NextGen Healthcare Reveals Results of Its RCM Survey
Study Aims to Identify Opportunities for Practices to Improve
Efficiencies and Bolster Revenue
HORSHAM, Penn.--(BUSINESS WIRE)--
NextGen
Healthcare Information Systems, LLC., a wholly owned subsidiary of Quality
Systems, Inc. (NASDAQ: QSII) and a leading provider of healthcare
information systems, services and connectivity solutions announced today
the results of its RCM Survey Report: What's
Happening Behind the Billing Office Door.
NextGen Healthcare recently conducted a survey among practices across
the nation to gain deeper insight into the current state of revenue
cycle management (RCM) across various medical practices. Participating
practices included both NextGen Healthcare clients and non-NextGen
Healthcare clients, spanning varying specialties, staff size, and
locations. The survey results reflect the operational and financial
metrics provided by each of them.
The RCM Survey evaluated several high-level metrics including: net
collection percentages; first-pass clean-claim rate; average days in
A/R; and, outstanding collections for 120+ days.
The survey revealed that many medical practices fell short of best
practice benchmarks and are potentially missing opportunities to
optimize revenue.
Survey results found that:
-
Across both the practices that handled billing in-house and those that
outsourced, the use of automation in the revenue management process
was popular.
-
Nearly half of practices reported having just one person handling the
denial resolution process.
-
On a scale of 1-10, only 15 percent of those surveyed rated their
practices' denial follow-up and resolution abilities as a "10" or
"Excellent." Thirty-one percent of practices rated their abilities
between 1-5.
-
35 percent of incoming calls from patients are regarding billing
issues.
-
Only four percent of practices rated their abilities around electronic
claims submissions as "Excellent." And only 10 percent assigned that
rating to their ability to check every Explanation of Benefit and
Procedure CPT code to ensure they are paid according to contracts.
"The rationale behind this survey is to assist practices everywhere with
the assessment of their own RCM metrics while identifying opportunities
to make improvements and optimize revenue," explained Monte
Sandler, executive vice president of NextGen RCM Services. "Setting
operational best practices can help healthcare organizations quickly
identify areas in need of improvement and, with a team of 900+ billing
and practice management experts, NextGen RCM Services comprises the
right people, processes and technology to help practices best optimize
revenue and improve organization-wide efficiency."
To download the RCM Survey Report: ‘What's Happening Behind the Billing
Office Door,' click here.
To get a snap shot, download the RCM Survey Report infographic, here.
About NextGen Healthcare
NextGen Healthcare Information Systems, LLC, a wholly owned subsidiary
of Quality Systems, Inc., provides integrated clinical, connectivity and
financial solutions, including revenue cycle management services for
ambulatory, inpatient and dental provider organizations. For more
information, visit www.nextgen.com
and www.qsii.com.
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About Quality Systems Inc
Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare
subsidiary develop and market computer-based practice management,
electronic health records and revenue cycle management applications as
well as connectivity products and services for medical and dental group
practices and small hospitals. Visit www.qsii.com
and www.nextgen.com
for additional information.
Certain statements in this news release are forward-looking
statements within the meaning of the federal securities laws, including
but not limited to those statements made by Monte Sandler related to the
Company's future products and offerings. These statements are based on
current expectations of future events. If underlying assumptions prove
inaccurate or unknown risks or uncertainties materialize, actual results
could vary materially from the Company's expectations and projections.
Factors that could cause the anticipated results to differ from those
described in the forward-looking statements include the possibility that
products will not achieve or sustain market acceptance; the impact of
incentive payments under The American Recovery and Reinvestment Act on
sales and the ability of the Company to meet continued certification
requirements; the development by competitors of new or superior
technologies; the timing, cost and success or failure of new product and
service introductions, development and product upgrade releases;
undetected errors or bugs in our software; changing economic, political
or regulatory influences in the healthcare industry; availability of
third-party products and components; competitive pressures including
product offerings, pricing and promotional activities; the Company's
ability or inability to attract and retain qualified personnel; possible
regulation of the Company's software by the U.S. Food and Drug
Administration; and general economic conditions. Additional risks
and uncertainties are set forth in the Company's public filings with the
U.S. Securities and Exchange Commission, including the discussion under
the heading "Risk Factors" in the Company's most recent Annual Report on
Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The
Company expressly disclaims any intent or obligation to update these
forward-looking statements except as required by law.
© 2014 Quality Systems, Inc., Irvine, CA 92612
® Marks
owned by Quality Systems, Inc.
All other non-QSI Marks are
the property of their respective owners
For Media and Public Relations Inquiries Contact:
NextGen
Healthcare
Michelle Rovner, 215-657-7010
[email protected]
or
For
Investor Relations Inquiries Contact:
Quality Systems, Inc.
Susan
J. Lewis, 954-389-3700
[email protected]
Source: NextGen Healthcare Information Systems, LLC
News Provided by Acquire Media
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