KANSAS CITY, Mo., Oct. 6, 2010 (GLOBE NEWSWIRE) -- Hospitals currently spend approximately $30 billion in the U.S. on collections. To significantly reduce that burden, Cerner Corporation (Nasdaq:CERN) is expanding its revenue cycle offerings to create one of the most integrated systems in the industry. Combining clinical and financial data increases reimbursements, ensures compliance and eliminates the majority of administrative waste and delays. Cerner's revenue cycle offering drives operational performance improvements and automates care management and patient accounting. Adventist Health System (AHS), Shriners Hospitals for Children ® (SHC) and Bayfront Medical Center are the first strategic partners to utilize Cerner® revenue cycle solutions and services to make the shift to a clinically driven revenue cycleSM process.
- AHS is collaborating with Cerner to enhance its existing revenue cycle solutions and to develop several new supporting solutions over the next three years. Florida Hospital Waterman, in Tavares, Fla. and Shawnee Mission Medical Center, in Shawnee Mission, Kan., participated in an assessment to evaluate current state and will serve as living laboratories for testing new revenue cycle solutions prior to deployment across the 25 participating AHS hospitals. The first suite of solutions is expected to be deployed in mid- 2011. AHS believes that by partnering in this development effort they will obtain functionality critical for the revenue cycle integrated with the clinical system.
- With a history of providing care to children regardless of the patients' ability to pay, SHC selected Cerner because of its ability to customize revenue cycle solutions to meet SHC's unique needs for eligibility and claims management. In 2009, SHC made the shift towards billing for third party pay to assist in the funding of the endowment which pays for children's care. This new patient billing system utilizes Cerner® solutions to maximize reimbursement from services provided to the insured, while maintaining a focus on providing quality care to meet the child's medical needs regardless of the family's income or insurance status.
- Bayfront Medical Center, a long time user of Cerner clinical and financial solutions, has strategically aligned with Cerner to manage its revenue cycle operations. With the full suite of Cerner revenue cycle solutions already in place, Bayfront will now utilize Cerner's services to manage their access management, medical records and billing departments. Updating Bayfront's revenue cycle processes to be more clinically driven will increase the capability of supporting clinical reporting required in the pay-for-quality elements of healthcare reform as well as the new payment models that will be required to support the formation of accountable care organizations (ACOs).
The Cerner revenue cycle solutions and services automate revenue cycle management from end-to-end, including processes for scheduling, registration, clinical care, health information management, billing and collections. The Cerner Millennium®architecture provides the detailed clinical information needed to accurately prepare claims, proactively guard against denials and defend the right to bill. Benefits of the Cerner revenue cycle model include:
- Increased reimbursement with accurate, defensible and timely claims
- Ensured compliance with regulatory guidelines
- Elimination of waste and delay associated with preparing and submitting claims
- Improved accuracy and completeness of coding and documentation
- Captured revenue as a result of clinical automation
- Eased transition from ICD-9 to ICD-10 coding
Cerner is transforming healthcare by eliminating error, variance and waste for healthcare providers and consumers around the world. Cerner® solutions optimize processes for healthcare organizations ranging in size from single-doctor practices, to health systems, to entire countries, for the pharmaceutical and medical device industries, employer health and wellness services industry and for the healthcare commerce system. These solutions are licensed by more than 8,500 facilities around the world, including approximately 2,300 hospitals; 3,400 physician practices covering more than 30,000 physicians; 600 ambulatory facilities, such as laboratories, ambulatory centers, cardiac facilities, radiology clinics and surgery centers; 700 home-health facilities; and 1,500 retail pharmacies. The trademarks, service marks and logos (collectively, the "Marks") set forth herein are registered and unregistered trademarks and/or service marks owned by Cerner Corporation and/or its subsidiaries in the United States and certain other countries throughout the world. Nasdaq: CERN. For more information about Cerner, please visit , , , and .
This release contains forward-looking statements that involve a number of risks and uncertainties. It is important to note that the Company's performance, and actual results, financial condition or business could differ materially from those expressed in such forward-looking statements. The words "will", "expected" or the negative of these words, variations thereof or similar expressions are intended to identify such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the possibility of product-related liabilities; potential claims for system errors and warranties; the possibility of interruption at our data centers or client support facilities; our proprietary technology may be subject to claims for infringement or misappropriation of intellectual property rights of others, or may be infringed or misappropriated by others; risks associated with our recruitment and retention of key personnel; risks related to our reliance on third party suppliers; changing political, economic and regulatory influences; government regulation; significant competition and market changes; Additional discussion of these and other factors affecting the Company's business is contained in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial condition or business over time.
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