Services Available at 2.9% Collected Revenue, Including eClinicalWorks Comprehensive Electronic Health Records Solution and eClinicalTouch for iPad
eClinicalWorks, a leader in ambulatory healthcare IT solutions, today announces that eClinicalWorks has signed 1,000 providers to its Revenue Cycle Management (RCM) service during the first six months of 2013 and is projected to reach $100 million in revenues by 2015. This service is available for 2.9% of monthly collected revenue and also includes the complete electronic health records (EHR) suite by eClinicalWorks, on-site training as well as 24/7 customer service.
“After our biller retired, we spent a long time looking for the right solution for our practice and saw eClinicalWorks could optimize our billing in addition to handling our claims more efficiently,” said Dr. Richard Brodie of New England Baptist. “Only a few months of using RCM have increased our first-pass acceptance rate to about 99%. Our accounts receivable is great and there is more complete reporting. Life has been so much easier since we started using eClinicalWorks RCM, giving us more time to take care of other areas of the practice, including patient care.”
Automated claims scrubbing tools within eClinicalWorks produce an independently-verified 98% average first-pass acceptance rate, resulting in more claims being accepted by the insurance payer without rework. The Medical Group Management Association estimates that physician practices incur rework costs of approximately $15 per claim that is rejected. By improving first-pass acceptance rates, physician practices can dramatically improve financial performance.
“2.9 percent is much lower than the industry average,” said Girish Kumar Navani, CEO and co-founder of eClinicalWorks. “At this rate, we are able to assist healthcare organizations in realizing more revenues faster. We are highly encouraged by the overwhelming response we have received, including by providers that were using different revenue cycle management solutions.”
Benefits of eClinicalWorks RCM include:
• eClinicalWorks Comprehensive EHR Solution—EMR, practice management, Patient Portal, interoperability, on-site training, support and maintenance;
• Visibility—dynamic dashboards and comprehensive reporting tools;
• Control of finances—2.9% charged on collected revenue and checks go directly to the practice;
• Fast Account Receivable—98% first-pass acceptance rate due to real-time claim adjudication, built-in claim automation, and six levels of clearinghouse integration; and
• Access to eClinicalWorks Billing Experts—these personnel look for payer and state incentives, conduct predictive financial analytics and evaluate reimbursements.