The cost for the service is 2.9 percent of monthly collected revenue and that is obtained through using portals and other offerings in the EHR package. Below is a screenshot from the website and you can see that when enrolled in the Revenue Cycle Management program with 2.9% of the practice collections being the cost, the EMR comes free. eClincialWorks has to be one of the leaders with integration as they were first in line when Google Health (which has now been discontinued) and HealthVault PHRs originated. This makes it easy to give patients the options of having access to their records even outside the ECW portal with simple sharing.
“Get your own private cloud that is accessible with an Internet connection anytime, anywhere. Customers on the eCW Cloud will also get access to eClinicalWorks Nimbus™, an innovative system-downtime solution to keep your practice functioning during EHR outages.”
The recent press release is as follows:
SAN ANTONIO, Oct 22, 2012 (BUSINESS WIRE) — eClinicalWorks(R), a market leader in ambulatory clinical systems, today announces eClinicalWorks Revenue Cycle Management (RCM) to aid medical practices in optimizing billing. As a company, eClinicalWorks is sending more than one million claims daily and is now making this service generally available for customers for 2.9% of monthly collected revenue. This rate also includes the complete electronic health records (EHR) suite by eClinicalWorks, on-site training as well as support.
“We chose to have eClinicalWorks handle our billing for the benefits of having everything tightly integrated and the price point was very attractive,” said Dr. E. Wynn Kallay, Southeast Georgia Pediatrics, LLC. “It has worked great for us. eClinicalWorks is easy to use, we can generate financial along with clinical reports and it has saved us a lot of time. It is great to have one system for both the clinical and financial aspects of our practice.”
Automated claims scrubbing tools within eClinicalWorks produce a 98% first-pass acceptance rate, resulting in more claims being accepted at the clearinghouse and immediately forwarded on to the insurance payer. The Medical Group Management Association estimates that physician practices incur rework costs of approximately $15 per claim that is rejected. By improving first-pass acceptance rates, physician practices can dramatically improve financial performance.
“Currently, the market serving ambulatory practices with billing and revenue cycle management services is highly fragmented,” said Judy Hanover, research director with IDC Health Insights. “With first-pass acceptance rates between 70-90%, depending on payer, the industry is looking for more complete offerings that will streamline functions and allow practices to select a few suppliers they trust instead of a new company for each function. By adding risk based-revenue cycle management services, eClinicalWorks is expanding its offering to ambulatory practices.”
eClinicalWorks(R) is a privately held leader in the ambulatory clinical systems market. The company’s comprehensive electronic health records and practice management solution is proven for every market segment: large practice groups, including Massachusetts eHealth Collaborative (MAeHC) and the New York City Department of Health and Mental Hygiene, as well as medium, small and solo practices regardless of specialty. The company enjoys high profitability with a five-year compounded growth rate of more than 100 percent year-to-year. With an established customer base of more than 180,000 providers and 370,000 healthcare professionals across all 50 states, eClinicalWorks has been awarded multiple top industry honors including being named to the Inc. 5000 for the past six consecutive years. Based in Westborough, Mass., eClinicalWorks has additional offices in New York City, Chicago, California and Georgia. More information on eClinicalWorks can be found at www.eclinicalworks.com or by calling 866-888-6929.
eClinicalWorks is a registered trademark of eClinicalWorks, LLC. All other trademarks or service marks contained herein are the property of their respective owners.