According to Kevin MD.COM reports Electronic health records (EHR) systems are expensive. Really expensive. In fact, there have been reports of these systems causing significant revenue decreases or business interruptions — such as Henry Ford Health System in Michigan reporting that implementing EPIC was a direct cause of their 15 percent net income decline in 2012-2016.
While the system may automatically send your signed claims, if the claim codes are not accepted and the claim is denied or a request for an updated information is requested, the claim goes into a ” management hold” bucket. The claim will require someone from the practice to go in and look up coding information and resend the claim. If you can find the bucket where they are. If the appointed staff person goes on vacation, the claims stack up fast! We believe this is your profit and is the cause of the 15-25% reduction of income being experienced. Most doctors are so busy seeing the patient that at the end of the day, trying to find their revenue is challenging.
We know the systems and we know their hiding places for your profit and revenue. Reach out to PBA, LLC and let us help you find your profit and improve your revenue.