Press Release
For Immediate Release
MedeFinance and Media Contact: James T. Quist Chairman & CEO 510.647.1300 extension 204 email: jquist@medefinance.com
Triad Hospitals Inc. Contracts with MedeFinance for System-wide Expansion of Revenue Cycle Management Solution
ATB Manager™ to Improve Cash Collections and Revenue Cycle Efficiency OAKLAND, Calif.– June 28, 2004 — Emeryville-based MedeFinance, a leading provider of web-based revenue cycle analytics for the healthcare industry, announced today that Triad Hospitals Inc., a 50+ hospital system headquartered in Plano, TX, has signed a contract to implement ATB Manager across all its hospitals to help management monitor and measure key performance metrics of the revenue and accounts receivable cycle on a real-time basis. Triad Hospitals Inc. currently has 53 hospitals in 16 states with approximately 8,500 licensed beds. ATB Manager, MedeFinance's web-based business intelligence system which is currently installed in more than 400 U.S. hospitals, extracts data from existing legacy information systems, assimilates the data into actionable information, and provides real-time revenue cycle analytics via the Internet to hospitals across Triad's healthcare system. ATB Manager was previously piloted last year in eight Triad facilities and successfully enabled them to improve financial performance while realizing their previous IT investments in disparate backend legacy systems. “We are pleased to expand our current agreement with MedeFinance,” stated Bill Huston, Senior Vice President of Finance at Triad Hospitals, Inc. “The additional roll-out of their revenue cycle management system beyond the eight pilot facilities aligns perfectly with our goal to leverage high-value technology to improve our financial performance. Working with MedeFinance will enable us to immediately picture our revenue cycle performance more clearly, and on a continuing basis enable management to make better financial decisions.” “Our expanded agreement with Triad is very exciting for MedeFinance”, stated company Chairman and CEO, Jim Quist. “We are pleased to provide this prestigious healthcare system with a technology solution that offers reliable visibility into their revenue cycle performance. The MedeFinance team looks forward to helping Triad implement its revenue cycle improvement initiatives.” About Triad Hospitals, Inc. Triad Hospitals, Inc., through its affiliates, owns and manages hospitals and ambulatory surgery centers in small cities and selected larger urban markets. The Company currently has 53 hospitals (including two under construction) and 14 ambulatory surgery centers in 16 states with approximately 8,500 licensed beds. In addition, through its QHR subsidiary, the Company provides hospital management, consulting and advisory services to more than 200 independent community hospitals and health systems throughout the United States. 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.