These folks are not doing anything that everyone else in healthcare is doing but since the press release came out today they can be the example of where tons of money goes in Health IT and the question always arises about the ROI on buying more software and algorithms. Should it today be just another core option in a total package, me thinks yes as all the add ons end up going cha ching cha ching with every new querying algorithmic process that gets created.
I guess in writing this blog I have seen a few very similar to this with a dashboard and all kinds of reports available which is becoming pretty much standard practice today. From the other side of the coin how do you keep systems affordable and how much time does the physician or office manager really have time to delve into this? On the peer activity, there might be some isolated cases to where one might want to know what a peer MD makes but it’s not something one is going to need daily. The company also has other software services it sells and when all the various pieces come together with aggregators that make them talk, and I’m not even talking an HIE yet, along comes the big expenditures that add up for all of this. Thus, I hope some folks begin to collaborate soon as the cost is going out the affordability zone soon. BD
“HOW MUCH IS THAT ALGORITHM IN THE WINDW <GRIN>”
DALLAS--(BUSINESS WIRE)--RemitDATA Inc., an expert in reimbursement, productivity and utilization solutions in outpatient healthcare, today launched TITAN, a new, data-rich solution that provides a real-time, transparent view of essential business metrics. With a level of insight only available previously to payers, Medicare and regulators, now physicians and practices have the ability to identify and correct revenue cycle and performance issues like never before.
“RemitDATA is leveling the industry playing field with TITAN by enlightening healthcare practitioners with data analysis that simply wasn’t available to them”
TITAN, a first-of-its-kind, SaaS solution provides straight-forward, real-time comparative analysis of ANSI 835 electronic remittance notices for benchmarking against regional peer practices, based on specialty and geography. The technology delivers crucial information to help refine day-to-day processes that reduce denial rates, accelerate cash flow, increase administrative efficiencies and anticipate audits. Allscripts, Dell, Doc-tor.com, LeonardoMD, MedEvolve, NextGen Healthcare and Post-N-Track are among the first adopters to offer TITAN to their customers through the RemitPARTNER program.
RemitDATA Solves the Healthcare Transparency Problem by Launching TITAN | Business Wire
You missed the entire value proposition here. Providers have been flying blind but they control 85% of the healthcare spending. Why is that? How can you expect providers to manage their day to day operations when they can't manage what they can't measure. TITAN is solving this problem. We believe if we make the healthcare system more transparent then it will mean better patient care, more physicians won't sell out to the large hospital network and the entire healthcare system will benefit. It's time for the playing field to be even. Medicare, big pharma, big payers and regulators can't be the only ones with true sight into the system. The doctors need it as well. Why shouldn't a doctor be able to compare why he is not being paid as quickly on the same set of procedures as his peer who is in the same state and specialty? Why shouldn't a physician understand how his staff is performing to his peers? Why shouldn't a provider be able to lower his/her denial rate because they have the specific answers on what went wrong in the first place? Why shouldn't a doctor understand when they are at risk for a RAC audit? We're providing transparency. TITAN will help change and even the playing field. It has a one denial per month ROI, nothing can touch that for value vs cost.ReplyDelete
I see your point here but the big issue is time, when do most have time to look. I have seen that first hand and most flat out don't have time to do additional research as such as they have other software also being utilized.ReplyDelete
Years back when things were simpler, I wrote a small program to help doctors with their EOB statements to find where they were not being paid with "floating patients" so I understand the process of the software, but again it's a matter of time and how many systems do they have time to use and analyze and still tee patients as learning curves with any software take some time, and my experience with the average family practice MD has been just that, where do they find the time.
Remember too they are also marketed with other software too, so the process gets to the point to where they zone out with marketing overload too.
That's the beauty of TITAN, it does all the analysis work for you and it works seamlessly with any PMS, EMR or CH software (Allscripts, NextGen etc). What used to take days takes minutes now. So not having time is not the issue. If they have 10 seconds to look at an email with colored indicators then they have time for what TITAN does. Doctors can receive simple weekly or monthly benchmark alerts (that they customize) that give them a green, yellow or red indicator as to how their practice is doing on many different business metrics (aged cash, denial rate, staff productivity, audit risks and payment cycle times). If they have a red light then they forward the email to their practice admin or billing manager to further investigate.ReplyDelete
And since TITAN is completely integrated into larger systems and is white labeled by our partners, then there really isn't an issue of "zoning out with marketing."
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