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This is Chris Redgrave for Zions Bank Speaking on Business.
Alta Medical Management has organized a business model around the billing process between doctors, patients and insurance companies. By managing the process, they can provide an average 10 percent increase in payment collection times. Their main focus is to utilize people, process and technology to ensure their clients achieve high patient satisfaction, increased profitability and business process improvement.
At Alta Medical Management, they've made it an art form to hire experienced people who know the right questions to ask. That means patients are billed correctly, insurance companies receive the claim on time and clinics are paid more quickly all without frustrating miscommunication. In smaller clinics, billing can become the difference between profitability and going under. That's why Alta Medical Management's work is so important.
Both owners Jeff Whiting and Ryan Patano (pah-tan-oh) have the education and experience to thrive in this field. And the person who introduced these colleagues and business partners? Jeff's wife, who is a professor for Westminster. She kept telling Jeff she had a student in one of her MBA classes he just had to meet so he finally did. And now they're in business.
Alta Medical Management operates using the lean management model from Toyota, meaning they work to decrease waste and eliminate activities that don't add value or increase customer satisfaction, inside or outside the company. This helped them develop a company culture based on consistent improvement and constant communication. Right now the challenge for Alta Medical Management is to manage their growth so they can maintain their quality. A great example of why Forbes named Utah as the best state for business and careers.
For Zions Bank, I'm Chris Redgrave, speaking on business.
Alta Medical Management PO Box 572528 Salt Lake City, UT 84157 801-747-7267; www.altamm.com
