/1ohJTMS, or http://newsnetwork.mayoclinic.org/.
Optum360 is a leading revenue management services business dedicated to helping clients improve the patient experience by simplifying and streamlining the revenue cycle process. Optum and Dignity Health jointly launched Optum360 in 2013, combining Optum technology and analytics with Dignity Health’s infrastructure to simplify billing and increase cost transparency as patients take a growing role in their health care decisions. From patient registration and care delivery through billing and payment, the company’s 2,400 employees provide technology, services and consulting that benefit patients and drive financial performance for providers, hospitals and health systems. For more information, visit www.optum360.com.