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New Financial System Streamlines Billing
A new financial management system, launched in 2013, is enabling Albany Med to better integrate information on both billing and patient care helping increase the Center’s efficiency and management of patients’ information.
Called Soarian Financials, the system standardizes and simplifies the billing process starting when a patient first seeks treatment. It integrates with the medical records database to allow a seamless flow of both billing and medical information from scheduling and registration, to billing and collection.
“This system provides us with a major opportunity to support patient-centered care and reduce costs through more efficient business practices,” said Carol McDonald, vice president of patient financial services. “It helps us to present information more clearly to patients regarding their bills.”
But more than a patient billing tool, the system touches virtually all aspects of the Medical Center’s operations.
“This is a completely new approach to health care financial management that goes beyond traditional patient accounting systems, allowing us to better track performance and meet our financial goals long into the future,” said McDonald.