In the Battle for Fiscal Survival among Healthcare Companies, This Document Management Solution Stands Out
Over $1.5 trillion was spent on healthcare last year, and $300 billion was spent on paperwork rather than patients. FineStar Imaging summarizes a dramatic solution that saves time and money for a large healthcare service organization.
New York, NY (PRWEB) May 3, 2006 -- Over $1.5 trillion was spent on healthcare last year. $300 billion was spent on paperwork rather than patients. FineStar Imaging LLC(http://www.finestar.com) announces their integrated offering, attacking costs by working with healthcare providers and intermediaries to digitize documents and improve workflow.
Managed Health Care Associates, Inc. (MHA) of Florham Park, NJ is the nation's largest provider of contract purchasing services to nursing home pharmacies and represents over 1200 pharmacies. Serving about 1.4 million patients and purchasing over $4 billion of healthcare products, they were drowning in their own paperwork.
Each of 150+ pharmaceutical manufacturers requires 5-15 pages of documentation from each of 1200+ pharmacies. This means each pharmacy has to fill out and sign 1500 pages to be able to benefit from the discounts offered by the manufacturers. "Let's see, that's 150x10x1200 or about 1.8 million pieces of paper that need to be regularly updated and available for audit by the pharmaceutical companies," says Michael Ehrlich, Managing Director of FineStar Imaging LLC. Skyrocketing paperwork costs were passed on to the consumers and their insurance companies.
Ehrlich worked with MHA's Director of IT, Greg Thomas, to transform their process into an almost entirely paperless one. By digitizing the pharmaceutical manufacturers' forms and collecting the data into a database, MHA is now able to pre-populate the forms with 95%+ of the data needed. Pharmacy members now need only review the forms, fill in the remaining blanks and sign the forms. Since each page has a unique bar code, the forms which may be returned by fax, email or regular mail are scanned with AutoStore to automatically categorize and assign them. After review for quality control, the now-digital forms are permanently stored in the database.
MHA has simplified their communication processes to allow pharmacies to save money on their purchases, attracting additional business. MHA itself operates more efficiently and can also mine valuable information for their own use and for industry-wide projections.
FineStar Imaging LLC has been in the document management industry since 1987, and serves healthcare, legal, and other organizations where document management is critical to profitability and to customer service.
As a member of the Healthcare Industry Resource Group LLC (http://www.hirgny.com) since 2004, FineStar Imaging keeps its fingers on the pulse of the healthcare community and their document management needs, covering the New York and tri-state areas. FineStar Imaging, along with HIRG, are dedicated to improving the efficiency and effectiveness of healthcare organizations.
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