Billing IT: Evolution or Revolution? March 28, 2019 Medic Management Group The Future Will See You Now: Presented by: Karen Zupko March 28, 2019 What’s next for the Physician Practice
Billing IT: Evolution or Revolution? March 28, 2019 Disclosure: Karen Zupko is a consultant for Care Credit. She has no other financial relationships with firms in the presentation. Presented by: Karen Zupko
www.karenzupko.com 3
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What is your primary title? ENT ORTHO Answer Options Response Percent 22% 24% MD/DO 1% 2% NPP (PA or NP) 27% 18% Practice Administrator or Office Manager 14% 12% Billing Manager 12% 6% Billing Specialist 9% 17% Coder / AAPC Member (CPC) 15% 21% Other 6
On a scale of 1 to 5, how would you rate the practice's use of modern payment technology? ENT ORTHO Answer Options Response Percent Steve Jobs would be proud of us! Tech 7% 6% super-users. 29% 23% We are headed to #5 this year. 51% 52% Getting there... gradually! 10% 13% Our technology holds us back. 1% 3% Tech-resistant staff slow us down. We still photocopy. We aren't on ERA + 2% 3% EFT for many payors. 7
OUTDATED PROCESSES MID ‘90s MIND SET ANTIQUATED TECH 8
Staff Resistant or Incompetent? 9
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Which modern payment technologies are used in your practice? ENT ORTHO Answer Options Response Percent Batch eligibility verification 47% 44% ERA 64% 57% EFT 79% 71% Online claim estimator 31% 24% Recurring payment (automated, on a credit card) 37% 46% Online bill payment 47% 59% Automated appointment reminders 52% 55% Other 8% 10% 12
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Do you offer a patient portal where patients register online? ENT ORTHO Answer Options Response Percent Yes 58% 57% No 32% 25% Not yet but in the process 7% 9% I don't know 6% 9% 15
If yes, what percentage of new patients would you estimate use the portal to register? ENT ORTHO Answer Options Response Percent 0-20% 40% 44% 21-40% 31% 21% 41-60% 8% 16% 61-80% 9% 3% 81-100% 2% 4% Other 9% 12% 16
If you use a portal to register patients, which features other than registration do you offer? ENT ORTHO Answer Options Response Percent Appointment request/scheduling 52% 54% Messaging 57% 71% Test results 39% 46% View medical record 49% 61% Complete their health history 49% 49% Online bill pay 47% 61% Other 8% 5% 17
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Are patients pre-registered into the computer system prior to their appointments? ENT 69% Yes 19% No 12% I don't know 0 20 40 60 80 100 20
No Pre-Registration No Insurance Verification AR Issues 21
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Cards On File Tame the Paper Dragon Scan it! 23
Scan IDs & Ins. Cards 24
Doctors Waiting On Form Completion Expensive Only 49% offer the ability to complete health history 25
47%-61% offer it! 26
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Ways KZA Staff Makes Payments/Pays Bills YES NO Online 100% 0% By Check 45% 55% Credit Card 45% 55% Debit Card 45% 55% Apple Pay 0% 100% 29
Are no-shows a problem in your office? ENT ORTHO Answer Options Response Percent Yes 55% 54% No 45% 46% 30
No Shows Are Pick Pockets 31
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Does your practice offer telemedicine/virtual visits? ENT ORTHO Answer Options Response Percent Yes 7% 6% Not yet, but we are 14% 22% considering/discussing it Not yet, but we are actively 7% 2% evaluating vendors No, and we do not plan to, at 73% 70% least for the foreseeable future 36
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With Insurance It’s A Fight 40
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REINVENTING REVENUE CYCLE MANAGEMENT → TO… FROM A RCM POWERHOUSE THAT IS: Ø REACTIVE Ø ENABLED BY A.I. Ø POWERED BY RPA AND Ø PEOPLE INTENSIVE OTHER ADVANCED Ø ANALYTICS-LIGHT TECHNOLOGIES Ø FOCUSED ON A PROACTIVE Ø BACK-END HEAVY FRONT-END OPERATION Ø INHERENTLY MANUAL Ø REAL-TIME INSIGHT 48
Thank you Presented by: Karen Zupko, President www.karenzupko.com 312.642.5616 information@karenzupko.com connect with us
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