McKesson’s business performance services division has won the business of Elmhurst Radiologists, a 12-doc practice operating within 259-bed Elmhurst Memorial Hospital, part of the three-hospital Edward-Elmhurst system outside Chicago.
The comprehensive agreement calls for McKesson to manage the group’s financial operations while also providing revenue cycle services such as clinical documentation assistance, coding and claims management.
It also has McKesson guiding strategic planning on everything from hospital and payer contracting to staffing to considering mergers with other practices.
In announcing the agreement, Lee Dennis, MD, president of Elmhurst Radiologists, pointed to McKesson’s benchmark contracting and compensation data as examples of operational know-how that the practice hopes to leverage for competitive edge.
“There comes a time when change is not only wise but necessary,” Dennis said in prepared remarks. “As healthcare has become increasingly competitive and complex, we’ve realized that we need to develop a more sophisticated and responsive financial foundation as well as a clearer strategic vision.”
McKesson division president Pat Leonard suggested Elmhurst’s decision reflects a trend, as more physician group practices are looking outside for high-level business expertise.
“Unfortunately,” said Leonard, “the days when practices could rely simply on a bookkeeper to manage their affairs are gone.”