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Current News
Permian Regional Medical Center Implements XactiMed's Revenue Cycle Suite to Improve Revenue Cycle Performance
DALLAS, August 23, 2006 – XactiMed, a provider of claims, remittance and denial management revenue cycle solutions to the healthcare industry, today announced Texas-based Permian Regional Medical Center has implemented XactiMed's revenue cycle solution to improve their revenue cycle performance.
"We realized a 50-76% improvement in our clean claims rate upon implementation. This is a manifestation of the soundness of the decision we made to choose XactiMed's revenue cycle solution," said Cleo Cagle, Chief Financial Officer, Permian Regional Medical Center. "We expect to realize continued improvements in A/R performance and cash flow, given the immediate results we have experienced."
"We are pleased by Permian's decision to implement XactiMed's revenue cycle suite," said D.T. Nguyen, XactiMed's President and Chief Executive Officer. "Institutions such as Permian Regional Medical Center continue to turn to XactiMed to help them achieve positive revenue cycle business results. XactiMed's revenue cycle solutions continue to gain broad market acceptance and Permian's selection certainly adds to that monument."
About Permian Regional Medical Center
Founded in 1941, Permian Regional Medical Center is a 175-bed, full-service acute-care medical center located in Andrews, Texas. Permian's mission is to provide the residents of Andrews County and surrounding communities in Texas and New Mexico quality healthcare services, to include Emergency Medical Services and education, in an ethical, consistent, fiscally responsible manner, to perpetuate the future of this institution and the integrity of equal access. Permian's vision is to maintain regional healthcare leadership in rural West Texas while providing quality care, at a cost-effective price. Vision will be accomplished through education of staff, new technologies, and through a hospital strategic/business plan.
About XactiMed
XactiMed provides web-based revenue cycle solutions and outsourcing services to the healthcare industry. XactiMed's claims, remittance and denial management solutions improve efficiency and effectiveness across the revenue cycle resulting in improved financial performance for the hospitals we serve. XactiMed was founded by D.T. Nguyen in 1998. XactiMed is a private company backed by Buena Venture Associates, L.P., an investment fund founded by Sid R. Bass, and Lee M. Bass Inc., of Fort Worth, Texas.
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