PRLog - Feb. 11, 2014 - PHOENIX -- Healthcare Excellence Institute (HEI), a Lean and Six Sigma provider of engineering based hospital revenue cycle solutions, announced today an agreement with Lawrence + Memorial Hospital in New London, CT.
Under this agreement, HEI will provide the health system with CollectLogix and ScoreLogix, HEI’s web-based Lean account prioritization and performance benchmarking systems to bolt-on directly to their hospitals’ HIS systems.
Paul Chausse, System Director of Revenue Cycle for Lawrence + Memorial remarked, “We have a strong Lean culture here at Lawrence + Memorial, so we’re looking forward to working with HEI and using CollectLogix to support our internal Lean revenue cycle processes and benchmark our performance with other high performing organizations.”
CollectLogix consolidates accounts from separate systems and uses an 11-factor statistical algorithm to mathematically prioritize accounts and automatically distribute them to business office associates to increase cash collections, improve productivity, and reduce bad debt. ScoreLogix provides revenue cycle analytics to determine sources of unrealized net revenue. Together, ScoreLogix and CollectLogix support Lean processes by facilitating root cause and corrective action to track sources of originating errors and report on real time inventory penetration to maximize cash conversion.
“In healthcare today, organizations are looking to support their internal process improvement programs with technology that incorporates Lean, Six Sigma, and Toyota principles for superior work management and improved financial performance. We too are excited to work with Lawrence and Memorial to help further strengthen the Lean culture within their revenue cycle operations,” said Marj Green, President of Healthcare Excellence Institute.
About Lawrence + Memorial
Lawrence + Memorial is comprised of two hospitals. Lawrence + Memorial Hospital is a not-for-profit, general, acute care, private hospital that has been serving the New London and surrounding areas in Connecticut since 1912. The hospital is licensed for 280 beds and provides care to medical, surgical, pediatric, rehab, psychiatric and obstetrical patients. L+M Westerly Hospital is a 125-bed hospital that provides Washington (RI) and New London (CT) County residents with a wide array of family-centered medical services that are leading edge, yet respectful, and compassionate.
About the Healthcare Excellence Institute
Healthcare Excellence Institute (HEI) delivers engineering based revenue cycle solutions that significantly and sustainably improve financial performance in healthcare operations and organizations nationwide. HEI implements Lean, Six Sigma and Toyota Production System based process engineering solutions and scalable, web-based supporting technologies to dramatically improve the financial outcomes of healthcare service providers.
HEI’s differentiated approach and extensive background in manufacturing, engineering and statistics generates additional cash using existing resources to provide a funding mechanism for operations and future growth. For further information, please visit the Healthcare Excellence Institute at http://www.healthcare-consulting.org.
Read Full Story - Lawrence + Memorial Hospital Selects CollectLogix for Lean Revenue Cycle Prioritization & Analytics | More news from this source
Press release distribution by PRLog
Lawrence + Memorial Hospital Selects CollectLogix for Lean Revenue Cycle Prioritization & Analytics
February 11, 2014 at 08:37 AM EST
