Create A 3-In-1 Healthcare IT Advantage
By The Business Solutions Network
This healthcare IT solution provider won a $6 million managed services contract with a large clinic by combining managed services with EHR (electronic health record) workflow consulting and outsourced billing services.
The healthcare market offers lots of opportunities for IT solution providers and managed services providers (MSPs), and the market is forecast to grow at a compound annual growth rate of 7.4 percent to reach $31.3 billion by 2017, according to Research and Markets. ConXit Healthcare Technology Group (ConXit) is a 50-employee consultant and IT solution provider that is combining expertise in EHR, billing services, and more recently, managed services to create a triple-threat differentiator among competitors.
A Network And Accounts Receivable Assessment Reveals Multiple Pain Points
One of ConXit’s first managed services clients was a clinic in Illinois that had three locations and 60 employees, including a billing department comprising 10 full-time employees and one part-time person. The clinic was struggling with payment collections and reached out to ConXit for help. “Due to billing workflow inefficiencies, a decreasing collection rate, and other factors, the practice had accumulated more than $7 million in accounts receivable,” says Corey Price, CMO at ConXit. Additionally, the practice had used multiple EHR systems over the past four years and still wasn’t satisfied with the ROI and workflow of its current EHR system.
ConXit recommended a practice assessment, which included pulling several months of A/R reports and installing agents on the clinics’ network to check its overall IT health. “Over a one-week period our assessment team evaluated the clinic’s invoice denials, rejections, and payment collections, including lost or missing charges. Additionally, our director of managed services evaluated the findings from the network scan, using AVG Managed Workplace.”
After a week of reviewing reports, the ConXit team — which included the company’s CEO, director of client services, and director of managed services — met with the clinic’s director, along with several physicians and practice managers to review the results. “The assessment reports revealed that the clinic’s administrative employees were averaging two hours per day on social media while at work,” says Price. “We recommended AVG 
Managed Workplace, which includes RMM [remote monitoring and management], antivirus, anti-spam, and content filtering — a feature built into the AVG Managed Workplace software — that would allow the client services director to block certain sites outside of lunch hours.”
ConXit also recommended new EHR workflows and consulted with the practice as a meaningful-use advisor as well as using ConXit’s revenue cycle management (RCM) solution to streamline the clinic’s billing and maximize its collections. “Our billers and coders have an average of 10 years of industry experience, that when combined with our RCM solution, has been proven to increase collections by as much as 25 percent,” says Price. “It’s always a sensitive topic when asking a billing manger to reallocate his entire billing department, but it is hard to ignore the black-and-white facts of the situation.”
Managed IT And Billing Service Provide Immediate Results
The clinic went with ConXit’s full recommendation, and within a few weeks of signing a contract, it was switched over to the AVG Managed Workplace and ConXit’s RCM billing services. “We also helped them get more ROI out of their existing EHR by integrating with drivers’ license scanners, electronic fax machines, and other third-party entities and systems to improve their data collection and workflow processes,” says Price.
To date, ConXit has recouped more than $100,000 of the clinic’s outstanding payments, and it’s projecting it will more than double that amount over the next 12 months. Additionally, ConXit has greatly improved the clinic’s HIPAA compliance by adding AVG Business SSO [Secure Sign-On] to all mobile devices used within the practice. “This tool eliminates the burden of having to remember long passwords by providing single secure sign-on with multi-factor authentication and password management.”
ConXit also set up monthly reporting through AVG Managed Workplace to help its customer track hardware warranties, server health, network security, and toner/ink levels on networked printers and imaging devices. “We have a dedicated full-time person assigned to this customer, plus a remote staff in our Charlotte office that follows up with any alerts created by the RMM tool,” says Price. “The managed services portion of this project alone will yield $6 million in revenue for our company over a five-year period, which further confirms the value of being able to pull together experts in various subject areas and offer a comprehensive solution under one umbrella.”