Category Archives: GE Centricity Practice Solution

GE’s Healthcare IT Business to be Acquired by Veritas Capital

HealthCo is excited to announce that  GE Healthcare has reached an agreement to sell its ambulatory care, revenue cycle and workforce management software businesses to Veritas Capital.  GE’s Centricity Practice Solutions is included within the acquisition. 

Veritas is a leading private equity firm that invests in companies that provide critical products, services and technology-enabled solutions to customers worldwide.  Veritas is well-capitalized with a strong ability to invest for growth.

These new owners bring a culture of intense customer focus and a drive for growth through focused R&D and product innovation, as well as a deep understanding of the urgent need to digitize our healthcare system. Additionally, they have a strong track record of strategically transforming leading companies in the healthcare information technology space.

GE Healthcare and Veritas will work together to ensure a smooth and professional handover after the transaction closes, which is expected in the third quarter.

HealthCo will continue “business as usual” and go above and beyond to make this transition seamless for our customers. HealthCo remains committed to keeping you proactively informed and satisfied with our services.

Please join us at GE’s State of the Union where you can learn more about the transition and have an opportunity to ask questions:

GE State of the Union Webinar Registration

For Centricity Practice Solution and Centricity EMR Customers
April 20, 2018
12:30PM EDT | 9:30AM PDT

Register

Another way to stay informed is to attend Centricity LIVEMay 16-18 in Las Vegas, where you will be able to connect directly with Veritas leadership to get the latest information regarding the transition. The conference will also include a series of breakout sessions designed exclusively for Centricity customers to give you a first-hand look at what’s next on the Project Northstar journey and provide you with tips, strategies and best practices that you can put to immediate use. 

In the meantime, please know that we believe transparency in communication is important so don’t hesitate to reach out, we will answer your questions openly and honestly.

Again, we are incredibly excited to share this important news with you, and we look forward to the journey ahead.

GE Healthcare Recognized As Leader in Revenue Cycle Management

SANTA CLARA—Based on its recent analysis of the revenue cycle management (RCM) industry, Frost & Sullivan recognizes GE Healthcare with the 2017 North America Enabling Technology Leadership Award for its highly customized, scalable, and agile RCM IT solutions for hospitals, ambulatory practices, specialty practices, health plans, billing companies, managed service organizations, and other stakeholders.

Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that not only enhances current products but also enables the development of new products and applications. The award recognizes the high market acceptance potential of the recipient’s technology.

Despite the widespread adoption of basic RCM IT solutions, most US healthcare providers still grapple with low operating margins resulting from poor accounts receivable (A/R) performance and high average denial volumes. As a result, hospitals across the country lose approximately $262 billion per year on denied claims from insurers. Frost & Sullivan observed that many large healthcare providers, including accountable care organizations, integrated delivery networks, and group practices, continue to manage revenue cycles in silos, without taking advantage of an RCM IT solution that can drive RCM performance while managing all payment models. This often results in underpayments and lost rebates and incentives from payers.

“Healthcare providers have long struggled with the difficulty of implementing enterprise-wide RCM solutions,” said Koustav Chatterjee, Industry Analyst, Frost & Sullivan. “In our analysis, we found GE Healthcare’s value proposition to be unique, disruptive and pioneering from the context of the US RCM vendor market. The company’s solutions integrate with virtually any EHR [electronic health record] and can help facilitate clinical and financial analytics across the enterprise while delivering informed workflows that drive the outcomes that are critical to organizations’ success.”

“GE Healthcare is proud to have been recognized by Frost & Sullivan with the Best Practices Award for Enabling Technology in Revenue Cycle Management,” said Shiv Gopalkrishnan, Vice President, GE Healthcare. “This award is a testament to our commitment to helping our customers deliver the revenue cycle outcomes necessary to enable them to pursue their mission of caring for their community.”

Ge Healthcare’s RCM IT solution begins with their flagship solution, Centricity™ Business, which enables health systems to manage both ambulatory and hospital RCM all on one RCM platform and can be combined with a range of other value-added financial solutions. GE Healthcare takes payer connectivity to the next level by offering Centricity EDI (Electronic Data Interchange) Services to optimize billing process, DenialsIQ™ to reduce the costly impact of denied claims, and Centricity Payer Connect to ensure that customers can monitor, benchmark, and respond to gaps in care in real time and prevent revenue leakage.

GE Healthcare’s financial management solution portfolio spcifically improves the following:

  • Payment experience for patients: Patient-portal connectivity (incumbent or external portal) provides effective scheduling and built-in payment modules for informed financial decision-making.
  • Value-based payment model adoption and care management for providers and payer-providers: For healthcare organizations engaged in risk-based contracts and value-based reimbursement ranging from shared savings to global capitation, GE Healthcare provides highly scalable solutions that streamline management of administrative costs, utilization, and care coordination of patient populations.
  • Cost management for all: The company’s point-of-service toolkits can estimate patient liability and propensity to pay, thereby preventing loss of revenue. Additionally, with the help of EDI and DenialsIQ, patient eligibility assessment is digitized, claim errors are auto-highlighted, and denials are managed with predictive analytics.

