The current healthcare environment is creating one of the most active hospital and health system consolidations in history. Independent hospitals, in particular, have been caught up in the trend of consolidation. It is partially driven by hospital and provider responses to the challenges and opportunities created by national and state healthcare reform.
One of the major challenges in this environment is the consolidation of systems and healthcare data migration. Data migration is not as simple as transferring information between systems. Migrating data to a new electronic health record system requires expertise in the legacy EHR, as well as the new one. The migration process needs to be well planned in terms of infrastructure, security, data access, resources, training, testing, etc. A temporary drop in revenue can be expected, although having proper planning and timelines will help to recover quickly.
Vee Healthtek has assisted and worked with numerous hospitals and health institutions to mitigate the impact of system migration and the implementation process. One in particular is a large academic hospital, world-renowned for its outstanding care and groundbreaking research. With one academic and two community hospitals, it has more than 2,000 inpatient beds and was named as one of the "Best Regionally Ranked Hospitals" by U.S News & World Report.
The client was in the midst of migrating from their three legacy HIS and billing systems while also undergoing a mammoth implementation of EPIC. In order to train their staff on EPIC, they needed a partner to manage the day to day processing and also work down outstanding AR, both of which resided in their legacy systems.
Vee Healthtek was selected as a preferred vendor to manage the legacy AR project and day to day billing operations. The client expected a temporary drop in revenue due to system migration and the learning curve it posed for the staff. They had to put in place a partner to help absorb the workload and to assist in the migration process. Cost savings and staffing efficiency were the critical factors that lead to the selection of Vee Healthtek.
Vee Healthtek was selected as vendor of choice to manage migration and implementation for the following services:
Working together, Vee Healthtek and client auditors developed a robust audit process
The client had $80+ million hospital and professional AR outstanding in legacy systems that required special attention and quick clean-up. Vee Healthtek put together the following solution to address legacy AR:
Resolved over $20 million AR in prof and $60 million in hospital legacy systems
The client recognized Vee Healthtek’s extraordinary outcomes by awarding a long-term contract for its entire RCM, now EPIC-based process. And across RCM and consulting services, Vee Healthtek has grown five times with this client.
