staying independent (3-6-14)
TRANSCRIPT
Jeff A. Drasnin, MDPresident, ESD Pediatric Group
Cincinnati, OH
Taking a practice from surviving to thriving…It’s All About the
Technology
Here is how we did it…
… and continue to do it.
How to remainindependent and profitable…
…in an ever more challengingeconomic environment
Running a Medical Practice is a Messy, Complicated Business
• Schedule visit• Run eligibility inquiry• Send reminder call• Collect co-pay via
credit card or e-check transaction
• Ask about P4P-related clinical protocol measure
• Document visit• Order prescription• Order lab order• Send referral• Order Immunization• File with state
immunization registry• Send claim to payer• Submit pay for
performance report• Receive lab results• Notify patient of lab
results on patient portal
• Receive consult note• Receive EOB from
payer• File appeal if claim
denied• Post payment from
payer• Pay outstanding
balance via web portal
Based in Cincinnati, OH 5 physicians, 3 nurse practitioners 2 office locations (city & suburban) 2,500 patient visits per month, 10,000 patient
panel Went live on the cloud-based athenanetwork in
2007
About the ESD Pediatric Group
How we got into trouble… Moved to outsourced billing once it was we realized we
couldn’t keep pace in a changing economic environment.
Initial vendor did not provide transparency.
We completely lost control of our collections and had no idea of what money was coming in.
Collections were inconsistent leading to severe cash flow problems.
Claims were being written off or not collected per contract.
Significant time was being spent by office staff and management to keep the office afloat.
These energies took time away from other important tasks.
Someone has to have your back. Finding the right technology provider makes all the
difference.
Trust. Transparency. Value. Partnership.
Goal: Focus on what you do best. Get help in areas that are a challenge.
Must be forward thinking. Where is the future taking us?
Perf
orm
an
ce &
vis
ibilit
y
High
High
Connection to Outcomes
Software
ASP
SaaS
Cloud-Based
Service
The Cloud offers a low-cost, low-risk strategy for independent
practices
The Cloud
CONFIDENTIAL - Not for distribution without written permission.
Control Revenu
e
Integrate
Clinical Systems
Synergistic
Success
Success: one step at a time
Why is a “cloud based service provider” worth considering?
No need to upgrade. When network upgrades, you are upgraded.
Safety and redundancy. No worries about loss of data.
Integration with other data available on the web (clinical and administrative).
Ability to distill data in different forms (desktop, laptop, tablet & smartphone).
Reporting capability (P4P, PCMH & Meaningful Use)
Choosing the right vendor allows a small practice “look bigger”.
Competitive advantage. (ICD-10, network knowledge/rules engine, help in interpreting data)
MEASURABLE RESULTS
DAR went from 45+ days to 16-18 days
60% increase in collections
11% decrease in no-shows
Physician compensation up significantly
Practice growth year over year of 10%
Steady cash flow
“2013 Best in KLAS Awards: Software & Services,” January, 2014. © 2014 KLAS Enterprises, LLC. All rights reserved. www.KLASresearch.com
athenahealth 2013 Best in KLAS
#1 Overall
Software Vendor
#1 Overall
Physician Practice Vendor
#1 PatientPortal
#1 Practice
Management System
(1-10, 11-75 physicians)