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Issue #4: October 2009 Commonwealth Medical Management Services, Inc.

Increasing Your Practice's Profitability · Medical Management Services, Inc. Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive,

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Page 1: Increasing Your Practice's Profitability · Medical Management Services, Inc. Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive,

Issue #4: October 2009 Commonwealth Medical Management Services, Inc.

Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive, but requires access and availability to multiple pieces of information related to each visit. A cover sheet indicating contact information, the "claim form", the Doctor's note and the work comp billing information should all be attached when submitting a work comp claim. Due to manual handling and printing (unlike electronic claims processing), delays in obtaining the Doctor's note and the"snail mail" time required to submit a work comp claim, often cause these claims to be overlooked or mishandled and almost always experience delays in processing

Page 2: Increasing Your Practice's Profitability · Medical Management Services, Inc. Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive,

Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive, but requires access and availability to multiple pieces of information related to each visit. A cover sheet indicating contact information, the "claim form", the Doctor's note and the work comp billing information should all be attached when submitting a work comp claim. Due to manual handling and printing (unlike electronic claims processing), delays in obtaining the Doctor's note and the"snail mail" time required to submit a work comp claim, often cause these claims to be overlooked or mishandled and almost always experience delays in processing and payment. If your practice manages worker's comp claims, you know that these claims are typically reimbursed at higher rates when compared to standard private carriers. "Higher reimbursement rates" are the single most important reason to determine an efficient and cost effective method to manage these claims. To add insult to injury, work comp claims are notorious for getting "lost" or having to be resubmitted. Therefore a method for follow through that is unlike your standard A/R collections process is also in order. CMMS, Inc. has developed an "automated" method of processing work comp claims and is currently in a "live" test mode with one of our clients. We anticipate this to be a standard offering by the end of October 2009. We have expanded upon the technology behind this process in the "Healthcare and Technology" section below. By automating the work comp claim submission process, we will allow our clients to more efficiently process, track and most importantly realize a financial benefit.

Commentary from CMMS's President

Given all the talk around healthcare reform of late, I did not want to miss an opportunity to share a couple of articles that have been getting quite a bit of "buzz" in the medical community. One of the selected articles is from the Wall Street Journal and centers around a "what if" scenario that allows physicians to determine Legal Industry reform. I have attached the link to the full article below but in short, here are a few thoughts to ponder.

What if Doctor's sat on a panel that;

1. Assigned each potential legal situation a relative value and charges were limited to a preset amount? E.g. Divorce - $5,000 / Custody Battle $2,000...etc. (and if you represent both offenses at the same time, the second offense could only be charged at 1/2 the price). 2. Discouraged contingency fees and eventually outlawed them over a five-year period?

3. Determined at what age you no longer were deserving of Legal representation?

4. Determined the actual "necessity" of legal services therefore rationing "legal care" until approved by the panel?

I am sure you get the point. This article was written by a seasoned Radiologist in NY City and brings multiple "thoughts" to the forefront that suggest healthcare reform or "ObamaCare" begins to move our society more definitively towards socialism. And if ONE professional industry can be managed (reformed) others would most likely follow. The second article was taken from The Washington Post and is also a good read if you have a moment. I would enjoy hearing your input on either article. My email address is noted below. Feel free to share your thoughts and/or comments. A Doctor's Plan for Legal Reform

E-Eligibility & E-Prescribe Integration available now

AMD's e-Eligibility and e-Rx are fully integrated into the patient's electronic chart. These features provide a more convenient and cost effective method than free-standing systems. "There's

a reason why those free-standing systems are

offered for free!"

Page 3: Increasing Your Practice's Profitability · Medical Management Services, Inc. Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive,

suggest healthcare reform or "ObamaCare" begins to move our society more definitively towards socialism. And if ONE professional industry can be managed (reformed) others would most likely follow. The second article was taken from The Washington Post and is also a good read if you have a moment. I would enjoy hearing your input on either article. My email address is noted below. Feel free to share your thoughts and/or comments. A Doctor's Plan for Legal Reform Authored by: Richard B. Rafas - Wall Stree Journal 09/04/09

Devaluing Doctors -- and Care

(Authored by: Marshall Ackerman - The Washington Post 08/20/09).

Kim Whitehurst, President/CEO

CMMS, Inc. / [email protected]

TECHNOLOGY & HEALTHCARE

Making The Impossible - POSSIBLE Automating Work Comp Claims processing!

CMMS, Inc. continues to analyze, review and implement new and innovative ways to help our physicians' practices run more efficiently, in a more automated fashion and ultimately realize a financial benefit as a result. How did we automate work comp claims processing? Step 1: the integration of a work comp module that links employers to patient files and then to the appropriate work comp carrier. Step 2: Electronic Patient chart displays a pop-up window indicating the work comp case worker and their fax number. Step 3: Transcription integration at the patient file level provides overnight access to doctor's notes dropped automatically to each electronic patient record. Step 4: And finally a custom-built template that

standing systems are offered for free!"

Transcription Integration

CMMS, Inc. partnered with MxSecure to perform the

first fully integrated transcription service to

AMD eliminating hours of transcription data entry and

filing time. For more information about how you can take advantage of this super time (and money) - saver, call our office for

more details.

CMMS, Inc. is a Medical Consulting and Practice Management

firm with a strong emphasis on business process and technology. We have recognized that while doctor's continue to get "squeezed" by the healthcare system - faster, more accurate and more efficient methods of doing business are critical to each practice's success. Our new clients have averaged an 18 - 23% increase in revenue when they join our team!

Page 4: Increasing Your Practice's Profitability · Medical Management Services, Inc. Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive,

auto-generates the cover page with contact information and work comp billing info (pulled from the work comp module). During the EOD (end of day) close, work comp claims are dropped to an electronic folder (as opposed to a printer) and the remaining documents that have been electronically captured are pulled and sent via Fax On-Demand. So far, we've had limited "push back" from work comp carriers regarding the receipt of work comp claims via fax. (8 out of 10 carriers have complied to date). RESULT: Faster processing, easier tracking capabilities, elimination of postage $$ related to "snail mail" and most importantly - FASTER PAYMENT!! Voila!!

Medical Marvel Clip: Major HIV Breakthrough or just a lot of hype?

HIV Vaccine Results COMMONWEALTH MEDICAL MANAGEMENT SERVICES, INC

CMMS, INC.

PO BOX 70219

RICHMOND, VA 23229

PH: 804-740-8000 / FAX: 804-740-4885

www.cmedmgt.com

.

CMMS, Inc. strictly abides by "industry standards" calculations to accurately gauge our client's needs and their progress. We work as an integral team member with existing employees to achieve optimum results. Please feel free to call us should you have any questions about these topics or have general inquiries. We would be happy to hear from you.

Sincerely,

Kim Whitehurst, President Commonwealth Medical Management Services, Inc.

804-740-8000 / [email protected]

Page 5: Increasing Your Practice's Profitability · Medical Management Services, Inc. Increasing Your Practice's Profitability The processing of work comp claims is not only labor intensive,

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