Navigant and Baptist Health South Florida Create Joint Venture to Deliver Revenue Cycle Management Improvements in the Southe...
April 10 2018 - 7:00AM
Business Wire
Navigant (NYSE: NCI) and Baptist Health South Florida today
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.
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“We are committed to improving the patient experience and
developing more consumer-friendly systems,” said Brian E. Keeley,
president and CEO of Baptist Health South Florida. “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.”
Julie Howard, chairman and CEO of Navigant, commented, “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.”
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.
“With the challenges and changes happening across healthcare,
Baptist Health South Florida is focused on remaining financially
strong and continuously exploring innovative partnerships,” said
Ralph Lawson, executive vice president and chief financial officer
of Baptist Health South Florida.
“We look forward to the opportunities this joint venture will
afford both of our organizations,” said Dave Zito, managing
director and Navigant’s Healthcare segment leader. “The new company
will be committed to driving performance improvement as measured by
key performance indicators in the categories of revenue, cash flow,
and cost of collection.”
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.
About Baptist Health South Florida
Baptist Health South Florida is the largest healthcare
organization in the region, with 10 hospitals (Baptist Hospital,
Baptist Children’s Hospital, Bethesda Hospital East, Bethesda
Hospital West, Doctors Hospital, Fishermen’s Community Hospital,
Homestead Hospital, Mariners Hospital, South Miami Hospital and
West Kendall Baptist Hospital), more than 40 physician practices,
50 outpatient and urgent care facilities, Baptist Health Medical
Group, Baptist Health Quality Network and internationally renowned
centers of excellence spanning across Monroe, Miami-Dade, Broward
and Palm Beach counties. A not-for-profit organization supported by
philanthropy and committed to our faith-based charitable mission of
medical excellence, Baptist Health has more than 19,500 employees
and more than 3,000 affiliated physicians. Baptist Health South
Florida has been recognized by Fortune as one of the 100 Best
Companies to Work For in America and by Ethisphere as one of the
World’s Most Ethical Companies. For more information, visit
BaptistHealth.net/newsroom and connect with us on Facebook at
facebook.com/BaptistHealthSF and on Twitter and Instagram
@BaptistHealthSF.
About Navigant
Navigant Consulting, Inc. (NYSE: NCI) is a specialized, global
professional services firm that helps clients take control of their
future. Navigant’s professionals apply deep industry knowledge,
substantive technical expertise, and an enterprising approach to
help clients build, manage, and/or protect their business
interests. With a focus on markets and clients facing
transformational change and significant regulatory or legal
pressures, the firm primarily serves clients in the healthcare,
energy, and financial services industries. Across a range of
advisory, consulting, outsourcing, and technology/analytics
services, Navigant’s practitioners bring sharp insight that
pinpoints opportunities and delivers powerful results. More
information about Navigant can be found at navigant.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180410005555/en/
Navigant Investor RelationsKyle Bland,
312.573.5624kyle.bland@navigant.comorNavigant Corporate
CommunicationsTimothy Blair,
303.383.7344timothy.blair@navigant.comorBaptist Health Media
RelationsGeorgi Pipkin, 786.527.9524GeorgiP@baptisthealth.net
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