Showing posts with label MEDICAL BILLING SOFTWARE. Show all posts
Showing posts with label MEDICAL BILLING SOFTWARE. Show all posts
Sunday, October 11, 2015
Friday, October 9, 2015
Payers begin to offer incentives for user's digital health data
Health plans are helping increase the value of digital health data for providers and patients
September 29, 2015
Health plans need digital health data. That is a given.
With such massive, diverse member populations, payers have realized they can no longer rely on simply averaging data from their independent information systems to affect cost and quality of care. They need a more personalized approach to help their members and have found a way to do so with provider-and patient-reported digital health data. By incorporating this data into a centralized repository, payers can analyze and use this information to create and improve their various member services. For example, in addition to supporting patient-specific care-management models, integrated data could enable the creation of wellness programs, preventive or disease-management care initiatives or even health-coaching programs. This personalized data can go beyond incentivizing and motivating healthy lifestyles; it can also help payers increase member engagement, a critical objective for many health plan providers.
Some obstacles that may have prevented payers from using digital health data in the past have recently been broken down. For example, some technology companies now offer a "one-to-many" cloud-based data-integration platform that enables providers and patients to input digital health data through disparate wearables, applications and devices. This enables payers to then access and analyze the data via a singular, integrated platform. Legislative changes have also helped break down barriers. For example, the benefits of using digital health data in healthcare are explicitly highlighted in the Affordable Care Act and in recent updates to Medicare reimbursement rules.
However, despite these advancements, health plans have realized that they also need providers and patients to buy-in for the information to be robust enough to be analyzed and used for improved patient care.
So, just as providers have been financially incentivized to use various technologies in their practice, payers now are monetarily rewarding them for integrating digital health data. For example, financial incentives, such as bonuses, preferred pricing and tiered models are common health-plan tactics to help drive providers toward incorporating digital health data into their practice. Further, payers also are offering financial rewards to providers for utilizing such technologies as high-speed networks and large data repositories, as these would enable ease of digital data collection and sharing.
Health plans can now collaborate with providers to incorporate patient information into a central source of aggregateclinical data, biometric data and other data. Such information can be used to not only improve care and lower costs, but also to create health information exchanges, and offer further clinical analytics.
Health plans also are using financial incentives to attract their members to joining digital health data programs. The carrot approach for members includes offers of cash, gift cards, premium reductions or other merchandise for using various devices, applications or other programs to record their health data. Such financial incentives can encourage members to take ownership of their healthcare by engaging in digital health data programs.
And in return, health plans offer their members a consumer/member-friendly dashboard that contains more robustanalytics and insights into their general and specific health trends over time, predictive analysis and other programs in the hopes that they will continue to be engaged in their care -- and in using digital health data technologies.
About Validic:
Validic is the healthcare industry's leading digital health platform. Validic provides convenient and quick access to patient data from mobile health and in-home clinical devices, wearables and applications. By connecting its growing base of customers -- that includes providers, pharmaceutical companies, payers, wellness companies and health IT companies -- to the continuously expanding list of digital health technologies, Validic enables organizations to better coordinate care across their communities, improve their patient engagement strategies and more efficiently manage their patient populations.
Technologies With Positive Growth Potential
"While the EMR market itself is pretty saturated, and usage has really improved since the HITECH Act, the challenge for hospitals and health systems is, now that you have all this data, what do you do with it?" says Matt Schuchardt, director of market intelligence solutions sales at HIMSS Analytics.
There's no shortage of technologies out there to help hospitals improve operations. But it may surprise you to realize how relatively untapped they often still are.
Bed Management
Business Intelligence
Data Warehouse
Dictation with Speech Recognition
Remaining first-time buyers: 44.4 percent
Enterprise Master Person Index
Remaining first-time buyers: 39.6 percent
Summary
" ClaimPay* is dedicated to the management of the revenue cycle of any medical specialty, office, or clinic looking to outsource billing to a third party company."
Company Summary
ClaimPay* brings a doctors most needed resources to the table. We set out to increase profitability, with 10% to 35% more claims paid. Bringing accounts receivable up while decreasing accounts payable, allowing growth within the company and community. By effectively managing the revenue cycle we get the Doc paid.
These procedures include: Working directly with the insurance company. healthcare providers, and patients to get a claim processed and paid with in the minimum time expected.
As well as, handling all aged and collection accounts to insure balance is paid in full, with little write off's and with analytical report, showing the differences ClaimPay* has on your bank account. This allows the Physician more time to preform the quality care needed and is less of a hassle for the HR department.
Thursday, October 8, 2015
CAQH CORE Announces New National Healthcare Operating Rules
CAQH CORE Announces New
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National Healthcare Operating Rules
Health plans, healthcare providers, and the clearinghouses and vendors that support them, now have national operating rules to improve how they can work together as trading partners. The voluntary operating rules will help streamline the electronic data exchange of four more healthcare business transactions: healthcare claims; prior authorization; employee premium payment; and enrollment and disenrollment in a health plan.
