News Archive
November 18, 2010
Wellspring+Stockamp, Huron Healthcare and Apollo Health Street
Announce Alliance Providing Comprehensive
Revenue Cycle Solution Offerings to Healthcare Clients
Chicago, Ill. and Conshohocken, Pa. – November 18, 2010 – Huron Consulting Group
(NASDAQ: HURN), a leading provider of business consulting services, today announced that
Wellspring+Stockamp, Huron Healthcare has further expanded its proven revenue cycle
solution offering by forming an exclusive alliance with Apollo Health Street, a leading provider of
revenue cycle services focused on healthcare's toughest financial challenges.
"Macroeconomic trends such as an aging population combined with impending healthcare
reform changes are causing increased margin pressures and forcing our clients to look closely
at how to capture all revenue and transform their cost structure – the revenue cycle is a logical
place to focus," said West Johnson, vice president, Healthcare Revenue Consulting, Huron
Consulting Group. "The alliance with Apollo Health Street complements Wellspring+Stockamp,
Huron Healthcare's leading revenue cycle solution, enabling us to increase revenue recovery for
our clients while aggressively managing the cost to collect."
"We are excited to join forces with Wellspring+Stockamp, Huron Healthcare as both of our
organizations are committed to leveraging proprietary technology, improved processes, and
people with deep domain expertise to accelerate cash flow and reduce the cost of collections," said Karen Ferrell, president and CEO for Apollo Health Street. "Aggressively managing
revenue cycle performance metrics and quickly implementing necessary changes can help our
clients stay financially healthy. This will be essential in the new reality of healthcare reform. The
alliance with Wellspring+Stockamp, Huron Healthcare expands our capabilities in this area."
In the typical revenue cycle at a hospital, health system, or physician practice, process
improvements such as eliminating systemic process breakdowns, improving clinical
documentation, strengthening managed care contracts, and tightly controlling revenue capture
mechanisms can create a sustainable revenue improvement of three to six percent. This
alliance will seamlessly integrate Wellspring+Stockamp, Huron Healthcare's comprehensive
revenue cycle performance improvement approach with Apollo Health Street's broad account
processing capabilities to increase client financial benefits and expedite revenue realization.
"Revenue cycle processes are complex and can include thousands of tasks that span dozens of
departments with hundreds of people and many third parties," said Ken Saitow, managing
director, Wellspring+Stockamp, Huron Healthcare. "Consequently, process breakdowns and
lapses in communication are common and often result in lost revenue. This alliance will further
address those issues facing healthcare organizations through a seamless, integrated solution."
About Wellspring+Stockamp, Huron Healthcare
Wellspring+Stockamp, Huron Healthcare partners with clients to provide comprehensive
performance improvement solutions that improve quality, increase revenue, reduce expenses,
and increase physician, patient, and employee satisfaction across the healthcare enterprise.
Clients include national and regional integrated healthcare systems, leading academic medical
centers, community hospitals and physician practices. Wellspring+Stockamp resides in Huron
Consulting Group's Health and Education Consulting segment. This segment accounted for
nearly 60% of Huron's revenues for the full year 2009. Modern Healthcare ranked Huron
Healthcare third on its 2010 list of the top 15 largest healthcare management consulting firms.
About Apollo Health Street
Apollo Health Street partners with the nation's leading hospitals and healthcare organizations to
achieve healthcare's True Return – the financial strength to offer excellent patient care today
and tomorrow. Enhancing our clients' teams and resources, Apollo Health Street develops
tailor-made, world-class solutions to tackle healthcare's toughest financial and IT challenges.
Our solutions combine award-winning customer service with healthcare domain expertise,
sophisticated technology and global resources.
Apollo Health Street provides customized strategic support services to more than 170
healthcare partners across the globe. Apollo Health Street has nine operational centers of
excellence strategically located throughout the United States. For more information about Apollo
Health Street, call 1.800.350.5781 or visit www.apollohealthstreet.com.
About Huron Consulting Group
Huron Consulting Group helps clients in diverse industries improve performance, comply with
complex regulations, reduce costs, recover from distress, leverage technology, and stimulate
growth. The Company teams with its clients to deliver sustainable and measurable results.
Huron provides services to a wide variety of both financially sound and distressed organizations,
including leading academic institutions, healthcare organizations, Fortune 500 companies,
medium-sized businesses, and the law firms that represent these various organizations. Learn
more at www.huronconsultinggroup.com.
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