Navigant, Baptist Health South Florida form Revenue-Cycle Management Joint Venture

Navigant and Baptist Health South Florida via Modern Healthcare

Navigant and Baptist Health South Florida have created a revenue-cycle management joint venture to help providers improve their billing, scheduling and administrative tasks, the companies announced Tuesday. 

The new endeavor, which will initially serve Baptist Health South Florida, aims to leverage machine learning and artificial intelligence to boost revenue and cash flow while lowering the cost of bill collecting, executives said. The joint venture, will also provide new jobs, they said. 

"We are committed to improving the patient experience and developing more consumer-friendly systems," Brian Keeley, president and CEO of Baptist Health South Florida, said in a statement. 

Coral Gables-based Baptist Health South Florida includes 10 hospitals, 50 outpatient and urgent-care facilities, a medical group and 40 physician practices. The not-for-profit has nearly 20,000 employees and more than 3,000 affiliated physicians. 

The health system reported total revenue of $2.48 billion in 2017, up 4.4% from $2.38 billion in 2016. But it had an operating loss of $31.3 million on the year. 

Part of the financial pressure stems from late or unpaid bills. Baptist's provision for doubtful accounts increased 34.4% in 2017 to $410.1 million. 

Navigant, which is primarily a consulting firm, also has its own revenue-cycle management platform Cymetrix, which is used by more than 100 providers.

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