Financial Data Management is helping their customer achieve Meaningful Use reimbursement bonuses for filing electronic prescriptions by utilizing the E-Prescribing module of MedInformatix claims processing software. Six ophthalmologists from different practice groups received Meaningful Use bonuses in Medicare and Medicaid reimbursements in 2010 and 2011 by remotely accessing the firm’s MedInformatix software to transmit electronic prescriptions, for example. The technology also helped the physicians avoid a penalty in 2012 for not filing electronic prescriptions.
“The incentives provide a strong push for complying with Meaningful Use, especially for older physicians who are comfortable circling patient diagnoses on paper and have little interest in logging in to a computer or mobile device to record the same,” said Stacy Alan Ramsey, FDM president.
Using the MedInformatix system, FDM has leveraged advanced capabilities including the ability to scan documents, post explanation of benefits from insurers or electronic remittance advice, and extract data by time period and insurance carrier through robust filters when questions arise about claims.
Among other benefits achieved by FDM through use of MedInformatix:
- Most of the firm’s practices transmit their superbills directly to the MedInformatix system using remote access, eliminating paper documents and associated overhead costs.
- FDM’s billers, coders and payment posters can handle more work because of MedInformatix’s streamlined processes. Today the firm processes more than 10,000 claims monthly and works with more than 1,000 insurance companies, including small entities focused on worker’s compensation – all without adding staff from the days when its volume was a fraction of he size.
- Because the system runs on Microsoft SQL Server, the firm also can access its own raw data to create complementary applications and automate charge entry and other functions. The firm’s programmers built a document management system and added criteria to run simultaneously with MedInformatix’s checklist that flags errors before claims are sent to insurance companies. Other systems lack this customization ability because they have proprietary databases housed on the Web, not with the client.