MedRevenu Utilizes MedInformatix Billing and Claims Management to Improve Client Revenue Cycles through Greater Efficiency
Company Processes More than 50,000 Claims per Month Using Billing and Claims Methodology Powered by the MedInformatix Solution
PUYALLUP, Wash., March 8, 2012 /PRNewswire/ -- MedRevenu, a complete revenue cycle management company based in Upland, California, utilizes the MedInformatix billing and claims solution to meet the needs of its multi-specialty medical office clients.
Immediately following the company's founding in 2006, MedRevenu selected the MedInformatix platform after thoroughly reviewing nine other competitive products. After integration with the MedInformatix-powered system, MedRevenu's clients on average realize revenue gains of 30 percent within the first three to four months of operation. Some larger clients report gains of at least $100,000 per month resulting from more efficient billing and faster claims resolution. MedRevenu actively tracks denials and also offers consultative feedback on how practices can prevent the incidence of denials through the adherence to best claim practices.
A key component of MedRevenu clients' revenue growth is the use of the MedInformatix collections queue. This feature allows the company to sort and organize collection claims into various categories so they can efficiently follow up with each one. It allows them to create a strategic methodology for collections management that maximizes each staff member's time for maximum efficiency and net revenue.
"The key for managing and growing our clients is to implement a sound and practiced methodology for the management of bills and claims," said John Alvarez, Founder of MedRevenu. "With MedInformatix, we have the right solution in place that ensures all of our clients experience dramatic increases in revenue and operational efficiency."
MedRevenu began with only two employees, and experienced consistent year over year growth that was enabled by the scalability of the MedInformatix system. With growth rates of 100% per year in 2009 and 2010, MedRevenu now boasts 25 employees and works with doctor's offices throughout the western United States.
"MedInformatix is a primary reason for our continued success," continued Mr. Alvarez. "It's more than just a billing solution; it's a complete plan for managing patients and keeping them current on their payments. MedInformatix also offers customer service which is second to none. If we need a customization for a client, we know it will be completed quickly, so we experience no interruption in service. We never worry about the security or reliability of our MedInformatix solution, so all of our energies are focused on client satisfaction and revenue generation.
For more information about MedRevenu's complete revenue cycle management solutions, visit www.medrevenu.com.
MedInformatix, Inc. (www.medinformatix.com) is a leading national provider of fully integrated Electronic Health Records. The products have been built around MedInformatix's 25 years of workflow expertise. MedInformatix's suite of products is 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 serviced specialties, MedInformatix accommodates their needs. MedInformatix can turn the dream of a paperless, integrated practice into a reality.
MedInformatix Version 7.5 is now certified to meet 2011-2012 criteria supporting Stage 1 Meaningful Use requirements under the American Recovery and Reinvestment Act (ARRA) as a Complete EHR by the Drummond Group.
This Complete EHR is 2011/2012 compliant and has been certified by an ONC-ATCB in accordance with the applicable certification criteria adopted by the Secretary of Health and Human Services. This certification does not represent an endorsement by the U.S. Department of Health and Human Services or guarantee the receipt of incentive payments.
MedInformatix, October 22, 2010, Version 7.5, 1022201024238, Clinical Quality Measures: NQF0013, NQF0421, NQF0041, NQF0024, NQF0028, NQF0038, NQF0059, NQF0061, NQF0064. Additional software used: TrueCrypt v2.0, email software, spreadsheet software.
SOURCE MedInformatix, Inc.
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