Results matter: Improved collections, lower costs and the customers behind GE Healthcare’s Frost & Sullivan award

According to a recent report, the average 350-bed hospital has lost $22M a year on average because of revenue cycle issues[1]. Furthermore, U.S. hospitals lost approximately $262 billion due to denied claims in 2016.[2] That’s a problem – not just for providers who are working to control costs, optimize payments and improve revenue cycle performance, but also for patients who are left with a large administrative burden amid sickness or disease.

At GE Healthcare, we are dedicated to partnering with our customers to deliver advanced digital solutions that can improve financial performance, increase payer/provider collaboration, automate billing workflows, identify patterns in claims denials, and support the adoption of value-based payments. It’s my privilege to announce that because of these solutions and after extensive market research, Frost & Sullivan recognized GE Healthcare with the 2017 Frost & Sullivan Enabling Technology Leadership Award.

As the General Manager of GE Healthcare’s Enterprise Financial Management business, I am incredibly proud of this award and the company’s continued dedication to helping our customer achieve the financial outcomes that are critical to their success. 

I want to thank our customers who have trusted us to streamline their revenue cycle. It’s because of them that GE Healthcare has been able to set a new standard for financial performance for hospitals, ambulatory practices and community clinics alike. 

And while it’s humbling to receive this recognition, it’s even more exciting to know what this means for the industry’s future. Making healthcare finance more efficient and more innovative is possible, and I look forward to continuing to work with healthcare organizations to help them achieve this reality.

To learn more, please visit gehealthcare.com/centricitybusiness