Multi-Specialty Medical Group Partners with MediSync to Recover $1.5M in Physician Revenue
CINCINNATI (PRWEB) June 28, 2018 -- MediSync is pleased to announce case study results for its E&M CodeRight product in uncovering significant lost revenue for a large, East Coast multi-specialty medical group.
MediSync partnered with a newly appointed medical group CEO to address the changing environmental dynamics impacting E&M documentation and revenue integrity that resulted in financial, clinical, and operational risks. Physicians sited ongoing confusion and conflicting answers regarding EHR implementation, required documentation and resulting code assignments. The results for the group were a lack of provider confidence, inconsistency in documentation, and revenue challenges.
The CEO’s proactive approach to utilize the MediSync solution led to a recovery of $14,000 per physician, for a total of $1.5M in physician revenue recovered during the first year. Additionally, the group realized a 255% ROI in the first year, with a projected second-year ROI of 611%. The initial investment was paid back within 3.4 months.
E&M CodeRight Initial Evaluation and Implementation
The E&M CodeRight initial evaluation showed a wide variation in the application of E&M codes across the group’s primary care physician population. Providers did not follow a clear or consistent process for documentation and coding assignments. For this group’s size and structure, MediSync’s licensed physician educator delivered three 90-minute small group sessions focused on providing physicians with a consistent methodology to align patient encounter notes with appropriate codes. The goals were simple: reduce coding errors and give providers some of their time back.
Once implemented, the new methods resulted in material improvements for both revenue integrity and physician efficiency. Providers openly expressed that they wished they had utilized MediSync’s physician-to-physician approach years ago. The group saw immediate, measurable improvement in accuracy, provider confidence, and revenue recovery as each doctor applied the E&M CodeRight methodology.
E&M CodeRight’s Continued Record of Success
E&M CodeRight has been implemented with more than 150 medical groups nationwide with more than 16,000 physicians completing the program. The physician-designed and led protocol provides personalized instruction in refining coding skills to ensure every patient visit is fully and accurately documented, resulting in maximized reimbursement for the practice.
About MediSync
The medical group is at the forefront of healthcare transformation—MediSync’s expertise and sole focus is medical group performance, and they have helped over 150 leading medical groups across the nation achieve their goals.
The MediSync Approach:
- Deep medical group industry expertise acquired from 20+ years of experience of leading and operating large medical groups
- Significant investments of time and resources in transformational innovation, thought leadership, and research and development aimed at helping medical groups perform better
- Focused on quality and process excellence including a commitment to Lean Six Sigma and proven, real-world systems that achieve and sustain nation-leading results
- Committed to medical group leadership and culture development through results-driven change management disciplines and methods that maximize performance
For more information on E&M CodeRight and MediSync’s full range of Medical Group Operations services, please contact:
Name: Brian Gravitt
MediSync: http://www.medisync.com
Title: Vice President, Sales and Marketing
Phone: 844-801-1761
Email: [email protected]
Brian Gravitt, MediSync, http://www1.medisync.com/pr, +1 844-801-1761, [email protected]
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