With FTPR Save Money and Improve Efficiency

It is important to develop close and interactive partnerships with payers and their providers and allow achieving a superbly high level of quality, knowledge and service to customers and partners. The incentive programs are designed to support providers in their Health IT transition and instill the use of EHRs in meaningful ways to help practitioners to improve the quality, safety, and efficiency of patient health care.

Revenue cycle management is a significant component of any medical practice aims to achieve effective patient care for medical providers through an easy transition from paperless system. Through advanced technology, EHR works toward saving money and improving efficiency in medical organizations. EHR provides vital services such as billing and claims data in addition, the clean interface of EHR helps physicians keep their tasks organized and easy to reach.

Through streamlining the medical billing process and managing the details of appointments, EHR helps physicians to focus more time to patient healthcare and less time on administration. Whereas Payerpath first time pass rate reach 98%, significantly better than the industry average of 90-92%.

According to Collaborate MD their monthly first pass claim acceptance rate across all of our customers has consistently averaged 99% — 29% higher than the national average! In fact, a large portion of customers experience between 99–100% first pass claims acceptance at the clearinghouse.

Healthcare financial dealings give us a solid understanding of the challenges facing the industry and allow us to develop leading technologies that participate to the overall success, efficiency and reliability of the healthcare community.

References:

1. http://www.payerpath.com/default.html
2. http://www.jazdhealthcare.com/healthtech/company/Allscripts-Misys-Healthcare-Solutions-Inc.htm?categoryPath=Finance-and-Administration%2FRevenue-Management%2FHealthcare-Revenue-Cycle&supplierId=20000666&view=brief
3. http://www.collaboratemd.com/benefits/claim-acceptance-rate
4. http://www.jazdhealthcare.com/healthtech/company/Allscripts-Misys-Healthcare-Solutions-Inc/Payerpath-Overview.htm?supplierId=20000666&productId=3887
5. http://www.business-software.com/product/eclinicalworks-emr/

Greater Success With E- Prescribing

 E -Prescribing or Electronic Prescribing is an eligible service to electronically send an accurate and error free prescription to a pharmacy by healthcare provider. It is a centralized, paperless system for handling medical prescriptions.  Instead of writing prescription on paper, physician enters it directly into his system and prescription travels from physician’s system to the pharmacy’s computer. E- Prescribing is meant to reduce the risks linked with traditional script writing. E-prescribing allows a physician to electronically transmit a prescription.

Electronic prescription handles data issues and collects health information about the patients, including from patient beginning through discharge. Electronic prescription also makes it easier for physician to access a list of medications and enhance overall medication management process.

Benefits of E- Prescribing

Fig. e-prescribing

Electronic Prescribing plays an important role in advancing patient care and improving our health care system more effectively. Providers can better manage patient prescription with reducing prescription errors and drug interactions. Modern electronic prescribing software can provide a lot of benefits to a hospital and its staff. Some benefits of the software include:

• Detailed history of patient drug prescriptions
• Improved patient safety
• Reduction of medication errors
• E prescribing for discharge medications
• Improve patient safety and quality of care
• Prescription arrives at pharmacy before you leave doctors office

An electronic prescription allows you to send electronic prescription to the pharmacy, receive electronic refill requests and electronic replacement requests for a general medication. E- Prescription offers a powerful tool for physicians to safely and efficiently manage patient’s medications and to ensure greater convenience for patients. Electronic prescription also makes it easier for physician to access a list of medications and enhance overall medication management process.

Accountable Care Organization: A step towards Integrated Healthcare

An ACO or Accountable Care Organization is a government healthcare program that aims to reduce patient’s total cost while making the providers accountable for the quality of care provided.  The main purpose of this ACO program is to provide better patient care leading to better care for population that will ultimately result into slow growth in costs.

The Centre of Medicare and Medicaid has defined some rules for the providers who want to be a part of this healthcare program. The rules are published in October 2012. There are 33 rules divided into four categories, which are:

• Patient experience
• Preventive health
• Care coordination
• Caring for at-risk populations

Being a part of this program, providers will be held eligible for shared savings. ACO also defines bonus eligible providers. This serves as an incentive for the providers to keep their costs down.

According to ACO rules, Electronic health record is not mandatory but a performance measure. The rules emphasize collecting and sharing data to create an integrated network of providers, practices and other healthcare institutions. The providers who already have qualified for meaningful use incentives will have an added advantage in terms of performance assessment. The ACO is in implementation phase and is expected to eliminate fragmentation from healthcare industry.

Are you happy with your EHR?

EHR Always the right choice - In this ongoing era when healthcare industry is going through major transformation, implementing an EHR is a critical decision. If successful, it can double practice revenue and improves patient care by manifolds. However, if it fails, it can also go the other way around.

The positive and negative impacts of EHR implementation depend greatly on the EHR vendor and the way EHR is implemented. Not every EHR is suitable for every practice. First analyze your requirements and then choose a certified EHR from a reliable vendor. An EHR implemented module-wise and followed by proper trainings has less chances of failure and is expected to keep providers happy.

If you are not happy with your EHR, give it a try with some remedial measures before declaring it a failure. If your EHR is not working out, contact the vendor. Most of the time vendors make serious efforts to resolve the issue as it can hurt their reputation. If you think that providers are having difficulty in using EHR, you can ask your vendor to arrange trainings. It is always safe to choose EHR that offer 90-day trial period or warranty. This can save you from loss in case of EHR failure.

Fig. EHR - Always the right choice.