HONOLULU, July 9 /PRNewswire/ -- TeamPraxis, Hawaii's premier physician management service organization (MSO) that provides technology and support services to more than 1,000 Hawaii physicians, capped off its inaugural year of selling its proprietary healthcare software solution on the national market with seven new large client signings, bringing the first-year total to 24 premier medical organizations.
These sales completed a very successful first year of partnership with Allscripts (Nasdaq: MDRX), which resells TeamPraxis' software nationally as the Allscripts Clinical Quality Solution (CQS) Powered by TeamPraxis. CQS is a powerful data reporting tool that extracts clinical information from a physician's Allscripts Electronic Health Record (EHR) and administrative systems to automate their participation in pay-for-performance programs. The private and government programs reward physicians who follow best practices in treating patients with chronic illness.
In total, 24 premier medical organizations spread across 16 states signed licensing agreements for the Clinical Quality Solution (CQS), for more than 4,200 physician users. These clients include highly-regarded organizations such as Scripps Health, Novant Health, Delta Health Alliance, Springfield Clinic and Florida Health Care Plans, among numerous others. As one of the nation's largest Medicare-approved registries, TeamPraxis reported last year on behalf of 14 Allscripts CQS clients across the nation total bonuses of over $4.5 million.
"Working alongside TeamPraxis has added real value for Allscripts and our clients," said Allscripts Chief Executive Officer Glen Tullman. "We've experienced very strong interest in CQS, which was released at a perfect time given the requirements for better quality performance and metrics being put forward by the federal government, and we look forward to even greater success as CQS use increases over the next few years."
Innovative Software Tool Empowers Physicians
TeamPraxis' Clinical Quality Solution product, developed completely in Hawaii, currently automates participation in Medicare's Physician Quality Reporting Initiative (PQRI) and Medicare Advantage's Hierarchical Condition Category (HCC) program, which reward participants with an annual bonus payment (for PQRI) or greater Medicare Advantage reimbursements (for HCC).
The financial benefits of these programs have traditionally been outweighed by the burden of manual participation, which imposes extra demands on a physician's and staff's scarce time through additional paperwork and numerous government forms. The solution is CQS, which facilitates participation by drawing upon data that a physician documents in her EHR, serving the dual purpose of automating participation in an otherwise onerous program as well as encouraging better care and more comprehensive documentation during patient visits.
Moreover, CQS provides physicians with a display of their data at the point of care, alerting them when a patient's measurement scores fall outside of a recommended range. For example, when a diabetic's A1c level is too high, or when a woman is overdue for a mammogram. Actions taken during the visit are then reflected in the physician's pay-for-performance quality scores, not only improving care but also rewarding physicians for their actions. By comparison, many pay-for-performance programs provide physicians with this type of information in an after-the-fact report, which can come months after the patient visit, missing both the opportunity to improve care as well as the financial benefit a physician can enjoy.
TeamPraxis has also significantly benefited from the Obama Administration's emphasis on investing in health information technology, as many CQS sales have been catalyzed by the promised physician incentives of the American Recovery and Reinvestment Act (ARRA), which offers up to $44,000 to physicians to encourage the adoption of EHR systems. Because ARRA payments are spread over five years, beginning in 2011 at the earliest, CQS appeals to many large organizations seeking extra revenue to defray the cost of their EHR implementation.
"The CQS product has been a competitive differentiator for our electronic health record," said Tullman. "By empowering participation in existing programs, CQS allows physicians using our electronic health records to provide better, higher quality care while at the same time providing additional revenue to offset costs in this time of economic uncertainty."
Mainland Sales Help Subsidize Local Adoption
Locally, 80 Hawaii physicians using a TeamPraxis-supported EHR are using CQS to participate in the PQRI program. The bulk of the cost of this system has been covered by funds from the Hawaii Medical Services Association's HI-IQ program, which subsidizes physicians' adoption of qualified health information technology products. TeamPraxis uses revenue brought in from mainland sales to help keep software maintenance and R&D costs low.
"We've been blessed by the success of our partnership with Allscripts on the mainland, because it provides long-term stability to our company and helps us provide these leading-edge software solutions to local physicians at affordable prices," said TeamPraxis President and CEO Creighton Arita. "Hawaii is our home, and serving Hawaii's physicians remains our top priority."
TeamPraxis' success has been primarily driven through recruiting local talent. In fact, 41 of the company's near-150 employees have been hired during the past year, including software developers, project managers, business analysts, operations staff and client relations liaisons.
"We've always believed that with the best and brightest local talent, a Hawaii company can compete with anyone on the national stage," said Arita. "We've been blessed to hire great employees in our home and even bring back many kamaaina from the mainland, and we look forward to continuing to do so into the foreseeable future."
TeamPraxis Poised for More Growth
With the ARRA catalyzing EHR adoption on a mass scale, (with the adoption rate expected to rise from 10% to 75% in 10 years), TeamPraxis is poised to expand its market presence, both in Hawaii and across the continental United States. Nationally, partnering with Allscripts offers TeamPraxis the opportunity to partner with the leading national EHR provider, which currently serves nearly 1 in 3 practicing physicians nationwide.
Allscripts uses innovation technology to bring health to healthcare. More than 160,000 physicians, 800 hospitals and nearly 8,000 post-acute and homecare organizations utilize Allscripts to improve the health of their patients and their bottom line. The company's award-winning solutions include electronic health records, electronic prescribing, revenue cycle management, practice management, document management, medication services, hospital care management, emergency department information systems and homecare automation. Allscripts is the brand name of Allscripts-Misys Healthcare Solutions, Inc. To learn more, visit www.allscripts.com.
TeamPraxis is Hawaii's premier physician management services organization (MSO), providing affordable, scalable clinical technology solutions and support services to independent physicians. Founded in 1992, TeamPraxis currently has a staff of more than 140 full time professionals and serves more than 1,000 physicians throughout the State of Hawaii. As a member of the DataHouse family of companies, TeamPraxis builds technology solutions anchored by a powerful information platform, state-of-the-art hardware and world class facilities. For more information, visit: www.teampraxis.com.
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