CareMedic Systems

Case Study Summary

University of Maryland Medical System (UMMS)
Network of 11 hospitals
Total Beds: 2,300+
Annual admissions: 115,000
Operating Revenue: $2.5 billion

The situation:
With separate CBOs operating on different patient accounting systems, the organization struggled to aggregate revenue reporting and achieve best practices across its locations. The challenge was to standardize across the board for seven of its facilities without replacing accounting systems or consolidating the four related CBOs and staffs.

The solution:
CareMedic’s eFR allowed UMMS to create a “virtual CBO” by storing financial information from its disparate systems in one patient-centric database. It enabled development of system-wide best practices and provided robust dashboard reporting that in turn, enabled process improvements. The eFR’s automated workflow and denial management tools also helped UMMS increase cash collections while reducing A/R days and bad debt.

The result:
• Increased cash collections by $155 million from FY08 to FY09
• Exceeded FY09 targeted cash collection goal by $76 million
• Reduced A/R by 11 days
• Decreased bad debt by $710,000
• Achieved bad debt transfers of $12.7 million below FY09 target
• Increased revenue by over $82 million

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