Faster payment. Fewer headaches. Find out how with athenahealth!
Posted June 21, 2007
The Iowa Medical Society has partnered with athenahealth to offer our clients the industry's leading billing, practice management solution, athenaCollectorSM. IMS Members are entitled to a 6% discount on athenahealth services.
Athenahealth is a provider of web-based services and software that uses a claims engine to catch and correct billing errors before they are submitted in claims and lead to denials. The results can increase collections, produce faster reimbursement cycles and reduce administrative headaches for physician practices.
Athenahealth offers many benefits not commonly found in other practice management and EMR software solutions:
- proprietary payer knowledge, including the largest real-time database of payer rules and regulations in the industry (and this is updated constantly and shared by all clients)
- ability to prevent claims denials by writing rules specifically designed for each practice
- ability to identify noncompliant payer behavior, including violation of prompt payment statutes
- ability to compare financial performance of individual areas within a practice and to benchmark performance against other practices
In addition to helping individual practices, athenahealth will share state-specific claim data with the IMS that will help the medical society substantiate and resolve problems with payers.
The Wall Street Journal article says it best:
Reporter Vanessa Fuhrmans begins her article by talking about Paluxy Valley Physicians of Glen Rose, Texas. This six physician clinic was struggling to recover more than $500,000 in denied or unpaid claims from insurance companies.
To save their practice, the physicians hired athenahealth, one of the largest companies helping physicians recoup payments from insurers.
Clinic administrator Shari Reynolds was quoted as saying, "The insurers outcode us, they outsmart us and they have more manpower," she said. "Now at least we have a fighting chance."
Wall Street Journal, February 14, 2007, page A18
Practices can face an array of operational challenges. Constantly changing payer rules make it time-consuming for your staff to keep up. Lost and denied claims significantly impact your practice's income. Lack of accurate data leaves you at a disadvantage during planning and payer negotiations. athenaCollector helps you solve these challenges. athenahealth offers the industry's leading approach to billing and practice management - combining award-winning software, the country's largest database of payer rules and a state-of-the-art billing and collections center like no other. The result? Significantly improved financial and operational performance for your practice.
www.athenahealth.com/ims
The athenaCollector Advantage
With athenaCollector, you realize immediate and measurable results. You can:
- Improve collections per physician
- Reduce days in accounts receivable
- Increase staff productivity
- Decrease the rate of lost and denied claims
- Gain radically better insight into practice financials and physician performance - and drive improved profitability
Want to learn more about athenaCollector?
View the athenahealth
online tour
Read the athenaCollector
datasheet
Interested to hear how other
athenahealth clients have benefited from athenaCollector? Read what
Triangle Orthopaedic Associates, P.A. had to say.
Improve Practice Performance
Don’t miss this opportunity to find out how medical practices thrive in today’s complex healthcare industry.
Register for athenahealth’s online seminar Improve Practice Performance by Leveraging athenahealth’s Network, on March 26th.
Software is not the answer to your billing, practice management and medical record struggles – it’s all about network-based services. And athenahealth will show you how your practice can benefit from a network-based approach enabling you to:
- Reduce costs and receive regular upgrades without service interruption
- Benefit from real-time connectivity for improved operations and continuous access to data no matter where you are
- Take advantage of collective intelligence for better profitability
- And so much more!
Register for this complimentary Webinar delivered by Susan Nix, former professional reimbursement and managed care director of an orthopaedic practice and current Senior Client Services Manager at athenahealth. Susan will outline the network features that improved her practice’s operations and that continue to improve her clients’ practices’ performance on a daily basis.
Join us on
Wednesday, March 26th at 11:15 a.m. CT to discover the advantages of athenahealth’s network-based services including billing, practice management and EMR.
A Webinar presented by athenahealth
Wednesday, March 26, 2008
11:15 a.m. CT
REGISTER NOW
Practice Benchmarking
athenahealth's unique Practice Diagnostic Tool allows you to benchmark the health of your practice
Did you know you can easily benchmark the success of your practice? athenahealth's
Practice Diagnostic Tool allows you to measure your practice's success as compared to other practices utilizing athenahealth.
Simply, visit the athenahealth's Practice Diagnostic Tool. Enter a few key practice data points and the tool will run a report comparing your practice's data against the data from other practices also using athenahealth in your specialty, regionally or nationally.
In February 2006, the tool was featured in the Physicians Practice magazine article, "Practice Management Lab: Start your Practice's Overhaul Here." The article cites three situations in which practices typically lose money. Correcting these situations may allow you to improve your practice's success:
- Failing to file claims promptly - For every day a claim languishes in the office instead of being submitted to a payer, it loses an average of 0.6% of its value.
- Failing to appeal "zero-pay" claims - Each month up to 4% of charges are marked "paid" by the payer, but the payment is actually zero dollars. The article states that 70% of these "zero-pay" claims can be successfully appealed.
- Failing to check eligibility - Claims that are denied for reasons related to eligibility (for example, service not covered, wrong insurer) take 20 to 50 days longer to pay than clean claims.
To try out athenahealth's new Practice Diagnostic Tool and see how your practice is doing, visit:
www.athenahealth.com/diagnostic
Practice Management Resources
The Financial Ailments of a Physician's
Practice:
Treating Symptoms Ignores the
Condition's Root Cause.
This white paper discusses switching from software to a Service-Based Approach
to Nurse Medical Practices Back to Financial Health
Webinars - Archived
View at Your Convenience
Newsletters
The athenaPulse Newsletter is a monthly electronic newsletter designed to inform clients and prospects alike of the benefits of athenahealth's physician revenue and clinical cycle management offering, which integrates web-based practice management and EMR software. Through athenaPulse, you'll learn how athenahealth is tackling the nation's convoluted claims processes, helping you to collect more of your money with less hassle. athenahealth, an IMS partner, continues to make great progress in this area. To subscribe now, click here:
http://www.athenahealth.com/newsletter/subscribe.php.
