Reduce costs and waste
Most physician practices are full of inefficient, labor-intensive processes. Replace these processes and redeploy staff in more productive activities.
Issues and challenges
- Numerous processes can be automated to help practices save money in terms of reduced reliance on labor and increased collections that improve cash flow.
- The average physician practice spends more than $68,000 per physician, per year, in time spent interacting with payers. Much of these costs are attributable to inefficient manual processes.
Source: The Costs to Physician Practices for Interactions With Health Insurance Plans, conducted by the Medical Group Management Association, Weil Cornell Medical College, the University of Toronto and the University of Chicago, 2009.
Opportunities
Coding Billing and Reimbursement
Significantly reduce administrative costs involved in the billing and reimbursement process. Replace inefficient manual processes with automated systems to lower costs and improve efficiency. Transition easily to technology that allows you to take a more assertive stance on fair and accurate payment. Reduce costs associated with MS DRG, ICD-10 and HIPAA 5010 compliance.
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Electronic Data Interchange EDI
Implement low-cost, next-generation EDI solutions and benefit from accelerated revenue capture, reduced costs and errors, and simplified transaction management.
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Electronic Medical Record Practice Management
Save money on billing expenses by providing patients with a secure online service for appointments, prescription renewals, messages, and bill payment.
Build a network of referring providers through a national database via a secure, web-based provider portal.
Federally qualified community health centers can access advanced health information technology systems — at a reduced cost — to enhance patient services and eliminate disparities in care.
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Revenue Cycle Management
Identify opportunities to accelerate cash flow and increase staff productivity with revenue cycle management consulting expertise. Get assistance creating a sound receivables management program. Discover how your results compare against industry benchmarks. Identify and prioritize operational problems.
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Strategic Planning and Financial Management
Benefit from the experienced consultants at Ingenix. We can help your practice:
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