DALHART, March 13, 2012 – Coon Memorial Hospital (CMH), a 25-bed Critical Access Hospital located in Dalhart, Texas, announced that they have signed a multi-year agreement with NewLight Healthcare, a hospital management and consulting company headquartered in Austin, Texas. Through this agreement, NewLight Healthcare will provide CMH with financial management, revenue cycle management, and an online financial benchmarking tool called NewLight 360.
The scope of the services NewLight Healthcare will be providing consists of CFO consulting services with financial statement creation. It will also include a current state assessment of the revenue cycle processes along with suggestions for and implementation of a future state revenue cycle process.
“The depth of financial management services that NewLight Healthcare offers is a perfect fit for Coon Memorial Hospital. The combination of these services will accelerate cash collection, ensure more accurate charge capture and billing processes, and generate reports from NewLight 360 to show current financial trends compared to state and national benchmarks,” stated Leroy Schaffner, CEO of Coon Memorial Hospital.
CMH has also joined the NewLight Rural Health Network (NRHN) for rural and small community hospitals which offers access to shared products and services that are more effective and efficient than when purchased individually. CMH is utilizing NRHN’s managed care contracting service, which provides analysis and negotiation of commercial managed care contracts. “Newlight Rural Health Network was created to support rural and small hospitals in regional and group efforts to find economy of scale and scope in their operations. We believe Coon Memorial Hospital will benefit from the many services and opportunities NRHN is committed to deliver,” said Shannon Calhoun, Principal of NRHN.
Coon Memorial Hospital is a 25-bed Critical Access Hospital serving the needs of Dallam County and surrounding communities for almost 50 years. For more information on Coon Memorial Hospital please visit www.dhchd.org.
About NewLight Healthcare
Headquartered in Austin, Texas, NewLight Healthcare provides Hospital management, Financial Management and consulting services to rural and small community hospitals. NewLight Healthcare was founded to be of service to rural communities throughout the United States. They operate from the highest level of integrity and make decisions from their hearts. The NewLight professional team has extensive experience and is inspired to ensure the long term success of community hospitals.