For immediate release:Wednesday, 24 October 2012
BIRMINGHAM, Ala. -- SuccessEHS today announced that results of a survey of Medical Group Management Association (MGMA) 2012 Annual Conference registrants have been published online at info.successehs.com/rcm-survey-results. The survey results indicate that a majority of the MGMA 2012 conference registrants are missing opportunities to maximize revenue due to inefficiencies in four key areas of the medical billing process, including clean claims, same-day collections, preventable denials and underpayments. A majority of respondents reported high costs for touching non-clean claims, low same-day collection ratios, high revenue loss due to preventable denials and a large percentage of underpayments. In fact, more than 47 percent of survey respondents reported annual loss of revenue due to preventable denials in excess of $25,000, with nearly 18 percent reporting revenue loss of more than $100,000.
SuccessEHS is publishing the survey results to help practices evaluate the effectiveness of their medical billing processes compared to that of their peers.
"The metrics reported in these survey results directly influence revenue, " said Tina Graham, COO at SuccessEHS. "Practices whose own metrics are similar to those found in the survey should take steps now to improve billing functions, and should consider choosing a revenue cycle management partner to help. The need to close gaps and optimize billing processes will become increasingly critical as the ICD-10 transition approaches."
To view the survey results, visit info.successehs.com/rcm-survey-results.
SuccessEHS is a nationally acclaimed vendor providing Electronic Health Record (EHR) and Practice Management solutions with Integrated Medical Billing Services. SuccessEHS also provides Electronic Dental Record (EDR) and Dental Imaging solutions. Founded in 1995, SuccessEHS established itself as a leader in the emerging practice management applications market by delivering an innovative blend of clinical, operational and financial software paired with a suite of specialized integrated success services. SuccessEHS, entirely in-house developed and supported, has achieved multiple certifications from CCHIT.
SuccessEHS's SuccessEHS 6.1 is a CCHIT Certified® 2011 Ambulatory EHR additionally certified for Child Health, with a 5-star usability rating.
SuccessEHS 6.1 is also 2011/2012 compliant and was certified as a Complete EHR on September 30, 2010 by the Certification Commission for Health Information Technology (CCHIT®), an ONC-ATCB, in accordance with the applicable certification criteria for Eligible Providers adopted by the Secretary of Health and Human Services. The certification ID number is CC-1112-909422-1. The clinical quality measures certified include: NQF 0421, NQF 0013, NQF 0028, NQF 0041, NQF 0024, NQF 0038, NQF 0043, NQF 0031, and NQF 0034. The additional software used in testing includes Multum, SuccessEHS Patient Portal, ExitCare Patient Education, and Oracle. This certification neither represents an endorsement by the U.S. Department of Health and Human Services nor guarantees the receipt of incentive payments.