Syncordia Technologies and Healthcare Solutions Corp., a revenue cycle management company based in Toronto, Canada, has entered into a contract with Mercy Health North and LACP/St Rita's Medical Center, the affiliated emergency medical services units of Toledo, Ohio-based Mercy St. Vincent Medical Center.
Here are four things to know about the contract.
1. The contract is for RCM services focused on Mercy St. Vincent's rotary wing EMS, mobile intensive care unit specialty care ground transport, basic and advanced life support, 911 and wheelchair transport, according to a news release. These RCM activities were previously done in-house.
2. Syncordia said it expects to begin RCM services for Mercy St. Vincent in June, after client implementation activities.
3. Once fully ramped up, the contract is anticipated to contribute at least $900,000 of annual revenue to Syncordia, as well as benefits for Mercy St. Vincent, including enhanced analytics, according to Syncordia.
4. "This is yet another example of customers seeing the value of the Syncordia Cloud service offering to improve their RCM performance and profitability, compared to doing the RCM activities in-house. We are pleased to earn the respect and confidence of our new customer and contribute in a meaningful way to their future success," Michael Franks, CEO of Syncordia, said in a prepared statement.
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