Charlotte, NC, May 23, 2015 --(PR.com
)-- PMMC, a leading provider of revenue cycle management solutions, awarded Lake Charles Memorial Hospital with the 2015 Revenue Cycle Leadership Award for “Bridging the Pricing Transparency Gap,” a recognition that reflects Lake Charles Memorial Hospital’s leadership and proactive approach toward price transparency. The award was formally presented to Lake Charles Memorial Hospital at an executive Board meeting.
“We are exceptionally proud to honor Lake Charles Memorial Hospital with this award,” said Roger Shaul, President of PMMC. “Lake Charles Memorial Hospital has taken the necessary steps to address price transparency in today’s increasingly consumer-driven healthcare world.”
Lake Charles Memorial Hospital, part of Lake Charles Memorial Health System, is located in Lake Charles, LA and has 336 medical beds. The hospital utilizes PMMC CONTRACT PRO to manage its third party payer contracts, model future contracts with payers, and monitor underpayments. Lake Charles Memorial recently adjusted its Chargemaster as part of a strategic pricing review, resulting in a price reduction on approximately 25 percent of their line item charges. Earlier this year, an accurate price estimation system was added to the front end process to provide accurate upfront estimates for patients.
“Lake Charles Memorial Hospital is committed to providing our patients with exceptional care and ensuring that our prices are in line with the surrounding community,” said Charles Whitson, CFO of Lake Charles Memorial Hospital. “The addition of PMMC ESTIMATOR PRO helps to ensure that our patients understand their out-of-pocket costs.”
The “Bridging the Pricing Transparency Gap” award represents best-in-class hospitals and healthcare systems who have made it a priority to “bridge the gap” in price transparency by strategically evaluating their charges and presenting them to patients at point-of-service.
Nearly 100 other hospitals across the U.S. currently use PMMC ESTIMATOR PRO to provide accurate patient estimates, increase point-of-service (POS) collections, and reduce bad debt.
PMMC provides industry leading revenue cycle solutions to more than 400 hospitals and 20,000 physician clients. By finding additional cash and creating more efficient workflow processes, PMMC helps healthcare providers improve their margins so they can focus on serving their patients. PMMC is a Microsoft-certified provider and earned the Healthcare Financial Management Association (HFMA) Peer Review designation for its Contract PRO and Estimator PRO products, meeting an objective third-party assessment of overall effectiveness, quality, and value. PMMC also ranks No. 5 on the “Largest Revenue Cycle Management Firms” list according to Modern Healthcare Magazine. For more information, visit www.pmmconline.com.
About Lake Charles Memorial Hospital
Lake Charles Memorial Health System is the market leader and the largest, community-owned not-for-profit health care provider in southwest Louisiana with 3 hospitals, a health care clinic, physician residency program and its own employed physician group approaching 90 physicians. With over 2,500 employees and 300 staff physicians and specialists, the hospital continues to be a pillar of the Lake Charles area, as the largest healthcare system and one of the largest employers in Lake Charles. The service area includes five parishes – Allen, Beauregard, Calcasieu, Cameron, and Jeff Davis.