“GE Healthcare enables its customers to achieve tangible financial outcomes that are better than the industry standards,” said Chatterjee. “For example, GE Healthcare’s top 20 ambulatory customers’ average number of A/R days is at least 10% lower than average. This is achieved through its efficiency in A/R management, using a persistent approach to optimizing patient access processes, streamlining billing workflows, pre-adjudicating claims, and automating financial reporting around claim denials’ root-cause analysis and regulatory adherence.”

GE Healthcare has been successful in driving a consolidated, value-based care approach for its customers. The company has demonstrated its proven expertise in streamlining costs and optimizing collections through an impressive portfolio of IT solutions combined with optimization services that ensure greater financial performance. For these reasons, GE Healthcare has earned Frost & Sullivan’s 2017 North America Enabling Technology Leadership Award.

Accurate ICD-10 Coding Is Critical To The Clinic’s Bottom Line

GE Healthcare’s Centricity Practice Solution, like all business-essential software, helps remove complexity from tasks that would otherwise be unmanageable. For one, the clinic’s EHR software must assist physicians and medical coders in the clinic with the correct choice of ICD-10 codes. With more than 68,000 options in the International Classification of Diseases database today—up from just 13,000 in the ICD-9 standard—the likelihood of human error is too high to proceed without automated assistance.

To provide just one example, “degenerative myopia with retinal detachment” has five ICD-10 codes assigned to it, not one. This granular level of detail helps describe the precise diagnosis. The good news here is we have Clearinghouse tools available in Centricity to help you manage the complexity of ICD-10 coding and maximize revenue.

Improving clinic workflows is another critical aspect in getting ICD-10 right the first time. Data is only as good as the inputs received, which squarely places the responsibility on the clinic’s physicians to make the accurate call at the point of care. You never want the clinic’s coder(s) to guess which code is correct after the fact and input the wrong code or series of codes. That will quickly make for an unnecessary billing logjam. The chain of communications from physician to coder to payer needs to be flawless, or payments will be denied or lost in the system.

“The idea is to minimize billing time, reimbursement time, get a clean claim and get money get faster and improve cash flow,” Denver Wade Harless, who works for the Sacred Heart Health System, told Healthcare Finance News. Harless believes “a lot of clinical legwork needs to be done to get more specific information from physicians.” Our take is, workflow improvements are always highly beneficial, but workflow realignments, in combination with added functionality in the EHR, produce the biggest wins for the clinic.

Four Keys To ICD-10 Coding Success

1) An awareness of the issue and a commitment to solve it
2) Physician training to help identify the right codes at the point of care
3) Customization and optimization of Centricity
4) Select clinic workflow improvements (determined on a case by case basis)

There’s no question that the challenges in value-based care, including keeping up on the latest developments in ICD-10, puts an extra onus on practice administrators and physicians. The complete solution includes hiring talented coders, internal training, process improvement, and software upgrades.

Our implementation team at HealthCo is available to discuss your ICD-10 questions on a call that I am happy to set up fro you. Send me a note at rachaelr@healthcosystems.com.

Better Data Leads To Improved Care And Higher Profits

Meeting the various reporting and measurement standards imposed by CMS is no cakewalk. On one hand, clinicians must be adept at change management. On the other, they must be technically proficient and knowledge rich.

There can be no doubt that successfully practicing medicine today requires clinicians to overcome several significant challenges. It’s our job to reduce at least one challenge—and we do, by clearing the path to payment under value-based care.

Shiv Gopalkrishnan, GE Healthcare’s General Manager of Enterprise Financial Management Solutions, addresses one problem head-on when he asks, “How can we deliver solutions faster through the cloud?”

In busy clinics, resources are limited, which puts an extra onus on technology to do more of the heavy lifting. As Centricity migrates to the cloud in 2018 and beyond, physicians and practice managers will begin to benefit from the “no touch, low touch solutions” that help drive automation, which leads to optimized workflows and a notable reduction in workloads around the clinic.

Gopalkrishnan says, “Whether it is clinical outcomes, financial outcomes, or operational outcomes, we know with value-based care, these are all going to be tied together. You’re going to get paid because you demonstrate clear clinical outcomes and quality of clinical outcomes.” He adds, “It’s very important that we deliver a solution suite that helps clinics achieve these net financials.”

In order to deliver the results our partners in clinics count on, GE Healthcare and HealthCo bring a true understanding into provider workflows and reporting requirements. Thanks to our years of experience working in clinics and with clinics, we also understand the pressures involved (in making big changes) and how to relieve them.

