Major Connecticut Radiology Practice Chooses McKesson for Comprehensive Revenue Management Services

ATLANTA – July 18, 2013 — One of the nation’s largest radiology practices, Jefferson Radiology, PC, based in Hartford, Conn., has entered into a strategic partnership with McKesson Business Performance Services (BPS) for comprehensive revenue cycle management services. The arrangement will help the practice keep pace with a fast-changing reimbursement environment, meet growing regulatory demands and implement cost containment strategies.

Jefferson Radiology is a full-service imaging practice affiliated with five hospitals in the state of Connecticut and two in Massachusetts. The 62-physician practice also operates ten freestanding imaging centers and a vein center. Jefferson conducts approximately 900,000 procedures annually.

Ethan Foxman, MD, the group’s president and chief executive officer, said that although Jefferson has successfully managed its own billing since the group’s founding in 1963, dramatic changes on the business side of radiology led the group to seek an external billing partner.

“Radiology faces a number of challenges today, including reimbursement reductions, evolving payment models, increasingly complex regulations and serious penalties for non-compliance, as well as growing operational costs,” Foxman said. “We realized we needed the resources of an established, national firm to help us tackle these issues in the years ahead. In every area, McKesson’s capabilities met or exceeded our expectations.”

McKesson BPS will deliver a full-range of integrated revenue cycle management services, including coding, billing, claim submission, denial management, regulatory compliance, customer service, and analytical tools to manage financial metrics. Jefferson has also partnered with McKesson for transition support services that include interim management and the wind-down of existing accounts receivable. These services employ a customized, strategic plan to ensure a seamless transition from Jefferson’s in-house billing process to the McKesson platform. McKesson will manage Jefferson’s revenue cycle business at the McKesson Center for Excellence in nearby Ludlow, Mass.

William Stephen Poole, MD, Jefferson’s Treasurer, said that McKesson’s detailed financial and operational reports will generate new insight into the practice’s financial performance and will supply managers with the critical data needed to support effective decision-making.

 “In addition, we look forward to tapping McKesson’s knowledge and expertise on a number of important issues, ranging from reimbursement rates to the coming ICD-10 coding transition,” Poole said. 

Pat Leonard, president, BPS, said Jefferson’s decision to partner with McKesson reflects the rapid changes taking place in radiology today.

“Although Jefferson successfully managed their own billing for 50 years, they understood that additional resources were necessary to remain proactive in the face of the challenges impacting radiology,” Leonard said. “We’re looking forward to helping them generate improvements in collections, compliance, coding and reporting.” He added that BPS and its focus on radiology represents an important component in McKesson’s Better Health 2020™ strategy, a comprehensive initiative designed to provide physician groups with the capabilities needed to reduce costs, improve financial performance and successfully manage complex payment models.

About Jefferson Radiology, PC

Established in 1963, Jefferson Radiology is the largest radiology private practice group in Connecticut. With 10 private offices in central Connecticut and affiliations with 7 regional hospitals, Jefferson Radiology offers a breadth of services and a level of diagnostic and therapeutic radiology expertise unparalleled in the region. Fellowship-trained physicians and highly trained staff are committed to providing exceptional patient care and responsive service. Areas of specialty include Cardiovascular Imaging, Interventional Radiology, Neuroradiology, Oncologic Imaging and Intervention, Pediatric Radiology, Sports medicine and Women’s Imaging. For more information, visit www.jeffersonradiology.com.

About McKesson

McKesson Corporation, currently ranked 14th on the FORTUNE 500 list, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

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