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Fox Chase Cancer Center, in Philadelphia, PA, is an independent, nonprofit institution formed in 1974 by the union of American Oncologic Hospital (the nation’s first cancer hospital, established in 1904) and the Institute for Cancer Research (founded in 1927). Fox Chase’s 100-bed hospital is one of the few facilities in the country devoted entirely to cancer care. In September 2000, the Hospital of Fox Chase Cancer Center became the nation’s first comprehensive cancer center and Pennsylvania’s first hospital to receive Magnet status for nursing excellence from the American Nurses Credentialing Center, which renewed this honor in 2004.

• Licensed Beds: 100
• Operating budget of $281.7 Million for Fiscal Year 2006
• Annual hospital admissions average 4,100

In early 2006, Fox Chase Cancer Center sought a more advanced, and integrated, revenue cycle solution provider. After an in-depth analysis, Fox Chase Cancer Center selected MedAssets as their revenue cycle solution provider of choice. Critical areas Fox Chase Cancer Center wanted to focus on were their first pass percentage, their process workflow within revenue cycle departments, and their A/R days.

• Improved First Pass Percentage Rate
• Improved Process Workflow
• Reduced A/R Days

Fox Chase Cancer Center has experienced significant revenue cycle improvements in the form of reduced A/R days, increased cash flow, increased capacity among FTE’s, and an increase in clean claims. In May of 2006, Fox Chase Cancer Center’s Commercial A/R days were at 73.1, decreasing significantly to 40.8 in November of 2006. Within six months after implementing MedAssets' solutions, Fox Chase experienced an almost 50% decrease in commercial A/R days. Prior to implementing MedAssets, Fox Chase’s professional clean claims rate was about 60%, and their institutional clean claims rate was about 70%. With MedAssets' solutions, Fox Chase was able to increase both their professional and institutional clean claims rate to above 80%. Fox Chase is also experiencing significant productivity improvements. Prior to implementation, Fox Chase was forced to dedicate valuable FTE resources to manually process claims. These tasks are now automated, and Fox Chase is reallocating FTE resources to other revenue cycle business areas.

• Clean Claim Rate has increased almost 20%
• Increase in FTE capacity
• Commercial A/R days decreased almost 50% within the first six months
• Medicare A/R days have decreased almost 20%
• Cash improvement of $17.8 Million