Information Technology Health
The American Recovery and Reinvestment Act (ARRA) 2009
The Act assigned a provision of monies for structure to facilitate the adoption of electronic health records, and to establish a National Health Information Infrastructure for the
As part of the ARRA, Health and Human Services (HHS) announced a total of nearly $1 billion in awards to help health care providers advance the adoption and meaningful use of health information technology and train workers for the health care jobs of the future.
HHS has provided $547 million in grant awards to 56 states, territories and State Designated Entities to enable HIE at the state level aimed at building infrastructure to enable widespread meaningful use of health IT.
An American Medical Association report shows that 19.3%—almost one in five—of medical claims processed by the nation’s largest commercial health insurers is inaccurate. The claims payment inaccuracies has not improved, and in fact, increased in 2011 over last year. The system is far from efficient and quite error-prone.
Further, there was a 2% rise in claims processing errors over last year’s findings, which added an estimated $1.5 billion in unnecessary administrative costs to the health system. It is estimated that if all health insurers were able to eliminate all claim payment errors, the health care system would save $17 billion a year. In fact, approximately one in seven (over 14%) of the health insurance claims go unpaid, which is a high denial rate. The turn around is between 45-90 days, thus creating significant outstanding receivables for medical practices.
A video on Health-insurance claims and independent medical practice is available for viewing. Guests on the Points of View program were Michael Fossum, Founder & CEO, SilverTree Health, and Patrick Hayden, Consultant, Wolfe Consulting Group.
Click on SilverTree to view the entire video.
To read more click on the article.New Chandler firm blazes trail in accurate health-care claims 
Chandler Republic featured on article November 2011 titled, "New Chandler firm blazes trail in accurate health-care claims".
There isn’t anyone that takes Independent Medical Practice profits more seriously than the founder and CEO, Dr. Fossum. The company diligently works to help independent medical practices remain independent by improving billing processes and driving more profits per patient.
It is the only medical billing software and service company that guarantees an increase in profits. The one-of-a-kind approach combined with the company’s coding experts equals a miraculous boost in collected revenue of 20 – 30 percent for their clients in just a very short period.
Wolfe Consulting Group, LTD. specializes in delivering effective and profitable solutions for the business challenges facing medical and dental practices in the Mountain West region.
Wolfe
Consulting
Group, LTD.
Your Action: Medical and dental providers are facing pressures to manage their business with reduced revenues and increased expenses. Bringing in a team of business professionals to evaluate business operations and identify potential cost-saving strategies is one way to offset these pressures.
For a complementary consultation meeting, please call (602) 324-0405, or email us at:
info@wolfecon.com.
Information Strategy Design, a premier computer network company, works directly with Electronic Medical Record vendors.
The multiple-superior services and cost-effective implementation methods enable them to efficiently and economically work with medical practices to assess computer networks and ready the practices for EMR implementation. Visit ISD for more information.
Your Action: Healthcare clinics and practices will need to adopt electronic medical records or be subject to a penalty scheme for non compliance after 2014. Need to conduct an IT assessment for the eventual EMR conversion, so please contact steve@isdesign.com
