DALLAS, Feb. 23 /PRNewswire/ -- XactiMed, a provider of web-based claims processing, remittance and denial management revenue cycle solutions to the healthcare industry, today announced it has signed a five-year business process management contract with Richardson Regional Medical Center in Richardson, Texas.
Under the contract, XactiMed will install its complete product suite and assume operational and organizational management of the Richardson Regional Medical Center business office. XactiMed will manage and support billing, cash posting, follow-up and collections activities.
Bob Simpson, Richardson Regional Medical Center’s Chief Financial Officer, said XactiMed’s current success in the Business Process Outsourcing (BPO) market, overall approach and commitment to service were the key factors in their decision.
“Enhancing our revenue cycle’s profitability and efficiency is critical to the success of Richardson Regional Medical Center,” said Simpson. “By utilizing XactiMed’s products and services, Richardson Regional will have a great opportunity to improve the financial and operational landscape of our entire revenue cycle. I look forward to the success this partnership will bring our hospital.”
XactiMed President and Chief Executive Officer Darin LeGrange said, “True revenue cycle management, and success, is not solely due to utilizing the best technology available -- although it obviously plays a significant part. A successful revenue cycle is made possible by the people and processes that surround the solution. Through our XSource solution, XactiMed brings its revenue cycle expertise through consulting, extensive training and management of the business office staff, which facilitates the most effective utilization of our claims processing and management software possible. We are thrilled to be working with an organization such as Richardson Regional Medical Center. We look forward to a long, meaningful partnership.”
About Richardson Regional Medical Center
Richardson Regional Medical Center, a not-for-profit hospital in Richardson, Texas, has offered compassionate medical, surgical and behavioral health services to the surrounding community for more than 25 years. Recently, Richardson Regional Medical Center and The University of Texas Southwestern Medical Center at Dallas announced an affiliation to establish a comprehensive cancer center offering a range of oncology services and clinical research trials to patients in the North Dallas area. Currently in development, the 50,000 square-foot cancer center is slated for completion in 2006. In 2004, the Quality Texas foundation selected Richardson Regional to receive the prestigious Texas Award for Performance Excellence. Richardson Regional is the first ever health care industry recipient of the honor, patterned after the nationally renowned Malcolm Baldrige National Quality Award. For more information, visit http://richardsonregional.com/ .
About XactiMed
XactiMed provides web-based revenue cycle solutions and outsourcing services to the healthcare industry. XactiMed’s claims, remittance and denial management solutions improve efficiency and effectiveness across the revenue cycle resulting in improved financial performance for the hospitals we serve. Based in Dallas, Texas, XactiMed was founded by DT Nguyen in 1998. XactiMed is a private company backed by Buena Venture Associates, L.P., an investment fund founded by Sid R. Bass, and Lee M. Bass Inc., of Fort Worth, Texas.
Contact Us
For more information on XactiMed and its advanced revenue cycle solutions for the healthcare industry, please contact Jon Meehan (214) 382-3503 or jmeehan@xactimed.com . You can also visit the XactiMed Web site at http://www.xactimed.com/ .
XactiMed
CONTACT: Jon Meehan of XactiMed, +1-214-382-3503, orjmeehan@xactimed.com