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For Immediate Release

MedeFinance and Media Contact:
James T. Quist
Chairman & CEO
510.647.1300 extension 204
email: jquist@medefinance.com

 

Glendale Adventist Medical Center Accelerates Decision Making and Improves Financial Performance With MedeFinance Analytics Suite

 

OAKLAND, Calif. March 27, 2006 – Emeryville-based MedeFinance, the leading provider of on-demand analytics and client services for healthcare financial managers and executives, has implemented MedeFinance Self-Pay™ Analytics and MedeFinance Revenue Cycle™ Analytics at Glendale Adventist Medical Center , part of the Adventist Health network. The analytics suite is helping Glendale Adventist to monitor, manage, and improve financial performance while maximizing collections and reducing bad debt for uninsured, under-insured, co-payment, and deductible patient accounts.

MedeFinance provides healthcare executives with up-to-date information and business analytics to manage any aspect of their operations. Managers can easily compare actual performance measures against established targets, drill into detailed transactions, identify root causes, and take timely and appropriate action to enhance performance. Over 600 U.S. hospitals currently use MedeFinance's adaptive analytics and client services to make rapid and sustainable improvements to enterprise-wide performance.

“ One of the biggest benefits of MedeFinance is their cost effective and IT-friendly approach for improving the manageability of internal data in a way that significantly improves operational decision-making,” stated Kelly Turner, Chief Financial Officer for Glendale Adventist. “Their revenue cycle and self-pay analytics applications will help us speed up our revenue cycle and make more timely business decisions for our organization.”

Glendale Adventist is an early adopter of MedeFinance's new Self-Pay Analytics application, which categorizes patient accounts based on multiple dimensions such as risk, income, and household size to best identify likelihood of patient payment, charity care eligibility, demographic errors, and potential fraud in advance of accounts being written off to bad debt. The solution will help Glendale identify low income patients to ensure they receive appropriate financial assistance according to hospital Charity Care policies.

“We provide healthcare professionals with the business intelligence, technology, and customized services they need to be more efficient,” stated Jim Quist, MedeFinance Chairman and CEO. “Our software-as-service technology platform provides flexibility at a cost that can be supported by hospital budgets of all sizes.”

About Glendale Adventist Medical Center

Glendale Adventist is a 448-bed full-service medical center, providing a wide array of inpatient and outpatient services that meet the needs of the hospital's diverse community. They are part of Adventist Health – a h ealth system that includes 20 hospitals and a number of other health care organizations in California, Oregon, Washington and Hawaii.

About MedeFinance

MedeFinance is the leading provider of on-demand analytic applications and client services to help healthcare financial managers and executives improve performance. The company is recognized for delivering innovative services that create sustainable value through a revolutionary combination of adaptive analytics, an instantly available IT environment, and unparalleled client services. The company serves over 600 U.S hospitals, including Kaiser Permanente, Tenet Healthcare Corp., Partners HealthCare, and The Cleveland Clinic. Founded in 1994, MedeFinance is a rapidly growing, privately held company headquartered in Emeryville, Calif. To find out more about MedeFinance, visit www.medefinance.com .