Latest tools support customers drive to achieve financial excellence and weather tough economy-Siem





Siemens Healthcare is showcasing a comprehensive portfolio of financial solutions at the Healthcare Financial Management Association’s (HFMA) Healthcare Finance Conference 2009, Seattle, Wa, June 14-17 (booths #1619, 1621) as part of its commitment to help providers achieve higher operational efficiency, financial excellence, and overcome a challenging economic climate.

Latest tools support customers’ drive to achieve financial excellence and weather tough economy-Siemens Unveils at HFMA Conference

Siemens Healthcare is showcasing a comprehensive portfolio of financial solutions at the Healthcare Financial Management Association’s (HFMA) Healthcare Finance Conference 2009, Seattle, Wa, June 14-17 (booths #1619, 1621) as part of its commitment to help providers achieve higher operational efficiency, financial excellence, and overcome a challenging economic climate.

On display this year are Soarian® Financials, Soarian Quality Measures, and Siemens Financial Services, Inc. (SFS Inc.), together providing innovative tools that enable customers to focus on streamlining their revenue cycle workflow and quality-improvement processes, as well as securing funding for important projects and purchases.

“At Siemens, we understand the challenges that healthcare financial professionals face in financing the delivery of cost-effective healthcare in an increasingly complex economic and regulatory environment,” explains Mitch Icenhower, senior director, Business Management, Health Services, Siemens Healthcare. “We are pleased to support provider organizations through the educational programs offered by HFMA and through our commitment to providing health IT solutions designed to address current and future challenges posed by market–driven and government-mandated initiatives.”

Soarian® Financials, an enterprise-wide Health IT solution, represents the latest in revenue-cycle innovation, going beyond traditional patient management, patient accounting, and practice management systems by embedding core functionality that includes a contract engine, an enterprise-wide master person index, a claims engine and editor, business analytics, and denial management. The workflow-oriented solution helps providers streamline their revenue cycle management, maximize revenue realization, and support provider initiatives to enhance the patient experience. Recent enhancements to its comprehensive claims management component include additional industry-leading edits to further promote clean claims processing and accelerated cash collection, while reducing providers' reliance on third-party claims solutions.

Soarian Quality Measures is a knowledge-driven healthcare data-mining tool, enabled by the REMIND™ (Reliable Extraction and Meaningful Inference from Non-structured Data) Platform. The solution supports healthcare providers’ goals to streamline their quality improvement process by automating chart abstraction and helping expedite the submission of quality measures, as defined by the Centers for Medicare and Medicaid Services (CMS) and The Joint Commission.

In a market where access to capital is limited, hospital leaders are deferring or cancelling projects which may create new sources of revenue, improve productivity and reduce costs, and most importantly, improve patient outcomes. Siemens Financial Services, Inc. can help provide the funds needed to support those vital projects. An intimate knowledge and appreciation of complex funding issues enables SFS Inc. to customize solutions that address capital requirements as well as underlying business issues. The financial solutions offering is focused on optimizing cash flow and maximizing return on investment and includes: equipment leasing, tax-exempt financing, revolving lines of credit, term loans, and real estate financing.

The Siemens Healthcare Sector is one of the world’s largest suppliers to the healthcare industry. The company is a renowned medical solutions provider with core competence and innovative strength in diagnostic and therapeutic technologies as well as in knowledge engineering, including information technology and system integration. With its laboratory diagnostics acquisitions, Siemens Healthcare is the first integrated healthcare company, bringing together imaging and lab diagnostics, therapy, and healthcare information technology solutions, supplemented by consulting and support services. Siemens Healthcare delivers solutions across the entire continuum of care – from prevention and early detection, to diagnosis, therapy and care. Additionally, Siemens Healthcare is the global market leader in innovative hearing instruments. The company employs around 49,000 people worldwide and operates in 130 countries. In the fiscal year 2008 (Sept. 30), Siemens Healthcare reported sales of €11.2 billion, orders of €11.8 billion, and Sector profit of €1.2 billion. Further information can be found by visiting http://www.siemens.com/healthcare .

With some 1,900 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, the Siemens Financial Services division offers a broad range of financial services. This covers activities from sales and investment financing to treasury services, fund management and insurance brokerage. The division’s key customers are internationally active industrial and services companies, as well as public-sector operators. The unit supervises more than 20 equipment financing companies worldwide. Further information: www.siemens.com/finance

Siemens Financial Services, Inc. (SFS Inc.) is a leading provider of business-to-business financial services in the United States. SFS is a committed business ally that combines deep industry expertise with integrated financing solutions to enhance the efficiency, productivity, and competitiveness of its customers. The company, based in Iselin, NJ, enables business expansion for thousands of customers in the healthcare, energy, and industrial sectors by providing customized solutions that range from equipment financing and working capital to project and export finance, and insurance solutions. Further information on Siemens Financial Services in the United States: www.usa.siemens.com/finance

Siemens Financial Services, Inc. (SFS Inc.) is a leading provider of business-to-business financial services in the United States. SFS is a committed business ally that combines deep industry expertise with integrated financing solutions to enhance the efficiency, productivity, and competitiveness of its customers. The company, based in Iselin, NJ, enables business expansion for thousands of customers in the healthcare, energy, and industrial sectors by providing customized solutions that range from equipment financing and working capital to project and export finance, and insurance solutions. Further information on Siemens Financial Services in the United States: www.usa.siemens.com/finance

Contact: Gian Sachdev

gian.sachdev@siemens.com