Bureau of Labor statistics project that physician offices will experience significant job growth over the next decade, in clinical, administrative and technological staff ; however given stagnant or declining revenues, there is concern that paying for additional staff will be challenging.
Enter MDeverywhere, a leader in physician revenue cycle management currently serving over 2,500 physicians in more than 60 specialties practicing in solo, group and large faculty practices nationwide. Founded by President David Fetterolf in 1995, the company executes a unique integrated solution that includes web-based practice management software, expert systems, and best-in-class medical billing services to meet challenges of a vastly complex medical practice landscape.
“Our comprehensive medical billing services include claim submission, electronic eligibility verification, payment posting, claim follow-up, denial management, insurance rule creation, insurance contract definition, appointment reminder calls, patient recalls and more all designed to increase your practice revenue,” he explained.
According to Fetterolf, MDeverywheres Palm and web-based charge capture software corrects coding and demographic errors up-front to eliminate denials and improve payables due to a knowledge base that includes a rules engine with 15 million payor specific rules.
“In addition to real-time triggering of potential coding errors, our team reviews and constantly monitors payor contracts to update terms, fees and reimbursement rules to identify underpayments and appeal appropriate claims resulting in an average of 7% payment increase via successful re-negotiation,” Fetterolf said.
Fetterolf points to knowledge-driven systems and best-in-class services as a predictor of increased practice revenues and decreased need for administrative personnel to manage accounts.
“There is no doubt that billing is a complicated process and our experts can provide on-going reliable revenue procurement service that is light-years ahead of any system a practice can afford to perform in their office environs. Additionally, all data is securely protected on a server in a host center trusted by banks and other financial organizations,” he said.
Another issue that physicians cite more and more is a yearning to balance 12 hr work days with family, recreation, professional development or volunteerism. In fact, surveys show that physicians – men as well as women – routinely respond positively to questions asking if they seek greater work-life balance.
Mental health experts claim that coupling an unmanageable practice schedule with an out-of-control home life can lead to depression, poor performance at work, conflict with family and a feeling of career burnout pressing physicians to question whether to stay in medicine at all.
MDeverywheres web-based Practice Management software includes scheduling, registration, Palm based charge entry, payor contract modeling, eligibility verification, scanning & image retrieval, patient ledgers and management reports.
In addition to basic modules, MDeverywheres software also includes two knowledge-driven systems Claim Expert and Contract Expert, designed to generate and utilize practice-specific knowledge to increase efficiency and improve the business flow of the practice, freeing physicians to better focus their time and revenues on other clinical matters.
Appropriately allocating resources, time and energy to achieve satisfaction with one’s entire life — professional and personal – is a step in the work-life balance process.
MDeverywhere clients retain complete control of their practice. Using the web-based medical billing software, clients can electronically access schedules, patient ledgers, financial reports, payment and denial batch statuses, EOB images on demand and touch base with their account manager to resolve claim exceptions. Fetterolf points out that their account managers communicate on a weekly, biweekly or monthly basis with clients to keep them aware of issues and progress, and erase the load of non-clinical issues from their practice concerns.
Fetterolf said,” We also make it easy for clients to access our services. With MDeverywhere, there is no long-term contract, upfront software license fees or fees for training and implementation. You simply sign a one page fee agreement that can be cancelled at any time. We are so confident of our turnkey service that we get paid a percentage of collection.”
David Fetterolf has 17 years of experience working for leading healthcare information technology and service companies responsible for strategy, implementation, manufacturing, technological development and financial performance. Fetterolf earned a bachelors degree in electrical engineering from Cornell University and a Masters of Business Administration from The Wharton School at the University of Pennsylvania.
