PR - McKesson Lands Billing and Collection Contract with Hospital

As part of its drive to improve operating efficiencies while delivering a high level of patient services, the Lucile Packard Medical Group will outsource its revenue cycle operations to McKesson. McKesson’s Revenue Management Solutions will handle all billing and collection operations for the more than 650 physicians associated with Lucile Packard Children’s Hospital, an academic medical center on the Stanford University campus in Palo Alto, Calif.

“Signing a long-term, professional revenue cycle agreement with McKesson will assist Lucile Packard Children’s Hospital and the Pediatric/Obstetrics Faculty Practice Organization in predicting and controlling costs for an essential part of our business,” said Pamela A. Molano, chief administrative officer, Faculty Practice Organization and vice president, Physician and Ambulatory Services at Lucile Packard Children’s Hospital. “This is also an opportunity to improve key performance indicators by taking advantage of McKesson’s many years of experience in helping other academic medical centers develop best practices supported by state-of-the art technologies.”

With 1,000 customers and more than 4,000 employees dedicated to helping physicians grow revenues, control costs and reduce regulatory risk, McKesson’s Revenue Management Solutions group is the leading provider of medical billing and accounts receivable management services. Lucile Packard selected McKesson after an in-depth two year evaluation process.

“During our search, we met and became acquainted with the McKesson team who will work with us through the implementation phase of our project and beyond,” said Molano. “We were impressed by their professional, intelligent and organized approach to our specific challenges and needs. This gave us confidence to enter into what we believe will be both a cooperative and successful partnership.”

Lucile Packard joins a growing number of hospitals and physician groups representing more than 17,000 physicians who rely on McKesson to help them improve operational efficiency and financial performance. McKesson’s business consultants, regulatory specialists and approximately 450 certified coders with specialty-specific reimbursement expertise guide organizations through the business complexities of healthcare to help increase revenue and decrease costs.

“We are very proud to partner with Lucile Packard as they seek to achieve new levels of efficiency and patient service,” said Pat Leonard, vice president and general manager, Revenue Management Solutions, McKesson Provider Technologies. “An efficient billing operation that results in increased cash collections is critical to the success of a physician practice. And faster payments mean greater resources to enhance patient care, services and satisfaction.”

About Lucile Packard
Ranked as one of the nation’s top 10 pediatric hospitals by U.S. News & World Report, Lucile Packard Children’s Hospital at Stanford is a 264-bed hospital devoted to the care of children and expectant mothers. Providing pediatric and obstetric medical and surgical services and associated with the Stanford University School of Medicine, Packard Children’s offers patients locally, regionally and nationally the full range of health care programs and services – from preventive and routine care to the diagnosis and treatment of serious illness and injury.

About McKesson
McKesson Corporation, currently ranked 18th on the FORTUNE 500, is a healthcare services and healthcare information technology company dedicated to helping its customers deliver high-quality healthcare by reducing costs, streamlining processes, and improving the quality and safety of patient care. McKesson is the longest-operating company in healthcare today, marking its 175th anniversary this year. Over the course of its history, McKesson has grown by providing pharmaceutical and medical-surgical supply management across the spectrum of care; healthcare information technology for hospitals, physicians, homecare and payors; hospital and retail pharmacy automation; and services for manufacturers and payors designed to improve outcomes for patients.