Large Faculty Practice Plan Extends Utilization of Pro Charge Capture to Support ICD-10, Provide Workflow Efficiency Through 2017
BOSTON, Oct. 11, 2012 /PRNewswire/ — MedAptus®, the market leader for charge capture technologies, today announced that longtime customer University Physician Associates of New Jersey, Inc., (UPA), recently signed a five-year contract renewal for the company's Professional Charge Capture (Pro) software. UPA initially signed with MedAptus in 2003 to support electronic, mobile and compliant capture of physician charge data across more than 30 medical and surgical specialties. The renewal of UPA's relationship with MedAptus allows UPA physicians and administrative staff to continue capturing and managing professional charges during and beyond the upcoming industry transition to ICD-10.
UPA, the faculty practice plan of the New Jersey Medical School (NJMS), provides billing and administrative support to approximately 400 providers at NJMS with the goal of promoting and fostering the clinical activities of NJMS faculty members. UPA additionally works to ensure that generated revenue supports the mission of NJMS in post-graduate, undergraduate and public education; advances the body of knowledge in both the clinical and basic science of medicine through research; and, offers patients state-of-the-art, competent, compassionate and cost-effective medical care.
UPA first adopted the MedAptus Pro tool in order to re-engineer paper processes and improve the overall revenue cycle related to professional billing activities. Shortly following its MedAptus implementation, UPA undertook a financial benefit analysis which revealed that days-to-billing decreased by over 50 percent and total charges increased by 25 percent. The net result of these changes was a one-time cash infusion of over $13 million from the charge lag reduction and an ongoing annual benefit of nearly $7 million.
UPA's use of the MedAptus solution has evolved significantly over the course of the past decade. A key advantage for UPA has been MedAptus' continuous innovation related to system interfacing. MedAptus currently integrates inbound visit, demographic and ancillary charge data from five different source systems that include offerings from McKesson, Epic, GE Healthcare and Cerner.
"MedAptus has been an exceptionally strong partner these past ten years. Even though many things have changed since we first engaged, including the emergence of electronic medical records technology, we continue to rely on MedAptus to help optimize our revenue cycle and drive bottom line performance. The Pro Charge Capture software has been a very effective tool in ensuring coding compliance and we see the importance of the MedAptus solution within our workflows only increasing with ICD-10 approaching," said David Haier, director of business development at UPA. "Given MedAptus' commitment to our success and responsiveness to our needs, extending our relationship was an easy decision. And as we embark on this next phase with MedAptus, we look forward to rolling-out more of the system's functionality – things like additional performance reports, custom rules and the Rounding List feature – as well as additional interfacing to support the capture of consult charges stemming from computerized order management."
"Working with UPA these past years has been extremely rewarding to MedAptus because of the organization's sophisticated and innovative application of our Pro product. For example, a few years ago, UPA encouraged us to develop an approach for integrating professional charges captured or initiated in third-party systems into our Pro solution for review and reconciliation. While this was novel several years ago, it is now something we do on a regular basis. The physician leadership at UPA has also been instrumental in helping us enhance our anesthesia charge capture module and improve mobile functionality. They are a tremendous asset to us and we are excited about continuing our relationship into the future," said Rick Little, vice president of client services at MedAptus.
About MedAptus
MedAptus is the Gold Standard in the healthcare revenue cycle for achieving effective charge management, compliance and workflow efficiency. With offerings that include powerful and easy-to-use charge capture and management technologies, it is no wonder that many of the nation's most prestigious healthcare organizations rely on MedAptus for financial optimization. Our full-scale Professional, Facility and Infusion applications increase revenue, enhance EMR investments, re-engineer manual processes and yield substantially improved productivity. For more information, visit www.medaptus.com or call 617.896.4000.
MedAptus Contact: Jennifer Crowley
p. 617.896.4030
Email