LAFAYETTE, CO / ACCESSWIRE / January 23, 2018 / AcuStream, Inc. announced today that it has been selected as Baker Tilly's Revenue Cycle Innovation Center (RCIC) exclusive provider of revenue integrity services. The RCIC provides a new end-to-end solution to help healthcare organizations maximize and manage revenues. The service offering will be provided by a team of experts from AcuStream, Baker Tilly and other specialist providers.
"Revenue integrity is vital to the overall process," says Mike Duke, RCIC Architect from Baker Tilly. "AcuStream's leadership, experience and proven products in capturing lost revenue opportunities for hospitals and physician groups make it an ideal partner to lead revenue integrity services for the RCIC."
AcuStream's proprietary RevBuilder™ and RevReview™ will be integrated into the RCIC protocol. Both products are cloud-based, HIPAA-compliant and need minimal time and resource commitment from a client organization to implement. The products have the added benefits of showing departmental inefficiencies, measuring RVU production, indicating true costs-of-care tied to reimbursement priority, and identifying sources of revenue leaks.
"Over the past few years, we've seen year-over-year margin compression across the industry. In 2016 hospital median operating margins fell to 2.7% and the outlook for 2018 and beyond looks even more dire. Revenue optimization in health care is a critical issue for hospitals, physician groups and integrated health systems," says Jeff Colvin, Chief Executive Officer at AcuStream. "Our new partnership with Baker Tilly will be a key component in the RCIC solution by helping healthcare providers capture lost revenue opportunities and eliminate the potential for future revenue leakage."
The RCIC is focused on developing and maintaining highly effective revenue cycles by combining best-in-class operational consulting capabilities with best-of-breed technologies to address complex problems faced by large hospitals and physician groups.
"Baker Tilly is taking an active leadership role through the RCIC to address a myriad of issues confronting executive management teams in health care," Colvin says. "In entering this agreement, we've been impressed by our shared commitment with Baker Tilly to lower the costs while increasing revenues that fund innovation."
ABOUT ACUSTREAM
AcuStream helps healthcare clients become more efficient and profitable so they can focus on their primary goal of providing quality healthcare to patients. Its products and services are designed for ease-of-use, minimal start-up time, immediate impact and a payment structure based solely on success. The company is led by Jeff Colvin, Chief Executive Officer, and Mike Jones, President. AcuStream is based in Lafayette, Colorado.
ABOUT BAKER TILLY
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 countries, with 30,000 professionals. The combined worldwide revenue of independent member firms is $3.2 billion.
FOR FURTHER INFORMATION:
At AcuStream:
Doug Sundlof, EVP
dsundlof@acustream.com
720.557.2921
At Baker Tilly:
Andrea Moore, Baker Tilly Media Relations
Andrea.moore@bakertilly.co
press@bakertilly.com
312.228.7325
SOURCE: AcuStream