Let’s recap. The “Triple Aim” of value-based care can be summarized like so:

    1) Reduce the cost of healthcare
    2) Enhance the patient experience
    3) Improve population health

At HealthCo, we are on board with all of the above. We also come to work each day ready to deliver on these core promises:

    4) Enhance care quality
    5) Improve provider efficiency
    6) Strengthen financial performance

We know the move from fee-for-service to value-based care is a big change, and the entire transition cannot normally be made all at once. It takes time, a solid plan, and reconfiguration of systems to properly record the numerous measures of quality that help determine the overall health of your patient population.

Remember, you need to demonstrate improvement to get paid today.

According to RevCycle Intelligence:

Value-based reimbursements are calculated by using numerous measures of quality in determining the overall health of populations. Unlike the traditional model, value-based care is driven by data because providers must report to payers on specific metrics and demonstrate improvement. Providers may have to track and report on hospital readmissions, adverse events, population health, patient engagement, and more.

We are happy to help you refine your tracking procedures and update your workflows to meet the need of value-based care. Measuring the full set of outcomes that matter most to patients is indispensable to better meeting patients’ needs. It is also one of the most powerful vehicles for lowering health care costs. Let’s work on it together. Better care at a lower cost is a promise for the future that is within reach today.

It’s Conference Season and We’re Headed To Bend, Boise, and New Orleans

Bend, Oregon is a favorite destination for golfers, mountain sports enthusiasts, and people in search of the sun. This week, The Riverhouse in Bend will also host hundreds of practice administrators from around the state at the annual Oregon MGMA Conference.

Some of the key sessions we’re looking forward to:

  • Benchmarking Your Key Performance Indicators
  • MACRA – State of Affairs and Updates

HealthCo will also have a booth on the exhibitor floor at the Riverhouse. Please stop by Booth #501 and say hello. We are also giving away three fully loaded gift baskets!

Directly on the heels of Oregon MGMA in Bend, the HealthCo team heads to Boise for Idaho’s annual MGMA Conference. The Idahoans are always great hosts and this year is no exception. The event kicks off with a golf tournament at Warm Spring Golf Course. Whether you’re an expert golfer or have never played, come and enjoy a morning of fun, prizes, contests, and the excellent company of your peers.

When we get down to business in Boise, there will be incredible programming available. In fact, all three of these of the following presentations are in the same time slot (forcing one to make a tough choice):

  • Good Clinics to Great Clinics
  • Mentoring: The Key to Professional Development
  • Engaging Physicians

After returning from these key annual pilgrimages, we will begin to prepare for CHUG Fall 2017, which is in New Orleans this October.

I sense beignets in our future.

The keynote speaker at CHUG is Dr. Kavita Patel, a co-founder of Tuple Health, a physician-led company focused on practical clinical solutions to bring care back to health. Dr. Patel was previously a Director of Policy for The White House under President Obama and a senior adviser to the late Senator Edward Kennedy.

We’re always interested in seeing our customers at these key industry events, and hearing from industry leaders about important topics in healthcare IT and practice management. If you’d like to schedule a time to chat during these upcoming events, let’s do so now.

Protect Your Patients and Your Clinic with Centricity™ Practice Solution

A clinic’s EMR is like its circulatory system—damage it in any way and everyone in the clinic, including your patients, suffers the consequences. Alarmingly, there are thousands of clinics running faulty EMR software today.

You might have heard that the executives at eClinicalWorks agreed to pay $155 million in fines—rather than face trial—in order to settle a False Claims Act lawsuit brought by the Department of Justice?

The lawsuit claims that the company willfully “caused the submission of false claims for federal incentive programs,” among other serious violations.

At a time like this, it’s only natural to ask:

  • Can you trust that your patient data is accurate?
  • Is patient safety in question?
  • Is my EMR vendor a partner or a potential liability?
  • Can the clinic successfully attest?
  • Will your technology partner be around tomorrow?

To complicate matters, some eClinicalWorks customers are now complaining that the company is not supplying the clinic’s patient data when asked to do so. “We’ve been held hostage for a year and a half. I battled them,” said Laura Williams, practice administrator at North Spokane Women’s Health in Washington. “It’s a nightmare with them.”

“The IT people at eClinicalWorks never were able to fix the program errors, but our IT guy came up with a solution that at least has us able to access our patient records,” Williams said. “If I can get my patient data migrated to Centricity that will be enough.”

If you’re currently finding workarounds for your EMR, it’s time for a new EMR. Put eClinicalWorks behind you. We’re here to help steady your clinic’s healthcare IT infrastructure today, earn your trust, and support your clinic for years to come.

Schedule a Centricity demo today. It’s the first critical step on the path to clinical and financial well being.

Previously on the HealthCo Blog: Clinics Trust GE Healthcare for Good Reason