Mayo Clinic and Optum360 Partner to Reduce Costs

Optum360 and Mayo Clinic are partnering to develop new revenue management services that are aimed at improving the patient experience and reducing administrative costs for providers. An essential part of the new service will be to improve the interaction between the provider and payer through open channels of communication early in the care process. The partnership includes a patient cost estimator, streamlining prior authorization, enhanced claims editing functions, and administrative simplification of billing activities, associated with pre-care packaged pricing. Furthermore, Mayo Clinic will be installing Optum360 technology and revenue management services to consolidate the Revenue Cycle Management functions for the organization.

Summary by MedicalGroups.com

To read more from Market Watch click here