Software Enables Providers to Leverage Their Data to Identify Areas for Improvement and make Informed Business Decisions
(Little Rock, Arkansas – January 10, 2017) – MedEvolve, Inc., a national provider of specialty-specific practice management (PM) and revenue cycle management (RCM) software and services, announced today the release of MedEvolve Practice Analytics. The solution gives specialty practices web and mobile access to important financial, operational and clinical information which provides the insight necessary to improve their overall performance.
All providers are using an array of software solutions that capture data. The key to streamlining a practice’s operations and optimizing financial performance is the ability to identify issues and trends contained in that data. This can be done manually through datamining, but the easiest and fastest way to gain this insight is through a business intelligence solution, like MedEvolve Practice Analytics. With an array of proprietary Key Performance Indicators (KPIs) and algorithms, clients can spend less time trying to mine data to find opportunities and more time designing the action plans required to achieve immediate results to their bottom line.
“MedEvolve’s RCM team needed a way to quickly gain visibility into our clients’ data to uncover the obstacles that are impacting their businesses, so we developed our own analytics software to complement our existing solutions,” said Matt Seefeld, SVP of Business Development at MedEvolve. “It will not only help our RCM team maximize returns for our clients who use these services, but it will also benefit any specialty practice that requires access to data and information to help them win the ongoing battle with regulatory and reimbursement changes, along with the overall daily challenges of protecting revenue.”
Most of the healthcare analytics solutions available today were designed for hospitals, health systems and large group practices. In many cases, these solutions cannot effectively scale down to meet the needs of an independent specialty practice, and they are certainly not priced for one. MedEvolve’s new analytics software was specifically designed with the specialty physician practice in mind. The mobile version will put the answers providers need to stay on top of their practices in a medium that is easily accessible and readily available 24 hours a day.
MedEvolve Practice Analytics is a cloud-based solution that provides highly engaging web and mobile experiences and gives providers quick access to dashboards and reports which display the business-driven KPIs specialty practices care about most. Providers can proactively view the current state of their revenue, including denials, underpayments, productivity, recovery initiatives and appeals activity. Other screens will give visibility into patient appointment trends by provider, service and location to discover opportunities for schedule optimization. The incorporation of market-leading benchmarks helps clients understand how they compare to like practices.
“We are excited to announce the release of our specialty-specific analytics solution, which will help practices run faster, more efficiently and more effectively,” said Mike Schiller, President and CEO of MedEvolve. “Our clients are faced with enormous financial and operational challenges in today’s healthcare environment, including declining reimbursements and the need for cost reduction initiatives, and MedEvolve Practice Analytics will deliver the insight they need to overcome these obstacles.”
MedEvolve enables specialty practices to work faster and more accurately through Practice Management (PM) and Revenue Cycle Management (RCM) software and services that result in quicker payment processes and improved patient and staff experiences. Additionally, with MedEvolve Practice Analytics, specialty practices gain a new level of insight that helps them identify problem areas and resolve issues quickly to improve financial, operational and clinical performance. Our unique Practice DNA consultative approach ensures our solutions fit with our client’s existing processes so they begin to see positive results from day one. Visit www.medevolve.com to learn more.
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