VMO Platform features a comprehensive suite of HIPAA-compliant, customizable applications integrated into existing workflows, delivering cost savings and collections improvement.
Healthfuse, the industry leader in managing and sourcing revenue cycle vendors for hospitals and health systems, today announced that it has launched a new vendor management solution, its VMO Platform, designed to give insight into and manage the entire vendor management life cycle, delivering bottom-line results.
Healthfuse combines technology, analytics and expert consulting services to improve vendor performance and help healthcare organizations establish revenue cycle best practices. With the launch of VMO Platform, Healthfuse is addressing the industry challenge of revenue cycle management being underserved by vendors since it typically requires labor intensive and manual approaches to determine performance. VMO Platform automates administrative functions including benchmarking, reporting, and A/R reconciliation.
“We have found that hospitals often lose visibility and control when outsourcing. We created the VMO platform to help give them that visibility and control back,” said Nick Fricano, chief executive officer of Healthfuse. “Since launching VMO Platform we have seen more than $600M in bottom-line improvements and up to 20% in reduced vendor costs. This platform truly delivers results and allows hospitals to have strong, results-producing partnerships with vendors.”
“We built the VMO Platform with the goal of providing a solution that enables a collaborative approach between hospitals and vendors. It was important to us to improve visibility into outsourcing operations and ensure hospitals are able to achieve long-term stability and financial resiliency,” said Jon Myhre, chief operation officer of Healthfuse. “We are proud to bring this solution to market and have already seen outstanding results.”
Healthfuse drives revenue cycle vendor performance by building, operating, and optimizing hospital vendor management offices. Working with 150+ hospitals and health systems, the Healthfuse VMO platform is a comprehensive suite of HIPAA-compliant, customizable applications fully supported by a dedicated execution team, accelerating cost savings and collections improvement. Healthfuse ensures hospitals and their revenue cycle vendors operate in full transparency, delivering accountability, efficiency, and bottom-line results. Healthfuse is a New Capital Partners portfolio company.