Navigant and Baptist Health South Florida create joint venture to deliver revenue cycle management improvements in the Southeast
Navigant (NYSE: NCI) and Baptist Health South Florida announced the signing of an operating agreement to create a new joint venture entity to provide revenue cycle management (RCM) services to healthcare provider organizations. The joint venture will initially manage the revenue cycle operations of Baptist Health South Florida, but plans to expand in the future.
We are committed to improving the patient experience and developing more consumer-friendly system. We selected Navigant, and its subsidiary Navigant Cymetrix, to partner with us because they bring deep industry knowledge, scale, and expertise in process and technology, such as machine learning and artificial intelligence, which will enable us to achieve efficiencies and create a more seamless experience for our patients. Baptist Health has remained fiscally sound, mission-driven, and an innovative leader as we continue to transform the way we deliver care. We believe this new organization will also provide opportunities for team members to grow in their careers and will bring new jobs to our local community.
Brian E. Keeley
President and CEO
Baptist Health South Florida
The new company will combine Baptist Health South Florida’s highly skilled staff and Navigant’s industry-leading RCM expertise, innovative processes and technology tools. The new entity is expected to be operational in summer 2018. Further details regarding the joint venture will be provided at a later date as the transition to the new company progresses.
Navigant has extensive experience in management of comprehensive revenue cycle solutions. Navigant Cymetrix manages the revenue cycle for hospitals and physicians of other organizations across the country, and is recognized with industry accolades for its services and solutions. The company has received five Best in KLAS awards since 2012, including being named as a top revenue cycle provider in 2017 and 2018.
As healthcare providers transition to a value-based payment system, there is a critical need for innovative solutions. Our move to create a new commercial entity with Baptist Health South Florida is a perfect example of our deep commitment to partnering with our clients, and to identifying unique pathways to add value. By relying on the services provided by this new venture, health systems will have the ability to direct their focus where it is needed most, on their patients and the health of their communities.