Conifer Health Solutions, a subsidiary of Tenet Healthcare Corp. (THC) has allied with analytics service provider, VisiQuate, Inc. to enhance its revenue management solutions. VisiQuate is well known for providing predictive analytics services that reduce the gap between real-world data and business analytics and help the clients engage in efficient decision-making.
Revenue management helps clients understand consumer behavior better and optimize the availability of products and prices so as to ensure a steady revenue stream and efficiently maximize the revenue growth of the company. The existing revenue management solutions of Conifer thus allows healthcare service providers such as hospitals, health systems, physicians and government health plans to utilize competent revenue management to better connect with their patients. The alliance with VisiQuate is an enhancement to Conifer’s existing service.
VisiQuate’s business intelligence technology will present a clear idea about its clients’ operations to Conifer, help it to delve into all the aspects of revenue management of its clients and thus provide its revenue management services more competently. Conifer will be able to predict clients’ consumer behavior towards aligning product prices and availability effectively. This should improve yields and in turn drive client productivity and thus help Tenet’s Conifer retain customer confidence.
With increasing focus on improving the quality of care, healthcare service providers often find it difficult to cope with the increased cost of healthcare. Thus revenue cycle management provided by companies like Tenet’s Conifer helps the healthcare industry address this issue. We believe an augmentation in the revenue management service through the alliance with VisiQuate is an added advantage for Tenet’s Conifer as it should bring in a greater number of clients and further expand the existing clientele base of more than 700.
Tenet’s Conifer’s revenue cycle management has been associated with big names like Dell Inc. and Catholic Health Initiatives (CHI). Tenet expanded its business process solutions provider, Conifer by acquiring Dell’s Revenue Cycle Solutions line of business for hospitals and healthcare systems in Nov 2012. In May 2012, it entered into a ten year agreement with CHI to provide revenue cycle services to its 56 hospitals nationwide.
Tenet currently carries a Zacks Rank #3 (Hold). Among others in the healthcare space, Acadia Healthcare Co. (ACHC), VCA Antech Inc. (WOOF) and HCA Holdings, Inc. (HCA) carry a favorable Zacks Rank #2 (Buy) and appear impressive.