One of Washington Hospital Services’ (WHS) core missions is to help our hospital members find business solutions that can help them navigate this turbulent time in health care. As health care moves to value-based reimbursement models and technology plays an ever larger role in health care delivery, a common question that we hear is, “where are we going to find the money?” While we are hardly a cornucopia, WHS has found partners that may be able to help you find some financial opportunities that are not in the traditional places our members have looked.
Commerce Bank represents an Automated Payment Solution. With over 400 hospital clients of all sizes nationwide, they have returned millions of dollars of shared revenue to those hospitals. SunRX has begun a prescription saving program that not only helps patients save up to 90% on their prescriptions, but also generates revenue for hospitals that before was going to pharmaceutical companies. Network Services Solutions helps members by assessing the bandwidth needs for things like electronic health records and population health tools and then helps the members acquire the tools to get that bandwidth. More importantly, they help our rural members take advantage of an underutilized grant program that can help reduce the cost by up to 90%.
Para HealthCare offers comprehensive revenue cycle management solutions with a passion and expertise for providing service to critical access and rural hospitals. For public hospital districts, the Association of Washington Public Hospital Districts (AWPHD) was successful in getting HB 2771 passed. If there are plans to take advantage of the rule change to renovate or take up any other construction projects, Meridian Leasing Company may be someone to talk to. They specialize in enabling hospitals to get the financing that they need in order to offer the services that their communities need.
Nothing in life is ever certain, but given all of these companies’ history of success with hospitals across the country, there is a good chance that they will be able to help find some revenue that may have been over looked.