AURORA, Colo., Aug. 7, 2023 /PRNewswire/ — Wakefield, a leading provider of comprehensive revenue cycle management solutions, is excited to announce it has entered into a strategic development agreement with Keystone Medical Billing Services (Keystone), a dedicated revenue cycle management team comprised of best-in-the-industry talent under the leadership of industry veterans. This collaboration aims to address the challenge of surprise billing by building an innovative solution that automates and prioritizes the identification of claims requiring additional work or attention.
Surprise billing has been a persistent issue in healthcare, causing financial hardships and administrative burdens for healthcare providers. Under this agreement, the two companies will combine their resources, knowledge, and technology platforms to create a robust system that uses advanced algorithms and artificial intelligence to automate the identification and prioritization of surprise billing claims, ultimately reducing administrative complications.
“We are excited about this collaboration with Keystone to tackle the challenges of surprise billing claims,” said Mark Schanck, Chief Revenue Officer. “Our joint efforts will result in a groundbreaking solution that revolutionizes revenue cycle management, bringing much-needed relief to healthcare providers with the tools to navigate this complex issue effectively and ultimately contributing to a fair and transparent healthcare system.”
“We look forward to partnering with Wakefield and their technology solutions,” said Heather Norris, Senior VP of Revenue Cycle. “Our combined resources and talent will enable us to effectively address one of the most difficult challenges of the healthcare revenue cycle, allowing us to better serve our providers and our patients.”
For more information about Wakefield and its revolutionary revenue cycle management solutions, please visit www.wakeassoc.com. To learn more about Keystone Medical Billing Services, please visit https://keystonehealthcare.com/services/hospital-services/revenue-cycle-management/.
About Keystone Medical Billing Services
Since 2014, Keystone Medical Billing Services (KMBS), located in Plano, TX, has been providing dedicated revenue cycle management via its team of top talent led by industry veterans. KMBS’ approach includes a highly skilled team of revenue cycle professionals, a patient-advocate-centered philosophy, annual coding audits by nationally recognized third-party auditors, direct and real-time physician education and feedback, and a close partnership with their partner facilities.
Established in 1933, Wakefield specializes in Revenue Cycle Management Solutions, which includes System Conversions, Call Center Partnerships, Insurance Billing, Process & System Workflow Design, Eligibility Assistance Programs, Primary & Secondary Bad Debt Collections, Legal Solutions, Complex & Problem Claims, Out-of-Network Collections, and working with Debt Purchasing providers. Wakefield has and continues to make significant investments in people, processes, and technologies that allow us to develop and implement quality solutions that accelerate cash flow and A/R liquidation.