LOS ANGELES, July 22 /PRNewswire/ -- Upon its founding more than 60 years ago, Robert D. Russo M.D. and Associates Radiology's business and model was infinitely more simple than what technology, the nation's economy and medical insurance practices have conspired to make the six-location Fairfield County, Conn., medical imaging practice today. And that's a good thing. Changes driving this new paradigm have dramatically improved diagnoses and treatments through the ongoing improvement of X-ray technology and the development of mammography, ultrasound, CAT scans, PET-CT, MRI, DEXA and imaging guided procedures.
Though unrelated, life-improving and often lifesaving medical developments on the patient treatment side have advanced seemingly in lockstep with cash flow challenges, as well as complex insurance and other regulations that Robert D. Russo M.D. Sr. couldn't have imagined when he launched the business. Against this backdrop, the practice six years ago received a booster shot with the purchase and implementation of MedInformatix' Radiology Information System (RIS) across its network.
"The implementation of Electronic Medical Records (EMR), particularly over the past three years, has made RIS a depository for everything from patients' medical charts and supporting images such as scripts, drivers licenses and insurance cards," noted David Grandchamp, Russo Radiology's Director of Information Technology. "It also houses co-pay information as well as scheduling and doctors' notes transcriptions." Advanced medical technologies and pharmaceuticals, while enhancing patient treatments and outcomes, have contributed to escalating healthcare costs and cash flow issues, even for firmly established heritage businesses like Russo Radiology. MedInformatix RIS' partnership with revenue cycle management company ZirMed has dramatically quickened the practice's revenue cycles by identifying the parameters of patients' insurance coverage upfront, at the front desk.
Because of the tight interaction between the MedInformatix and ZirMed systems, insurance claims are batched and submitted daily, resulting in faster reimbursement for Russo Radiology.
"Before MedInformatix RIS, 15 percent of all front desk insurance payments were ultimately denied because of high deductibles, wrong ID numbers, co-pay and other issues," Grandchamp said. The percentage of rejections was steadily increasing to the extent that our Days on Accounts Receivable (DAR) averaged 45 days, while insurance payment submissions worked their way through the system.
"RIS enables our front desk to immediately, upon scheduling or patient arrival for an appointment, verify insurance information and, when preliminary insurance inquiries are denied, ask patients if they participate in other plans or have other ways to cover the cost of a visit and imaging procedure," Grandchamp said. This capability has lowered Russo Radiology's DAR to 35 days.
In addition to ZirMed, Russo Radiology, to save costs and further enhance revenue has also integrated MedInformatix RIS with Nuance Healthcare's PowerScribe web-based speech recognition reporting system to give radiologists "one-click" access to RIS, PACS and reports without the need for a transcriptionist. "Information that once required three separate clicks, or searches, can now be quickly accessed by radiologists in one click, further speeding the process and enabling each of our locations to serve additional patients," Grandchamp said.
MedInformatix, Inc. (www.medinformatix.com) is a leading national provider of fully integrated Electronic Health Records. The products have been built around MedInformatix 25 years of workflow expertise. MedInformatix suites of products are designed on a single database using Microsoft SQL. Whether the client is a single physician who went live in 1994, a 13-location cardiology practice, the busiest radiology practice in Manhattan, or one of 15 other specialties it services, MedInformatix accommodates their needs. See why so many practices from various specialties choose MedInformatix. With 13 Microsoft nominations in 8 years, MedInformatix can turn the dream of a paperless, integrated practice into a reality.
Founded in 1999, ZirMed is a nationally recognized leader in delivering revenue cycle management solutions to healthcare providers. ZirMed enables healthcare providers to leverage the power of technology to cure administrative burdens and increase cash flow. ZirMed solutions include eligibility verification, credit/debit card processing, check processing, claims management, coding compliancy and reimbursement management, electronic remittance advice, patient statements, patient e-commerce solutions, provider credentialing, and lock box services. ZirMed solutions are designed to complement provider workflow and to provide innovative, creative and flexible solutions for healthcare's most pressing administrative challenges. For more information about ZirMed, visit www.zirmed.com/pr.
|SOURCE MedInformatix, Inc.|
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