Press Release
For Immediate Release
MedeFinance and Media Contact: James T. Quist Chairman & CEO 510.647.1300 extension 204 email: jquist@medefinance.com
The Advisory Board Company Teams with MedeFinance as Technology Partner for New Revenue Cycle Performance Program
Comprehensive Program to Empower CFOs With Real-time Performance Metrics and Platform for Best Practices in Revenue Cycle Management OAKLAND, Calif.– May 17, 2004 — The Advisory Board Company, (Nasdaq: ABCO) the nation's leading best practices research and analysis company for the health care industry, and Emeryville-based MedeFinance, a leading provider of revenue cycle analytics, have announced a strategic partnership to provide the Advisory Board membership of over 2,300 U.S. hospitals, health systems and other providers with continuous business intelligence on the drivers of revenue cycle performance. The technology backbone of the Advisory Board's newly launched Revenue Cycle Performance Program is MedeFinance's web-based business intelligence system that will extract data from member facility information systems, assimilate the data into actionable information, and provide real-time revenue cycle metrics via the Internet to member hospitals and health systems. The Advisory Board-MedeFinance alliance addresses what has become the number one concern of today's hospital and healthcare leaders: improving financial viability, with revenue cycle management at the heart of the initiative. The Revenue Cycle Performance Program establishes a best practices platform to enhance member institution's ability to proactively anticipate financial challenges and make the most effective decisions for improving bottom line performance. “The healthcare revenue cycle is very complex, and financial leaders today need real-time, comprehensive best practices data to drive accountability and achieve best-in-class performance,” stated Frank Williams, CEO of The Advisory Board Company. “MedeFinance's technical expertise in web-based revenue cycle analytics and their on-line business intelligence tool will contribute significantly to the success of this new program launch, while extending tremendous value to our member's best-practices research in revenue cycle improvement.” “Ensuring that the revenue cycle is operating at peak performance is critical in today's healthcare environment, stated Jim Quist, CEO of MedeFinance. “We are excited that our technology solution will provide members on-going access to the most critical revenue cycle management benchmarks, and look forward to helping The Advisory Board Company and its members take their revenue cycle management initiatives to the next level.” The Revenue Cycle Performance Program is the Advisory Board Company's latest membership program geared to provide best practices and comprehensive resources to drive informed operational and strategic decision-making. About The Advisory Board Company The Advisory Board Company provides best practices research and analysis to the health care industry, focusing on business strategy, operations and general management issues. The Company provides best practices and research through discrete annual programs to a membership of over 2,300 hospitals, health systems, pharmaceutical and biotech companies, health care insurers, and medical device companies in the United States. Each program typically charges a fixed annual fee and provides members with best practices, research reports, executive education and other supporting research services. About MedeFinance MedeFinance is a leading provider of revenue cycle analytics for the healthcare industry. The company is recognized for delivering innovative products and services that improve bottom-line performance and create sustainable value for its clients, which include Kaiser Permanente, Tenet Healthcare Corp., Partners HealthCare, and Triad Healthcare Inc. MedeFinance is a privately held company based in Emeryville, Calif. To find out more about MedeFinance, visit www.medefinance.com.