Why Adopt EHR/EMR's?

Well as we all know healthcare takes a collective effort. Sharing information takes the same effort. So when team members are able to communicate with each other effectively, everyone benefits, such people include patients, their families, and the providers. The health of the nation and the economy also prosper form such communication. Electronic health record adoption requires an investment of time and money, but the benefits that are provide from this induction of such a system will definitely outweigh the costs  and will provide providers with financial incentives that are out there. 

Already to date more that 144,000 payments with a total amount of $16.5 billion have been issued to eligible professionals and hospitals by the CMS ( Centers for Medicare and Medicaid Services) and an estimated $22.5 billion will be paid out between now and the year 2022 to eligible providers who adopt EHR Technology. 

Health IT is not a new area of business but in the recent past it has truly grown and is now in grater demand especially with the new healthcare reform that will provide many people that have never had the opportunity to have health insurance to now have it.  With that being in effect that means there will be more patients . So will more patients comes more paperwork. The adoption of the EHR/EMR system will allow providers to have a centralize location for all of their patients and also give the patients the opportunity to review their own health records and to add new symptoms before their appointments so that the doctor is already aware of their patients current issues. . The promise of fully realized EHRs is having a single record that includes all of a patient's health information: a record that is up to date, complete, and accurate. This puts providers in a better position to work with their patients to make good decisions.

Many of the providers that are currently using an EHR system report that  the adoption of the system has allowed them to have more accurate and complete information about their patients health. By allow them to have better accurate filing it allows for the provider to give the best possible care during routine and medical emergencies. It give them the ability to quickly provide care. In a crisis EHR's provide instant access to to information about the patients medical history,allergies, and current medications. This feature and such quick access will allow providers to make quick decisions instead of waiting for information that should take to long and be detrimental to a patients life. EHRs can also flag potentially dangerous drug interactions (to help prescribing doctors explore alternatives before a problem occurs), verify medications and dosages (to ensure that pharmacists dispense the right drug), and reduce the need for potentially risky tests and procedures.

With the adoption of EHR/EMR many healthcare providers have found that it really does help and improve their practice management by increasing their efficiency and cutting costs. According to a national survey of doctors who have already adopted the meaningful use show that:

• 79% of providers report that with an EHR, their practice functions more efficiently

• 82% report that sending prescriptions electronically (e-prescribing) saves time

• 68% of providers see their EHR as an asset with recruiting physicians

• 75% receive lab results faster

• 70% report enhances in data confidentiality

So why keep waiting to adopt a system that will cut cost and improve your efficiency? Before long and especially come 2015 medical providers will begin to lose money on their Medicare reimbursements and will no longer be able to qualify for the Meaningful use incentive which means they lose out on at least $39,000 because they did not want to go EHR. Just look at the benefits it offers and what it can do for your practice and your patients. 

For more information contact Triple E Medical Solutions LLC.

Phone: (888) 338-7293 Fax: (888) 391-2109

Email: info@tripleemedicalsolutions.com

Website: Triple E Medical Solutions LLC

Start Up Decisions, Who to trust and use

So there are many providers out there that are making the huge decision to go into business for themselves and provide care from their very own practice. But there are many aspects to business that sometimes medical providers do not understand or overlook in their pursuit of their own practice. Many people let alone medical providers find themselves overwhelmed by some of the aspects that actually go into the building and growing of a successful company. All the things necessary to successfully begin your practice can all get lost very easily in the haze and can all become frustrating without a solid plan. 

Developing a solid plan is crucial to the success of any business. From a personal standpoint and with my military background I learned very quickly that if you do not plan properly you will run into many problems that are easily preventable and also find yourself in a situation that will end in total catastrophe. First, build and write a business plan that will outline exactly what it is that you want to do, how much you want to spend, and the location that feel will be suitable and provide you with the best advertisement to draw in customers and patients. For medical providers they must also make sure that they are getting involved and brushing up on the laws, regulations, and incentives that may directly affect them.

Any business owner, has many decisions to make. They need to be smart with the liquid capitol that they have in order to maximize it and get the most bang for their buck. Truly when looking to start-up a medical practice one must look at medical equipment, which means looking into vendors that offer medical equipment and analyzing the price. Also, when looking to hire a staff that will manage the practice will definitely take time and money.  So when looking to hire staff I think that all of the medical providers out there should look to outsource some of their business needs, as this will definitely save them some money and decrease their overhead cost right from turnkey. Wow, boost your profit immediately and also cut your cost from the very beginning. 

So why outsource?  here are some facts about why people outsource and how it really cuts down on cost for medical providers. 

