Siemens Unveils New Enhancements to its Revenue Cycle Solution Soarian Financials at HIMSS 2009

Workflow-driven solution helps providers streamline revenue cycle management, maximize revenue realization, and supports provider initiatives to enhance the patient experience

CHICAGO, April 4 /PRNewswire-FirstCall/ — Siemens (www.siemens.com/healthcare) today announced enhancements to its Soarian Revenue Cycle Management enterprise-wide solution at the Healthcare Information and Management Systems Society (HIMSS) 2009 Annual Conference and Exhibition in Chicago. Most notably, Soarian Financials’ comprehensive claims management solution now includes additional industry-leading edits to further promote clean claims processing and accelerated cash collection, while reducing providers’ reliance on third-party claims solutions.

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Soarian Financials, which is being showcased in the Siemens HIMSS booth (#2036), represents the latest in enterprise revenue cycle solutions, going beyond traditional patient management and accounting systems by embedding core functionality that includes a contract engine, an enterprise-wide master person index, a claims engine and editor, business analytics, and denial management into a comprehensive revenue-cycle solution.

Soarian Financials is perfectly suited for both single and multi-entity providers and extends its innovative revenue cycle design to hospital-owned and affiliated physician practices by providing the practice management tools necessary to support physician office workflows and practice-level receivables management. The latest Soarian Financials release includes enhanced claim validation edits that add depth to Soarian’s comprehensive claims management solution while reducing providers’ reliance upon third-party claims systems.

In December 2008, two institutions chose Soarian Financials as their future-proof solution for adapting to change, improving operational efficiency, and reducing the risks of revenue loss.

Moffitt Cancer Center, a 162-bed facility in Tampa, Florida chose Soarian Revenue Cycle, in part, because the EMPI, Patient Access and Patient Accounting are integrated into one system that would help them improve their operations and achieve their future goals.

“Soarian Financials system rose above the rest for many reasons,” said Ashley Watson, Director of Patient Financial Systems of Moffitt Cancer Center. “They have taken the latest technology and revenue cycle tools and integrated them into one system. The need for bolt-on software is eliminated and the integration allows the system to intuitively process rules at the first point of patient entry.”

The 2000-physician UCLA Faculty Practice Group in Los Angeles, California has chosen Soarian Financials for future implementation for a number of core business reasons: a natural progression from the present Siemens product to full scalability in a group of their magnitude, the advantages of much more capable integration in practice management functions including the elimination of bolt-on systems that were adding cost and complexity and costs to their operations.

The Siemens Healthcare Sector is one of the world’s largest suppliers to the healthcare industry. The company is a renowned medical solutions provider with core competence and innovative strength in diagnostic and therapeutic technologies as well as in knowledge engineering, including information technology and system integration. With its laboratory diagnostics acquisitions, Siemens Healthcare is the first integrated healthcare company, bringing together imaging and lab diagnostics, therapy, and healthcare information technology solutions, supplemented by consulting and support services. Siemens Healthcare delivers solutions across the entire continuum of care – from prevention and early detection, to diagnosis, therapy and care. Additionally, Siemens Healthcare is the global market leader in innovative hearing instruments. The company employs around 49,000 people worldwide and operates in 130 countries. In the fiscal year 2008 (Sept. 30), Siemens Healthcare reported sales of euro 11.2 billion, orders of euro 11.8 billion, and Sector profit of euro 1.2 billion. Further information can be found by visiting http://www.siemens.com/healthcare.

SOURCE Siemens Healthcare