Tenet Healthcare Strikes Deal For Revenue Cycle Management

Tenet Healthcare Corporation’s (NYSE:THC) unit Conifer recently announced a new revenue cycle management (RCM) deal with Alice Peck Day Memorial Hospital (APD), a member of Dartmouth-Hitchcock Health (D-HH) located in Lebanon, NH. With the addition of APD, more facilities would be able to gain traction from end-to-end RCM services that Conifer Health provides to clinics and hospitals within the D-HH integrated health system.

Notably, D-HH will benefit from Conifer’s knowhow as that will as that will strengthen its finances to get a better vision of its sustainable health system.

D-HH expects Conifer to provide an advanced patient financial experience through this alliance.

Notably, the relationship between D-HH and Conifer Health has delivered solid financial results, such as 450 basis points improvement in operating margins and a 26% reduction in Accounts Receivable or A/R days outstanding since its inception in 2016.

Conifer has already showed its ability to boost patient satisfaction and revenue capture, decrease denials and enhance cash flow along with operating margins.

After Cheshire Medical Center engaged the company in November 2017, APD is the second D-HH system member to embrace Conifer Health for comprehensive RCM services.

Conifer Health Solutions brings more than 30 years of healthcare industry expertise to clients in above 135 local regions across the nation to help drive their financial and clinical performance, cater to their respective communities and prosper in the business of healthcare.

Shares of this Zacks Rank #3 (Hold) company have shed 44.5% of value in a year’s time against its industry’s growth of 7.5%.

Key Picks

Investors interested in the medical sector can take a look at some better-ranked stocks like WellCare Health Plans, Inc. (NYSE:WCG) , HCA Healthcare, Inc. (NYSE:HCA) and Molina Healthcare, Inc (NYSE:MOH) . You can see the complete list of today’s Zacks #1 Rank stocks here.

WellCare Health offers managed care services to government-sponsored health care programs. The company pulled off average positive surprise of 13.52% in the preceding four quarters. It holds a Zacks Rank #2 (Buy).

HCA Healthcare provides health care services. In the last four quarters, the company delivered average beat of 15.74%. It carries a Zacks Rank of 2.

Molina Healthcare is a multi-state healthcare organization. In the trailing four quarters, the company came up with average beat of 88.17%. It sports a Zacks Rank #1 (Strong Buy).

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