CAQH CORE recently announced that the Phase IV CAQH CORE Operating Rules package has been approved and the industry should begin coordinating voluntary implementation. Reaching this milestone is the result of enormous effort by the multi-stakeholder CAQH CORE collaboration, which includes a wide range of public and private entities.
"Pitch Deck"
Management Team
I am going to get the business started, and secure clients for myself through marketing and word of mouth. As ClaimPay* becomes established, I will hire staff as needed. i will provide the proper training and equipment needed for each hired on to also start a home based office. This will open the doors to a variety of people to join today's working class and help boost the local economy. With the experience and knowledge I have gained from previous employment, I will be of great support to the struggles many see within the billing cycle. I will follow a complete step by step structured guide line that is set with in the binding laws and regulations of Washington State, Department Of Health, and HIPPA's Privacy Practices.
Customer Problem
ClaimPay* is a resolution specialist providing services to Medical Doctors, Physical Therapists, and Doctors of Chiropractics, who are paying out more than they are bringing in. Our services solves any billing issues with CPT or ICD-10 coding, data entry, claim submissions, claim follow ups, and collection accounts and will quickly gets you paid. Guaranteed or the next month of services will be free.
Products & Services
ClaimPay* will provide end to end billing needs, such as, patient intake, scheduling, data entry, coding, insurance verification, claim submission, payment posting, collections, and analytical reporting. We will offer customized service options, allowing you to make the right fit for you company's needs. There will be constant contact and open communication with the providers administration and with the patients. Our dedicated and supportive staff will be their to assist in the fine details of the entire billing process. Reducing headaches and easing the tension within your office. Our job is to get you paid for the services provided as quickly as possible. Providers will benefit from our services from the notable growth rate in there services paid for, which brings their net worth up, and their ability to concentrate more attention to the patients needs, and their plan of care.
Target Market
ClaimPay* is a home based office that is located in Kelso, WA. Serving the greater part of Cowlitz County and surrounding areas.
Our targeted market is any medical providers who wants to outsource their billing department to cut costs and increase profits considerably.
Our goal is to contract with local providers to improve revenue with in our community.
Our targeted market is any medical providers who wants to outsource their billing department to cut costs and increase profits considerably.
Our goal is to contract with local providers to improve revenue with in our community.
Customers
Our customers will be smaller medical offices who are seeing a shortage in account receivables from payments from insurance company's due to error rejections, denials, and ineffective follow ups from the in house billing departments and have a high average of unpaid aged accounts. We will increase profitability within one month guaranteed.
Sales & Marketing Strategy
ClaimPay* will have prices that will beat all competition and services of today's going rate for outsourced billing companies. The services we provide will be top priority for every customer we contract with. I will advertise on social media, become affiliates with the local medical associations and attend chamber of commerce meeting to get the word out. You will be happy with our services and see a boost in profits by the end of the first month guaranteed or the next month of our services are free.
Business Model
First rate, top of the line communication between the clients and insurance agency, along with highly detailed, organized and effective management skills ClaimPay* will gain 100% of its clients trust with fast and timely responses and quick turn around time for payments. At a considerably lower cost than having an in-house billing department and all competitors locally.
Competitors
Locally there is only one outsourced Medical Billing Office, that I have found and other than that there are several up north. The biggest issue will be selling my services to offices that are already using in house billing department and getting them to be willing to switch to an outsourced billing company.
Competitive Advantage
With a highly detailed and efficient mind set ClaimPay*s goal is to preform top notch service with error-less claim submission allowing a fast turn around time for payments, at an extremely lower cost than all competitors. We want to gain the trust of our customers by showing them that outsourcing really is the best option for their billing needs. We use the best technology and the highest reviewed clearing houses found, as well as, actively research the going rates for services provided and adjust our prices, to lower than any of our competition. The point is to gain the trust of providers, so that they continue to outsource billing needs to us, which will allow ClaimPay* to thrive and grow into a more nationally known company.
It is known that more than 50% of home workers are able to put 25% more time and effort in to the job to get it done, and that will be shown consistently by the improvements in your company bank accounts.
Wednesday, October 7, 2015
Healthcare Technology Vision 2015
That's according to a new Accenture report, Healthcare Technology Vision 2015, which lays out five key trends in the industry that show adaptation might be the best business model.
First, Accenture analysts are calling it the "platform revolution" – that is the ever-increasing ubiquity of mobile and cloud platforms that far surpass merely the ability to track in real-time a patient’s health. Rather, this is a platform that addresses interoperability, "that captures the data from disparate sources such as wearables, phones and glucometers, and pulls it all together to give a patient and caregiver a holistic and real-time view of the patient's health," they write.
[See also: Healthcare to enter 'third wave of digital'.]
The second trend, as the report emphasizes, is around the "outcome economy." In other words, "it's about delivering results." Hardware, nowadays, brings with it new intelligence. Better intelligence than ever before. And that's going to make patient data accessible with a mere click. It's going to give patients the convenience, and it’s ultimately going to lead to better outcomes, according to the report.
