BOSTON, April 28, 2015 /PRNewswire/ -- MedAptus® today announced the availability of its Premium Analytics solution as an add-on to its award-winning Charge Capture suite. Customers interested in broader, deeper analysis of data around coding/billing processes and patient encounters now have the option of purchasing the new Premium solution to augment what MedAptus already provides in its standard reporting module.
The MedAptus client base has been utilizing the company's standard analytics package since its release in 2012 to monitor the processes that contribute to the financial and operational performance of physician revenue cycles. This core management report set has enabled customers to assess metrics that include physician work output (RVUs), charge lag, missing charge rate, and E&M intensity levels. By obtaining insights around both provider and administrative staff process efficiency and effectiveness, opportunities emerge to continuously remove bottlenecks and improve system throughput.
Over time customers have communicated a greater desire to analyze the full range of MedAptus data touching the charge capture process; MedAptus has responded to this request by delivering Premium Analytics to a growing user base. This latest capability offers access to the full MedAptus repository of transactional data within customer Charge Capture databases, as well as a set of tools to create on-demand custom reports and real-time dashboards to review and trend that data over time. In addition, MedAptus is incorporating a richer set of analytics and methodologies to enhance the data in its repository. As examples, add-on capabilities within the Premium solution enable easy measurement of patient severity, readmission rates and patient length of stay; a new benchmarking feature will allow organizations to compare performance against MedAptus customer best-practices as well as external benchmarks.
University Physician Associates of New Jersey (UPA), the faculty practice plan of Rutgers Biomedical and Health Sciences/New Jersey Medical School (NJMS), a MedAptus customer for over ten years now, is the first site to adopt Premium Analytics. "Our organization provides all billing and administrative support to nearly 400 providers. We utilize MedAptus Pro Charge to process and manage data for 99% of physician billable activity. We are big believers in the power of insight and have come to rely on MedAptus' standard reporting suite for ongoing improvement of our revenue cycle processes. But we know that the full MedAptus dataset can provide deeper insight and allow us to execute special analyses such as the impact of the ACA on the setting of care for visits as just one example," said David Haier, chief operating officer for UPA.
MedAptus customers interested in the power of Premium Analytics have a variety of options for deployment. Larger enterprise customers may choose to bring the system in-house to fully operationalize the dashboards and new reporting abilities for daily utilization while smaller customers or departmental sites may elect to contract for the system as a service.
"When it comes to automating charge capture, the opportunity for ROI starts at day one and with a robust reporting suite such as what we offer, is ongoing given the insight attainable. Our Premium Analytics takes this a step further for customers that want to go beyond evaluating transactional data and start to understand cause and effect around data points that touch or are tangential to the charge capture process. Delivering Premium Analytics as both software and a service enables any client to take advantage of the vast amount of data in our system that can help refine policies, establish goals and increase overall competitive position particularly in markets where consolidation is still ongoing," said Eugene C. Schneider, MedAptus president and CEO.
MedAptus solutions streamline the process of delivering patient care. From simplifying pre-care clinical workforce needs, to automating administrative tasks at the point-of-care, our offerings provide customers with a foundation for improved operational efficiency, personal productivity and ultimately, optimized financial performance. Adoption of the MedAptus suite enables providers to spend their time where it matters most: with patients. For more information, visit www.medaptus.com, call 617.896.4000 or follow us on Twitter @MedAptus.