Increasing Efficiency and Collections with Vendor Management Systems

Increasing Efficiency and Collections with Vendor Management Systems

Hospitals are hectic, busy places, where it can be difficult to manage all aspects of operations thoroughly. This is particularly true of vendor relationships. In order to achieve optimal performance, vendors need to be held accountable for their results – for the sake of both their contractual obligations and the welfare of patients. 

Becoming a TPC Member Brings Meaningful Cost Reductions for Healthcare Organizations

Becoming a TPC Member Brings Meaningful Cost Reductions for Healthcare Organizations

When Hendrick Health System joined TPC in 2011, the organization saw a significant reverse in a years-long trend of rising supply costs. In 2005, supply expense as a percentage of net revenue at Hendrick was at 23%; by 2014, that number had dropped to 18.9%. “That, to me, is a very telling story about the amount of value that TPC has added,” explains Jeremy Walker, Chief Financial Officer of Hendrick Health System. “Overall, the TPC solution has saved our {combined} organizations over $180 million since 2010,” Walker says.

TPC Welcomes Cody Waldrop as VP Revenue Cycle

TPC Welcomes Cody Waldrop as VP Revenue Cycle

Cody brings 22 years of experience in healthcare and revenue cycle, with specific expertise in Patient Access, Revenue Integrity and Patient Accounting for hospitals and physician practices. He joins TPC from PricewaterhouseCoopers where he served community-based and investor-owned hospital clients all over the United States. Cody’s proven track record of using of data-driven analytics and established industry benchmarks, along with his ability to collaborate across all functions of the revenue cycle, has enabled him to successfully achieve strategic revenue cycle goals in a wide range of circumstances.

TPC’s Energy Program Saves Members Millions through Collective Strength and Acquired Expertise

TPC’s Energy Program Saves Members Millions through Collective Strength and Acquired Expertise

All around the country healthcare organizations are facing declining reimbursements and receivables. In response, these organizations have been challenged with finding innovative ways to cut costs and streamline their processes – even in areas not directly related to patient care. For hospitals, saving on energy costs is an absolute necessity. As all hospitals are unique in design, size and the different specialized services they provide, their cost of energy is variable and subject to market forces such as supply and demand, variation in in prices and taxes, and the form of energy used.

A Close Eye on Key Metrics Helps TPC Member Hospitals Improve Their Revenue Cycle

A Close Eye on Key Metrics Helps TPC Member Hospitals Improve Their Revenue Cycle

While the process of managing a patient’s health can be complicated, so too is the process of managing that patient’s account. Healthcare revenue cycle management is a broad area that can be complex, especially for small and independent healthcare facilities with limited resources. However, by focusing on key metrics, TPC hospitals can compare themselves to other Members, identify areas for improvement, and measure progress objectively. 

TPC Members Realize Huge Savings in Anatomic Pathology Lab Testing Services

TPC Members Realize Huge Savings in Anatomic Pathology Lab Testing Services

To meet the challenges of today’s healthcare system, lab executives and administrators are rethinking their business strategies. As the era of fee-for-service from government and private payers is replaced by value-based reimbursement, how will clinical laboratories and pathology groups be paid? As integrated care organizations, such as ACOs and medical homes, enter the healthcare market, which lab testing services will deliver the most value to these new users? And will payers issue coverage guidelines and set adequate prices for the flood of new molecular assays and gene tests coming to market? These complexities have already driven a handful of medical laboratories and pathology practices to bankruptcy, sale, or closure. Innovative lab business and service models, such as those at TPC, are emerging to address these concerns.