Saves Money:  Costs to maintain staff for billing including salaries, office space, indirect expenses such are turnover, distraction from other key roles, etc all lead to higher costs for practices. 

Saves Time:   Outsourcing this burdensome task can take a great amount of weight off the staff’s shoulders – saving you time you need to focus on your patients. 

Saves Resources:  Practices that don’t outsource can’t afford to have an employee focus on billing without the distraction of other responsibilities. Outsourcing frees up staff time to focus on other critical tasks such as, making appointments, sending reminder cards, attending to patients, etc.

Reduces Rejected Claims:  National average is over 20%. Typical reason is coding errors. Outsourcing reduces this risk significantly. Also adds added security with respect to fraud prevention

Improves Cash Flow:   Most practices cannot delegate staff to billing because of limited resources and/or too expensive to have dedicated resources. With a medical billing company they are focused on ensuring all claims are submitted correctly and follow-up persistently resulting in quicker collection.

Provides Added Security:   It's a well-known fact that most cases of fraud originate from within a company. If you outsource your medical billing, you'll have an outside eye looking at your finances and providing checks and balances that you and your staff might not have the time or ability to provide. 

Improves Your Business:  Many doctors say that you don't just need an M.D. to be in private practice anymore-you also need an MBA. A good medical billing firm will provide you reports, often monthly, detailing the financial health of your practice, and can recommend ways to boost profitability as well.

Helps Negotiate with Insurance Carriers:  Your medical billing company can give you the detailed information you need to successfully negotiate a contract with a malpractice insurance carrier.

Well here at Triple E Medical Solutions, LLC we specialize in providing a unique combination of services catered especially for medical service providers. The purpose of Triple E Medical Solutions  is to be a one-stop resource for medical providers for all of their financial, business or set-up needs. Our mission is to be a valuable and reliable resource you can trust for all your financial and business needs to help you maximize your profits. We will not merely “refer” you to other companies. We will work with you side-by-side through each step of the way.

Our services are focused on four main areas:

1. We help new physicians with all the details of establishing their very first practice. This includes all services from becoming licensed with insurance companies to the day their doors open for patients.

2. We can handle all your billing functions and have been doing just that for a network of over 1,500 providers. Our claim acceptance rate is over 97% and our reimbursements are usually within 7-14 days.

3. We offer a wide range of business advisory services from valuations, to audits to setting up your office with electronic medical records (EMR).

4. We also have an expertise in accounting and tax and can become your accountants. 

By having all your business and finance needs addressed by Triple E Medical Solutions, LLC we can truly be your reliable and trusted sole business adviser so that, “we can provide you with real time solutions for your real time problems."

Visit www.tripleemedicalsolutions.com for more information. 

Keep your head up

When the going gets tough you have to keep going or you will definately lose. Why stop with just one success when you can accomplish so much more. Why leave money on the table when you can collect it and make good on your  investment. But is a monetary investment the only investment that needs to be tended to? Let's look at human capitol investments. Wealth is not only measured by the amount of money we possess but also by the knowledge we possess. We place deposits in that investment when we accomplish our goals for education and never look to be complete in our endeavor of gaining knowledge and being the best we can be no matter what we study or do in our lives. By making this investment we make.and.investment in our future and in our childrens future. We set the example for those who follow in our footsteps and will one day replace us in our positions. By being positive role models and giving others hope we add to our repertoire of assets and provide those who need inspiration and motivation just that. The glimmer of hope that we shed is enough to push those to do better and take risks for what they want no matter what people say. Remember that we are only as good as what we know. So learn all that you can and never hoard the information but share it so that others may know, and for that you will have a complete return on investment.

No more delays in ICD-10

Well it's official the CMS has released the latest and greatest on the new ICD-10 implementation after many discussions and back and forth with physicians accross a 2 year span has finally resulted in an official date for the actual implementation of ICD-10. So what does that mean for you and your practice? Well it means that you will have to update your codes if you want to get paid for your services. Now I don't know about you, but I like to be paid correctly for what I do. It also means that if you still file claims using the ICD-9 codes you will experience higher rejection rates. Higher rejection rates equals less revenue. Well, why would you not want that revenue? You need that revenue, in order to sustain your practice and see the people who need your services, and depend on you for their health and well-being. So when you get a chance check out the article below so you can read more about it. If you are looking to get the implementation complete early you can also contact Triple E Medical Solutions, LLC because our state of the art system is already designed and includes ICD-10 codes.  Visit us at http://www.tripleemedicalsolutions.com/index.php We are the Evolving Efficient Experts in Healthcare, here to provide you with the real time solutions to your real time problems.

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