Bassett Healthcare Network outsources IT
per New strategic cooperation, Optum will lead the IT management and revenue cycle operations for Cooperstown, the New York-based Bassett Healthcare Network.
The organizations announced the collaboration last week, saying that Eden Prairie, Optum, based in Minnesota will provide the health system with a host of services. These include tools and strategies that support the patient journey, from scheduling to payment; New analytical capabilities; Recent revenue cycle operations; and IT strategies that include strengthening infrastructure and network security in all five hospitals in the Bassett network.
The relationship with Optum enables
Bassett Healthcare Network, a rural health system, to provide the communities they serve with advanced services and capabilities while maintaining their autonomy as a locally governed system, Dr. Tommy Abraham, President and CEO of Bassett Corporation, said in an email.
“The overarching goal of the collaboration
is to enhance the quality of care and patient experiences in an innovative patient-centered environment,” he said. To do this, the Bassett Healthcare Network and Optum Corporation will work together to increase the efficiency of clinical business and administrative processes. ”
Ibrahim said that about 500 employees at Bassett who perform IT management and revenue cycle functions will have the opportunity to transition to Optum, although the health services company will oversee these processes whether employees decide to move to Optum or stay with Bassett.
“[The health system] She wanted to provide this option to her employees but also encourages them to move to Optum because this is a great opportunity for these employees to grow and access new resources and opportunities while still serving the local Bassett community.
The collaboration is part of a broader approach Optum
is using with service providers. The company is working with health systems across the country — including John Muir Health in Walnut Creek, California, and Boulder Community Health in Colorado — to create partnerships that allow systems to remain independent, while leveraging Optum’s scale, capabilities, and capital, Mike Valley said, Optum’s executive vice president and general manager, Northeastern Services Provider, in an email.
“Rural systems, in particular, are struggling, and partnering with Optum enables Bassett to not only remain independent but thrive in their markets,” said Valley.
There is clear evidence that many rural health systems are in difficult conditions, especially after the disruptions caused by the COVID-19 pandemic. Nearly half (46%) of rural hospitals have a negative operating margin, according to Chartis Center for Rural Health Report Posted in February.
although The most recent tax returns available to the public For Bassett Healthcare from 2018, she points to some financial hardship. The rural health system recorded revenues of $ 166,184 that year, down from $ 1.2 million in 2017.
“Like all hospitals and health systems, Bassett Healthcare Network faces increasing economic pressures that require strategic solutions like these. [collaboration] To maintain its independence and position the organization for success,” Valley said.
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