Concord, MA, June 23, 2004 - Gantry Group recently completed a report documenting the economic benefits that resulted from the deployment of the Charges In HandTM mobile coding solution from MedAptus, Inc. -- the leading provider of mobile point-of-care solutions for physicians -- at Bridgewater Goddard Park Medical Associates (BGPMA). The multi-site, multi-specialty physician practice group in southern Massachusetts implemented Charges In Hand in late 2003, which led to an increase in annual net collections of $20,000 per physician, an increase of nearly 12% of net collections per patient encounter.
This financial benefit, demonstrated in a recent quantitative study undertaken by both BGPMA and MedAptus, is the result of Charges In Hand's ability to help improve coding accuracy and efficiency, as well as increase the average number of charges collected per service encounter. The co-study demonstrating the various financial benefits realized by BGPMA after implementing Charges In Hand compared data for services provided in a six-month period prior to the MedAptus deployment with data for a six-month period post-deployment, obtained from a pilot group of physician users across various specialties. Study results are published in a Gantry Group report entitled "A Case for Mobile Charge Capture: Study of the Large Multi-Specialty Group Practice".(A copy of this report can be obtained by calling Gantry Group at 978-371-7557 ext 12.)
"Analysis of the data generated by the study revealed that BGPMA gained an immediate reduction in the time-to-billing lag, decreasing it from 3-4 days to current. This created a one-time release of cash that would otherwise be tied up in accounts receivable," said Dawna Paton, a managing partner at Gantry Group and author of the report. Other financial benefits included:
- Greater efficiency of charge capture/billing administration
- Improved coding accuracy/li>
- Increased average net collections per encounter
- Increased number of service charges captured per encounter
Even though the healthcare industry is well aware of its dependence on information, much investment in information technology has been in disparate systems that cannot integrate information across business processes. Instead, these 'islands of data' have been reinforced by discrete applications, creating gross inefficiencies and leading to poor return on investment (ROI) and continued reliance on paper-based systems.
Using the Charges In Hand mobile solution, physicians quickly code and document patient encounters into their PocketPC™ device running the application, using custom lists of frequently used procedure and diagnosis codes. Selected codes are then audited for appropriateness by MedAptus' rules and compliance engine, prior to being sent from the physician's PocketPCTM device to, at BGPMA, its billing system. This electronic charge transfer, in conjunction with facilitated code review, allows for both expedited and clean claim creation.
As part of its research, Gantry Group found multiple areas of return on Developer Suite investment from the customers surveyed:
BGPMA first engaged with MedAptus, Inc., in late 2002, with the dual objectives of increasing efficiencies and achieving cost control and containment. Concerned by labor intensive manual processes that were creating lags between patient encounter and claim generation, BGPMA believed that Charges In Hand, a charge capture solution designed to support coding and compliance at the point-of-care, would improve both time-to-payment measures as well as cash flow.
"BGPMA chose MedAptus' charge capture product to enhance revenue, reduce costs and increase our efficiencies through the use of technology. We also felt that Charges In Hand would improve our ability to manage patient information and facilitate practice compliance as well," stated Deb Wilson, executive vice president, BGPMA. "Our practice will eventually adopt an EMR and we believe the implementation of Charges In Hand was the best approach to introducing technology to the physicians." Wilson also added that BGPMA largely credits the success of its MedAptus implementation to the easy-to-use and intuitive design of Charges In Hand, which spurred 100 percent adoption in less than 12 months.
About Gantry Group
The Gantry Group is the only management consulting firm specializing in technology ROI. The Gantry Group's ROI impact analyses are validated by primary market research to ensure accurate capture of the real value drivers and costs. With over 200 technology clients, 3,000 business process interviewers and profiles in their knowledge base, and more than 1,000 ROI business processes and value drivers modeled, Gantry offers its clients the greatest depth and breadth of ROI experience and invaluable objectivity. Since 1997 Gantry Group has provided ROI Calculators, Benchmark Studies, White Papers, Case Studies and ROI Sales Training Materials for hundreds of technology companies in healthcare, financial services, mobile/wireless and business process optimization. Gantry Group's client list of technology vendors includes leading IT vendors such as PeopleSoft, McKesson Health Solutions, Thomson Media, palmOne, Xerox, Politzer & Haney, and Best Software. For more information on The Gantry Group and the services we provide visit www.gantrygroup.com
About MedAptus Corporation MedAptus, Inc. is a healthcare information technology company providing point-of-care solutions for physicians. MedAptus provides clinicians with a comprehensive suite of workflow and revenue enhancing solutions including patient management, charge capture, dictation and clinical content. MedAptus' flagship application, Charges In Hand™, allows physicians to document professional charges at the point-of-care. The use of Charges In Hand™ increases efficiency, reduces the lag time between professional services and claim submission and improves compliance with billing regulations. Additional clinical solutions are under development to augment the suite and create a unified mobile and web-based offering. MedAptus can be reached via www.MedAptus.com or email to info@medaptus.com, or by calling 617-523-1221.
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