200 percent growth over the past three years
BOSTON--(BUSINESS WIRE)-- PatientKeeper®, Inc., the leading provider of physician information technology, today reported that its customers are processing more than 10 million physician charges each year with its PatientKeeper Charge Capture™ application.
In addition, the company announced one new and three expanded PatientKeeper Charge Capture installations at regional medical centers around the U.S. Memorial Health System of Springfield, Ill., became a new customer, while existing customers Alegent Health of Omaha, Neb., Boston Medical Center and the Robert Wood Johnson Medical Group of New Brunswick, N.J. expanded their use of PatientKeeper’s offerings.
According to PatientKeeper data, PatientKeeper’s charge capture system is used to collectively process more than 10 million charges each year. This is three times more than in 2006. PatientKeeper also reported that the number of physicians using PatientKeeper Charge Capture has been growing at a 25 percent annual rate.
PatientKeeper officials attribute the sharp rise in charge capture usage to a growing need among healthcare providers seeking to further automate and integrate revenue cycle management processes within their organizations.
“Millions of dollars every year are lost due to manual, paper-based or inefficient charge capture processes,” said Paul Brient, CEO of PatientKeeper. “The increase in demand for our charge capture solutions is proof that hospitals and physician groups alike are solving this problem with tools that help their physicians. We anticipate continued demand for PatientKeeper Charge Capture based on the clear ROI it creates and time it saves for both physicians and billing staff.”
As dollars become tighter, health care providers are increasingly turning to automated billing workflow solutions to save money. Hospitals depend on these solutions to increase revenue and cash flow through more efficient charge capture and smarter coding. While charge capture is important to the financial well-being of any health care system, much of its effectiveness is based on its seamless automation within physicians’ daily workflow.
“The challenge for our physicians has been to look at billing practices as an opportunity for revenue optimization,” said David Graham, MD, Chief Information Officer of Memorial Health System. “We chose PatientKeeper Charge Capture for our physicians because of the opportunity to automate billing while saving time without disrupting the daily practice of medicine.”
“After a very successful initial implementation of PatientKeeper, we experienced a 29 percent increase in charge volume in comparison to the same seven-month time period last year with equal visit volume,” stated Kevin Casey, administrative director for the Department of Family Medicine at Boston Medical Center. As a result of the success of the Family Medicine and General Medicine deployments of PatientKeeper Charge Capture, Boston Medical Center is considering further expanding its use of PatientKeeper software to other departments within the organization.
PatientKeeper Charge Capture is the core application in the PatientKeeper Financial Suite of applications that allows healthcare providers to automate billing workflow without replacing existing IT systems. Electronic charge capture can increase revenue and cash flow in months, improve billing operations and eliminate paper inefficiency to ensure that every charge gets submitted. Further, it reduces charge lag, eliminates rework and improves coding compliance, generating substantial and rapid ROI for the practice. PatientKeeper’s solution provides flexible access from both PCs and mobile devices that are configurable to the user level. Additionally, it sends automated code alerts that only fire to the physicians that need them, affording automated billing workflow that easily fits their individual work style.
For more information on PatientKeeper’s Charge Capture Solutions visit: http://www.patientkeeper.com/products/financial_applications/charge_capture.html
PatientKeeper Inc., the leading provider of physician information technology, works with hospitals and physicians to deliver solutions that drive efficient operations and a higher standard of patient care. PatientKeeper’s unique technology provides a single, secure view of patient information coupled with comprehensive physician workflow applications without replacing applications already in use. The company boasts the industry’s highest physician adoption rates and delivers solutions that ensure HITECH meaningful use criteria is met while delivering demonstrable ROI for hospitals, physician organizations and community health information exchanges alike. For more information about PatientKeeper, headquartered in Boston, Massachusetts, visit www.patientkeeper.com or call 617-987-0300.
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS: Technology Data Management Networks Software Practice Management Health Hospitals Mobile/Wireless General Health