Healthcare Providers, ROI Reality
By Scott Bagley, HealthMark CEO and ROI Specialist
In 2006, HealthMark revolutionized the ROI industry by developing proprietary software MedRelease that is employed through three unique delivery models; full, remote, and shared service options, all at no cost to the healthcare facility. This software was designed to meet the growing need for a more efficient method of releasing medical records while complying with increasingly restrictive HIPAA requirements and patient privacy laws.
Although making great strides in the healthcare software industry, we still get this initial response when speaking about the need for effective ROI software and technologies: “Who needs another software system to learn and pay for? Moreover, will the new technology really be worth it? ” I want to take the opportunity to explain why ROI systems are a mandatory investment, and why choosing the correct system is critical to healthcare providers bottom line.
At a time when healthcare operation margins are shrinking by the hour, the idea of investing in yet another “compliant” system has many asking the necessary, yet tough questions about ROI. With the answers to many of these questions unclear, healthcare facilities need to consider a complete ROI module that is aligned with most electronic health record (EHR) systems. A system where all ROI activity occurs in the same place, from attaching the request, data entry, record upload, invoicing, collections, delivery, tracking, accounting of disclosure, reports, queue management, etc. Clinics and hospitals need to control everything within the system, as opposed to toggling back and forth between two or three separate systems. This could mean creating a best-practice IT platform or utilizing a shared revenue model like MedRelease.
The release of information process for clinics and hospitals has evolved over the years, whereas many healthcare software platforms have not, costing providers time and money. Most ROI modules do not offer a platform to assist with the exchange of patient information, and the revenue generated from ROI does not amount to the costs involved to output and administer this information. What was once a manual process of pulling paper charts and photocopying the requested information has changed dramatically with the adoption of electronic health records. Aside from changes in the actual process, many federal and state guidelines/laws surrounding the disclosure of protected health information have been created to protect patient privacy and help ensure appropriate safeguards are in place.
Healthcare privacy issues and mandated upgrades to healthcare IT are a major topic on Capitol Hill and for providers and have been for years now. So, healthcare information management departments need to set some new priorities. It’s not hard to see, given the current picture, why it makes sense to take a new approach to IT and invest in the best ROI software — HIM’s biggest victory in years. The time for more effective and efficient ROI processes is now, not once there’s been a breach and rapid restructure of the system is needed.
About The Author
As co-founder and CEO of HealthMark Group, Scott Bagley provides strategic direction and oversight to the company’s executive team. With a background in information technology and more than 15 years of experience in the Release of Information field, Bagley’s expertise enables HealthMark Group to lead the industry in best practices amid an evolving landscape. Bagley holds a BBA in Finance from Texas A&M University and sits on the board of directors for EO Dallas. His philanthropic work includes serving as a board member for Jonathan’s Place as well as involvement with Genesis Women’s Shelter. He lives in Dallas with his wife, Julie, and two children. You can find out more about Scott here: