OVERLAND PARK, Kan.--(BUSINESS WIRE)--Ongoing health and human services consolidation requires solid, efficient, scalable financial management strategies and processes for providers on growth trajectories.
Gracepoint Management, a Tampa-based network of accredited behavioral health and drug and alcohol treatment centers, has selected the Plexus Revenue Cycle Management™ service from Netsmart to optimize its financial management processes as it scales for continued growth. Gracepoint’s member agencies and more than 1,000 team members provide a wide range of inpatient and outpatient treatment programs in 48 locations spanning seven Florida counties.
“As we continue to grow organically and through acquisitions, one of our key objectives is to consistently enhance our financial management processes,” said Joseph Rutherford, chief executive officer, Gracepoint Management and Mental Health Care Inc. “Netsmart’s revenue cycle team has the strategic and operational expertise to help us improve our infrastructure and processes to successfully scale for the future and continue using more of revenue directly on services for people. Partnering with Netsmart in this way allows our leadership to focus on strategic issues that will enable us to grow our organization and provide better services to the consumers of central Florida.”
Over the next five years, Netsmart will manage and operate Gracepoint's billing and eligibility, and manage its accounts receivables. Gracepoint will leverage Netsmart's best practices developed through decades of serving behavioral health providers nationwide. These strategies are designed to provide significant return on investment.
Gracepoint will use Plexus Revenue Cycle Management services to:
- Control and improve cash flow
- Speed billing cycles and optimize billing efficiency
- Increase first-submission claims acceptance
- Reduce accounts receivable days outstanding
- Decrease administration costs to meet state requirements
- Keep up with rapidly-changing billing and coding requirements like ICD-10
“With growth comes the need to scale, and we’re pleased to provide our revenue cycle expertise to Gracepoint as they focus on further expanding their mission of educating, advocating for, and giving hope to people touched by behavioral health and developmental challenges in a large area of Florida,” said Michael Valentine, chief executive officer, Netsmart.
Gracepoint already uses Netsmart’s myAvatar™ CareRecord™ electronic health record (EHR) and CareConnect™ HIE solutions.
About Netsmart
Netsmart is committed to helping health and human services providers deliver effective, outcomes-based care with Netsmart CareFabric™, a tightly woven framework of innovative clinical and business solutions and services that supports integrated, coordinated delivery of health services across the spectrum of care.
More than 23,000 client organizations, including 450,000 care providers and more than 40 state systems use Netsmart solutions to help improve the quality of life for more than 25 million people each day. Netsmart clients include mental health and addiction services agencies, health homes, psychiatric hospitals, private and group mental health practices, public health departments, social services and child and family health agencies, managed care organizations, and vital records offices.
Netsmart is pleased to support the EveryDay Matters Foundation, which was established for behavioral and public health organizations to learn from each other and share their causes and stories. Organizations can also request grants for their cause or to help fund technology that advances the way care is delivered. For more information, visit www.everydaymatters.com/foundation.
Learn more about how Netsmart and CareFabric are changing the face of healthcare today. Visit www.ntst.com, call 1-800-472-5509, follow us on Twitter, like us on Facebook or visit us on YouTube.
Plexus Revenue Cycle Management, myAvatar, CareRecord, CareConnect and CareFabric are trademarks of Netsmart Technologies, Inc.
