Page 35 - Company Newsletters

ABT NEWS
QUARTERLY NEWSLETTER January 2014
Architecting document control systems for healthcare providers and pharmaceutical companies
ROI - The New Revenue Cycle Opportunity for Providers
Managing revenue is crucial for every business—and it is also the basis of opportunity. In healthcare, Provider organizations view revenue cycle management as a key initiative in light of ever compressing revenues. Ironically, Providers are ignoring one of their most readily available revenue sources—the potential cash flow derived from Release of Information (ROI) fulfillment activity. Providers either process ROI requests in-house without any tools to generate correct invoicing and automate fee collection or they outsource the ROI process to a third-party ROI service company,
thereby forfeiting all ROI revenue to the outsource service company. Most Providers are shocked to learn how much profit their ROI outsource service companies reap by using the Provider’s own PHI assets. One orthopaedic clinic was surprised to learn they were forfeiting over $17K per month, while a major university hospital was stunned to discover they were forfeiting over $2.5M per year. HIM managers are the gatekeepers for ROI processing but, unfortunately, they are not rewarded for recapturing or maximizing ROI fee-based revenues for their organizations. Providers using ABT’s ROI+ automated fulfillment platform generated over $2M in new revenues from ROI processing in 2013. With most Providers working on 2% to 4% margins, that $2M in found ROI revenue translates into $50M to $100M net new top-line revenue. That formula is what makes ROI such a strong revenue cycle initiative for Providers.
~ Stephen Manske, CEO
ROI Fees Under Assault
ROI fees are set by individual state statutes. These state statutes are passed by legislators, who are mostly lawyers by trade. Couple this with the fact that legal entities comprise almost 25% of all ROI requests sent to Providers and 41% of all ROI fee dollars paid to either Providers or third-party ROI outsource service companies, and you can easily understand why there is such a concerted effort by state legislators as well as legal and insurance lobby groups to drive ROI fees lower. In 2013, the Department of Texas State Health Services proposed a reduction of Physician ROI fees from
$25 for the first 25 pages and $.50 for each additional page to $25 for the first 500 pages. This would represent a dramatic 88% fee reduction for processing 500 pages. Physicians and physicians groups are under revenue compression assault from the government and insurance companies. The good news is ABT’s ROI+ gives Providers the efficiency and automation needed to maintain ROI fulfillment processing as a profit center, even as ROI fees continue to compress downward. ~ Sam Harrison M.D., Chief Medical Officer
ABT Meets Meaningful Use
Centers for Medicare and Medicaid Services (CMS) will drop three Stage 1 Meaningful Use reporting criteria and replace them with a core requirement for Patient online access to medical records. CMS’s goal is to transform the Release of Information (ROI) process from labor-intensive and paper- based to electronic and paper-free. The specifics are as follows:
• Provide patients the ability to view online, download, and transmit their health information within 4 business days of the information being available to the Eligible Professional.
• Provide patients the ability to view online, download, and transmit their health information within 36 hours of discharge from Hospital.
“ROI+ provides us with a ready-made solution for meeting Meaningful Use core and menu set requirements for providing electronic information to patients in a secure manner without investing in a patient portal.”
Tom Walker, MHA, CMPE
ROI+ Dashboard
ROI+ has incorporated a new graphical Dashboard for Processing and Accounts Receivable information. The Dashboard provides an instant assessment of ROI activities.

Central Texas Heart Center
Angela Ford
aford@abtmedinc.com
Page 1 of 2 www.abtmedinc.com