Category Archives: HealthCo News

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.

HealthCo Stacks Its Lineup With Another GE Centricity Pro

TUALATIN—HealthCo Information Systems, a value-added reseller of GE Healthcare software for medical practices, has hired veteran software executive William Giacone to lead the sales organization. Giacone joins HealthCo directly from GE Healthcare, where he served as a top performing Regional Sales Executive on the East Coast until last August.

Before joining GE Healthcare, Giacone was a founder of Virtual OfficeWare (VOW), the next largest GE Centricity VAR, after HealthCo and Quatris. While at VOW, Giacone did many of his own product demos and worked directly with VOW’s early customers before taking on sales leadership and other duties as the organization grew.

Giacone is now the leader of a five-person sales team at HealthCo, and he is excited to bring his consultative approach and industry experience to HealthCo’s customers in ambulatory practices.

“For the past few years, the need for revenue cycle management and financial risk management tools has been great,” says Giacone. “I see that trend continuing as clinics struggle to capture revenue, keep and train staff, and meet their financial performance goals.”

Giacone is also intent on helping clinics that run Centricity begin, continue, or finish their migration to the cloud. “Physicians and practice administrators want to protect their patient data at all costs,” says Giacone. “GE Healthcare and HealthCo both understand their concerns and how to help clinics take the next steps into a more flexible and secure data environment.”

Giacone is a graduate of Hofstra University in New York and a lifelong Mets fan.

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.

Clinics Trust GE Healthcare for Good Reason

Trust between physician and patient is sacred. Trust between clinic and EHR provider is as well. That’s why news that top executives at EHR software provider, eClinicalWorks, willfully manipulated their software to achieve federal certification has rightfully sent shockwaves across the industry.

Clinic admins and physicians are now all asking the tough questions:

  • Are quality incentive payments at risk for my clinic?
  • Has my EHR vendor done something similar?
  • Should I consider moving to another platform?

Let’s admit that we sometimes compete with eClinicalWorks. Let’s also admit that we’re nothing like them. HealthCo is a value-added reseller for GE Healthcare’s Centricity Practice Solution. GE Healthcare is not a startup, nor the kind of firm that risks its reputation. GE Healthcare is a multi-billion dollar division of GE and a globally respected brand with way too much to lose to play fast and loose with the truth or federal regulation.

The False Claims Act lawsuit brought by the Department of Justice alleges that eClinicalWorks hardcoded drug codes into its EHR software to comply with certification testing; did not adequately manage imaging orders or drug interactions; and failed to meet data portability requirements. In addition to a $155 million fine, the company has entered into a five-year Corporate Integrity Agreement (CIA).

Making matters worse, the company also settled a case that stated eClinicalWorks paid customers in exchange for recommendations of its software to potential customers, a violation of the Anti-Kickback Statute.

“Electronic health records have the potential to improve the care provided to Medicare and Medicaid beneficiaries, but only if the information is accurate and accessible,” said Special Agent in Charge Phillip Coyne of HHS-OIG. “Those who engage in fraud that undermines the goals of EHR or put patients at risk can expect a thorough investigation and strong remedial measures such as those in the novel and innovative Corporate Integrity Agreement in this case.”

The CIA requires eClinicalWorks to give customers the option to transfer their data to another EHR software provider without penalties or service charges. While current eClinicalWorks customers don’t necessarily need an added incentive to make the move, this savings is helpful to take the first step.

When trust is violated in this manner, it can cast a shadow on the entire industry. We welcome any and all questions that you might have about the case, and how the overall quality and safety of your clinic’s medical records are assured through HealthCo’s hands-on consulting and GE Healthcare’s superior technology and corporate integrity.

Meet Jonathan Dannevik, Financial Support Analyst

Members of HealthCo’s support team bring a wealth of experiences and talents to the table every day. In Jonathan Dannevik’s case, his art background is in play. He’s a talented illustrator with a children’s book coming out this month, and a decade of experience working as a systems analyst for the high-pressure futures traders in Chicago.

JD and boys

Solving healthcare IT problems live, on the phone, demands technical expertise, industry knowledge, and a patient, friendly customer service mindset. It also requires the meticulous, methodical, relentless approach of an artist. Jonathan helps HealthCo clients with claims processing, error messages, login issues, balancing patient payments and other Electronic Data Interface (EDI) issues.

“There are lots of moving parts inside Centricity. One little piece out of place can cause a claim to be rejected,” Jonathan explains. “If there’s wrong or missing information in the claim somewhere, that can be a problem.”

Jonathan and his wife are proud parents of two young boys. He finds that his creative impulses are fully alive in Oregon. “It’s so beautiful here,” he says, and with a 15-minute commute to work from SW Portland (try that in Chicago!), there’s more time for family and creative pursuits. Jonathan wrote and illustrated Crazy Creatures: an A-B-C Book, which will be available at the end of the month on Amazon.com.

Let’s hear more from Jonathan himself…

Q. What drove you to write, illustrate, publish and distribute a children’s book?

A. The birth of my two boys inspired me. When we moved to Oregon, I decided to finally put my art skills to good use and work on an illustrated kid’s book. I was also looking for jobs and taking care of boys as “Mr. Mom” during the production of the book, so the material came naturally.

ABC book

Q. What was it like when the futures traders in Chicago called and their systems were down?

A. It was quite chaotic and stressful, but we used the tools/systems we had to mitigate the financial loss as quickly as we could for each client.

Q. What do you miss most from Chicago? What do you love most about Portland?

A. I miss the beautiful skyline set against the Lake Michigan waterfront and my family. Thankfully, Portland has some great food and is a nature lover’s paradise. With the mountains to the east and the coast to the west, it doesn’t get much better.

Q. Are “Chicago dogs” really the best hot dogs in America?

A. Well, since I’ve been in Portland, I had a Mac-n-Cheese dog topped with bacon, so that pretty much wins.

Q. What do you appreciate most about working at HealthCo?

A. The staff and the work environment are second to none.

Q. Cubs or Sox?

A. Sox