The third trend is around data, what's billed in the report as the "intelligent enterprise" – essentially a "data explosion" that will lead to tremendous clinical outcomes opportunities.
In fact, big data has gotten so big that some 41 percent of healthcare executives say the data volume their organization manages has increased by a whopping 50 percent just from a year ago.
Tomorrow, Accenture officials say, this trend will turn into an EMR including a "lifetime's worth of data"; it will be used regularly to predict ER visits. Consumers will be able to snap a photo of a skin rash and have a diagnosis shortly. Considering this trend, it may come as surprising that still only 28 percent of docs say they routinely use CPOE systems.
Coming it at No. 4 is the "Internet of me" trend – that is personalized medicine. And as more healthcare organizations invest in this technologies and system capabilities, they’re seeing positive results. In fact, an overwhelming 73 percent of health execs surveyed say they've seen ROI after investments in personalization technologies.
The last trend may make some feel a bit uneasy. And it's about the emergence of machines. It's the "workforce re-imagined." Think digital self-scheduling, sharing your own electronic medical record, training machines and connecting with physicians via social platforms.
According to Accenture data, 66 percent of health systems in the U.S. will have self-scheduling by the start of 2020. And nearly half of health execs strongly agree that within three years, they'll need to focus on training machines just as much as training employees. What does this mean exactly? Just think algorithms, machine learning and intelligent software.
According to Accenture data, 66 percent of health systems in the U.S. will have self-scheduling by the start of 2020. And nearly half of health execs strongly agree that within three years, they'll need to focus on training machines just as much as training employees. What does this mean exactly? Just think algorithms, machine learning and intelligent software.
"Patients can actually begin to care for themselves – relieve the burden of the delivery system and get a better result," says Kaveh Safavi, MD, global managing director of Accenture's healthcare business, in a video announcing the report. "That's truly workforce reimagined, because now you've made the patient part of their own care-giving team, and the technology makes it possible."
Tuesday, October 6, 2015
Based on your answers, an S Corp may be best.
Based on your answers,
an S Corp may be best.
This result does not substitute for the advice of an attorney and/or accountant familiar with your unique circumstances.
Advantages of an S Corporation
- Owners (shareholders) are typically not personally responsible for business debts and liabilities.
- S corporations allow for pass-through taxation.
- S corporations may have self-employment tax savings over LLCs.
- Capital can be more easily raised through sale of stock (as long as IRS guidelines are met).
New Bedford Corp. finds way to automate data entry and save money
January, 08 2015
With the Open Enrollment Period for the National Healthcare Marketplace underway, healthcare services providers are preparing for the next wave of medical data stemming from millions more newly-covered Americans.
“It was a manual process, but for us, it’s not simply about entering information.” explained Jonathan Ferrell, president of New Bedford. “Sometimes the patient’s demographic information does not exist in our database and we need to request it from the provider. Sometimes we receive duplicate charges, or tracking charges that shouldn’t be billed to insurance at all. There are decisions to be made along the way.”
Foxtrot now automatically copies patient data from New Bedford’s proprietary billing system and enters it into Intergy at a rate of up to 6 records per minute – a 62 percent time savings versus manual entry – just as if a human were performing the actions themselves. Moreover, Foxtrot works overnight, so employees are free during working hours to build value in other ways. “We can commit more time to other activities like following up with insurance companies for payment. This results in even greater revenue collected on the back end.” says Ferrell.
New Bedford estimates that by automating what would otherwise require two full-time employees to accomplish, they save up to $70,000 per year in employment costs. “If a patient doesn’t exist in our system, we can automatically write an error log. If there is a tracking charge that shouldn’t be billed to insurance, for example, Foxtrot marks that charge accordingly in the system.” continued Ferrell. “Our software reacts when a problem is caught. We call that intelligent data entry.”
About New Bedford Corporation
New Bedford provides Practice Management, Billing, Coding, EMR Auditing, Provider Enrollment, and other services to healthcare providers throughout the Southeast and Mid-Atlantic regions. Their mission is to develop long-lasting business relationships with healthcare providers by developing high-quality back office services in ways that adhere to their core company values.
New Bedford provides Practice Management, Billing, Coding, EMR Auditing, Provider Enrollment, and other services to healthcare providers throughout the Southeast and Mid-Atlantic regions. Their mission is to develop long-lasting business relationships with healthcare providers by developing high-quality back office services in ways that adhere to their core company values.
About EnableSoftEnableSoft develops and markets Foxtrot; software that automates processes inside of Excel, websites, accounting software, and most other business applications. Over 500 organizations use Foxtrot to perform work that until today, would only be performed manually by human employees. These companies are able to better-allocate their human employees to customer service, sales, or product development while their Foxtrot “digital” employees handle the repetitive and routine business tasks of the organization. EnableSoft customers in financial services, healthcare, insurance, law, accounting, and elsewhere use Foxtrot to get more work done without adding headcount, outsourcing, or complex custom programs. Foxtrot handles processes as complex as legal research, and as routine as updating customer information, with speed and accuracy. EnableSoft was founded in 1995 and is based in Orlando, Florida.
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