Study: Hospitals will Find $300 million in Revenues in 2007

Today’s technological advances and medical breakthroughs have the potential to dramatically and positively impact patients’ lives. Ironically, it’s the healthcare providers themselves that might benefit the most by what some technology solutions can do for the health of their bottom line.

According to a research study by PayStream Advisors, U.S hospitals are expected to find an additional $300 million in net patient revenues in 2007, as more than 1,000 additional healthcare providers adopt new contract management and payment review solutions for revenue cycle management. An estimated 12-15% of all commercial claims for healthcare organizations are paid incorrectly due to misinterpretation of negotiated contract terms, inappropriate loading of contractual rates or claims being denied, according to nationwide studies.

“This $300 million is basically ‘found money’ – revenue that healthcare providers can recover simply by implementing technology tools that will automate their processes and/or by outsourcing contract management and revenue recovery functions,” said Ryan M. Hampton, Director of Operations and Healthcare Services for PayStream Advisors.

A new report, Leaving Money on the Table: A Buyer’s Guide to Contract Management and Payment Review Solutions, by PayStream Advisors, Inc. (www.paystreamhealthcare.com/?ref=pr), offers valuable information to healthcare providers looking to maximize payer contracts, recover lost revenue, and protect future revenue. The free 60-page buyer’s guide and vendor analysis report, targeted at both large and small healthcare facilities, networks, and medical group practices, analyzes contract management and payment review solutions and functions to help key healthcare stakeholders make vendor and technology decisions that best benefit their financial needs.

The report speaks directly to CFO’s, PFS Directors, Contracting Directors, and technology buyers in healthcare provider organizations.