Webster, MA (PRWEB) February 9, 2005
Mednet System, a leading provider of innovative and affordable medical billing and professional healthcare services, has exceeded its 2004 revenue expectations by over 240% as compared to last year. A concentrated effort to improve and refine every step of billing, coupled with providing futuristic healthcare technologies to physicians and IPAs, contributed to this yearÂs achievements.
Founded in 2000 to address the growing needs of the healthcare community, the company hired a seasoned management team in November 2003. Under the leadership of this team, Mednet System introduced innovative ways of tracking denials and rejections to improve physicians bottom line. ÂOur philosophy of tracking claims to the last penny has resulted in amazing results for all of our clients, said Niraj Jetly, CEO of Mednet System. ÂOur vision, coupled with a capable team and proven solutions, has been a great asset to our clients.Â
Mednet System grew from three employees in 2003 to a team of 20 by the end of 2004. Besides re-engineering the collections process, the company launched a new Electronic Medical Records (emr4MD) product in October 2004. The product received top honors from AC Group in a study conducted using over 5,000 functional questions divided into 25+ functional categories.
ÂWe have been able to deliver outstanding value to our clients. This is evident from the fact that our billing performance is far superior to many big and reputed billing providers in the industry, said Mr. Jetly. ÂWe welcome feedback from our clients to challenge us in pushing the envelope.Â
Key performance metrics released by the company are:
1) Increased year-over-year collection of all of its clients by over 20% for the same amount of service
2) Days in AR for all clients dropped to less than 30 days as compared to the industry average of 70 days
3) Collection ratio for all major insurance carriers was an all time high of 99%
The company has signed a strategic partnership with Microsoft, First Data Bank and several other healthcare players for its product platform.
About Mednet System
Mednet System is the leading provider of billing and technology solutions for physicians, hospitals and Independent Physician Associations (IPAs). Mednet SystemÂs award winning EMR is ranked among the top products by ACGROUP.
Contact
Sara Williams
Mednet System
877.MEDNET.4
Swilliams@mednetsystem.com
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