Congratulations CentraMed on ten years of service to our industry. CentraMed has had a significant impact in Floyd maintaining a positive margin these last nine years and has impacted our community. Thank you, CentraMed, for your help in making Floyd a successful healthcare system.

We chose CentraMed to perform an evaluation at Oaklawn in order to identify and quantify our embedded revenues. We know we provide appropriate services to our patients, but with the complexities of clinical documentation and reimbursements we felt we might not be collecting the appropriate revenues. CentraMed focused on our revenue processes from both the clinical and administrative perspective and it was determined that our facility has opportunities for process improvement. We were so pleased with the assessment performed by CentraMed, we made the decision to dedicate internal resources to focus on revenue management.

Cedars-Sinai would like to congratulate you on a very successful ten years. When we first met with CentraMed in 2000, we believed you had a great product and business model to offer healthcare organizations. Our partnership has proven successful for both of us. Today, you are a solid, thriving organization and we have added substantially to the hospital’s bottom line since we first began implementing your programs. This revenue goes directly to fund our teaching, research, and patient care mission. The work that you do to support hospitals’ financial mission in commendable. We wish you the best in your future endeavors.

Our member organizations using CentraMed’s services have consistently reported significant new revenues ‘found’ that have made a major impact on their financial performance. They find CentraMed’s approach to revenue management to their liking since it emphasizes the training and development of each organization’s internal revenue management staff as opposed to just finding the next opportunity to sell additional consulting time. CentraMed’s unique approach to revenue management has definitely paid off for our members. We continue to be very satisfied with their results and their commitment to working with our members as true partners in revenue management.

We embarked on a relationship with CentraMed in 2002 to establish a Revenue Management Department (RMD.) Probably like many facilities, these functions were buried in other departments such as Patient Financial Services, Information Systems, and Case Management with no full-time commitment, consistency or organization. CentraMed was able to provide a realistic assessment of our potential and then help us organize and train staff to ensure success. It is probably one of the most important and best decisions I made since becoming CFO for this hospital and healthcare system.

We became a client of CentraMed in 2001. The first year of our operation, we (the Revenue Management Department – RMD) contributed $4 million net revenue to the bottom line. Each year thereafter, our RMD has contributed $7 to $9 million in additional net revenue. Coincidentally, our net profit for that year was $4 million so our CEO was an instant believer and huge fan of revenue management.

At Phoebe, we have been a client of CentraMed for the past three years. Throughout our engagement we have been very pleased with their services and the value they have added to our revenue cycle efforts. Our department (RMD) has shown increased revenue that is many times the expense associated with creating the department. And we could not have accomplished this without using CentraMed.

CentraMed has helped us successfully in-source our revenue cycle without any interruption in cash flow and addressed numerous areas of revenue leakage in both clinical and business office departments. Over the year since we began working with CentraMed, we have since our net revenue per patient day increase by more than 10%. Our CentraMed partner, Jack Duffy, is an expert, an innovator, and an educator. He has created training and development opportunities for our staff that have enabled us to make tremendous improvements in the accuracy and efficiency of our revenue cycle operations.

Congratulations on ten years in business. We engaged CentraMed to provide training and a road map for process change and we managed to meet our first goal for Dec 31, 2001 of $1 million dollars. We continue to increase, which has helped us provide resources to the community.