The consumerization of healthcare is dramatically changing the equation for providers. Competitive pressure is forcing physicians to invest in new technologies and processes designed to improve the patient experience, all while they’re seeking ways to grow their bottom line. Thanks to innovative technology available today, practices can simplify billing and identify new revenue opportunities. One company making this possible is Greenway Health.
Greenway, a market leader in the U.S. healthcare space for more than 40 years, provides software and services to ambulatory practices so physicians and their office staff can better run their businesses, nurture their practices, and ‘provide better care’ for ‘their’ patients. The company provides services that create value for providers and patients through a proven team of clinical, financial and technology experts committed to innovations that keep people healthier and happier. Their primary focus: to make patient-driven care a reality while navigating the ever-changing healthcare system.
To date, Greenway has partnered with more than 10,000 organizations and 75,000 progressive providers across more than 40 specialties, which translates into more than 100 million lives that are touched by its solutions. All of Greenway’s solutions and services are designed to meet its company-wide goals of ‘delivery high quality solutions that create value for providers and patients.’ The company aims to expand possibilities in care, contributing to the success of its customers in ways no one else is doing in the industry.
Prominent Services for Managing the Revenue Cycle
Greenway goes beyond Electronic Health Record (EHR) and practice management solutions, providing its customers with integrated, user-friendly tools, such as Greenway Revenue Services (GRS), the top-rated revenue cycle partnership chosen by high-performing practices of all specialties to improve their focus on patient care while increasing their revenue. Excelling in denial management, consultation, and billing expertise, GRS’ dedicated teams invest personally to help each practice expand their revenue potential and consults on billing best practices to optimize a practice in the front office, back office, and clinical-side to improve insurance and patient collections. As a revenue cycle management (RCM) partner, its billing expertise and transparency enables administrative staff to shift their focus to regulatory compliance, security and patient engagement.
The Journey to Innovation
Nearly 40 years ago, under a previous name, Greenway helped healthcare providers tackle a major problem by introducing the first-ever practice management system: Medical Manager. The solution revolutionized scheduling, billing and reporting by eliminating paper on the practice side, and is now in the Smithsonian Institute. Following several acquisitions and name changes, the company became the present-day Greenway Health after combining with Greenway Medical Technologies in 2013.
Today, Greenway continues its tradition of innovating, introducing new capabilities to its platforms and products that balance a deep understanding of what’s required today with a keen eye toward the emerging future. The company continues to focus on creating innovative tools and services that help its customers navigate value-based care and capitalize on government incentive programs while keeping their patients, and their practices, healthy. GRS plays an important role in doing that.
In fact, this year Greenway was named a Category Leader for Ambulatory Revenue Cycle Management Services in the Best in KLAS: Software & Services report. The company and its software were recognized for “a true partnership, transparency of financials, expertly trained staff and proactive service.”
Greenway has more than 15 years of extensive experience in revenue cycle management and optimizing billing processes, which enables the team to apply deep expertise in order to efficiently maximize revenue potential. Also, with a key focus on data analysis and metric performance with over 85% of customer excelling beyond RCM industry benchmarks, the firm improves revenue generation. Adding to this is its dedicated team with ongoing communication and transparency, which is often cited by its customers as an extension of their own teams.
An Experienced, Natural-Born Leader
As CEO of Greenway, Richard Atkin brings extensive executive experience to the company. He has a strong background in developing talent, team building and organizational alignment, and has a focus on process-driven management. He received his B.Sc. honors in physics and electronic materials from Bangor, University of Wales, and his MBA from the University of London, Imperial College.
Prior to joining Greenway Health, Richard worked at Vista Equity Partners, serving its portfolio companies, including DealerSocket, EagleView, Finastra, Omnitracs, Solera, and STATS. Receding to his role as an operating principal, he was the president of Vista Consulting Group from 2014 to 2017, where he helped the organization evolve and scale to support the growth in the Vista portfolio. Before joining Vista, Richard was the President and CEO of Sunquest from 2005 to 2014. Prior to that, he was President of Hospital Systems at Misys plc, CEO of Spacelabs Medical, and CEO of Datex–Ohmeda Inc.
A Valued Partner: Helping Healthcare Practices Achieve Their Goals
One of Greenway’s prestigious clients, Dr. Ernesto Gomez with Mesa OB/GYN states, “If Greenway Revenue Services had not come into my life, I don’t think I’d be in private practice today.” GRS educated his billing staff on claim practices and helped update their processes to improve efficiency. The front office staff was trained to improve accuracy on in-take and collecting patient payments. Mesa OB/GYN has doubled its average reimbursement per encounter; improved days in A/R from 54 to 36; grew payments in 60 days to 72 percent. Dr. Gomez only receives 10 percent less revenue than when it had twice as many providers and contributes that adds to the success of his partnership with GRS.
Valley Day and Night, a five-location practice in southern Texas, is another happy Greenway customer. It provides affordable, reliable quality care to about 15,000 patients each month. Upon partnering with GRS, the company uncovered $1 million in uncollected revenue, down-coding visits and opportunities to train internal staff on new billing procedures and improved processes. The key outcomes of this partnership include decreasing denial trends from $100,000 to nearly $19,000 per month; decreasing days in A/R 75% from 142 days to 36 days; and the accessibility to the GRS team for guidance that also opened new doors to additional efficiencies in the practice. Melissa Jareño, Chief Operating Officer of Valley Day and Night states, “I am able to focus on efficiencies because I am no longer worried and focused so much on billing and fighting to bring in every dollar while fearing that my billing department was having trouble keeping up with the workload, and keeping up to date on billing challenges.”
Apart from the success stories of its clients, Greenway has also received several awards and recognitions. Greenway’s revenue cycle management solution received the top KLAS rating for Ambulatory Revenue Cycle Management Services among small clinics in the 2017 Ambulatory Revenue Cycle Management Services report. It was also honored with 2015 Enabling Technology Leadership Award for the U.S. Ambulatory Electronic Health Record Market by the consulting firm Frost & Sullivan.
Future Roadmap: What’s Ahead for Greenway Health
The average revenue improvement seen by the company’s practices after switching to GRS is 6%. Moreover, net collections average 97% for those who partner with GRS. This is a true testament to how GRS helps practices simplify billing and identify new revenue opportunities while also providing the consultation, expertise and resources practices need to achieve their financial goals. Moving forward, Greenway plans to continue meeting the needs of its customers in the evolving healthcare landscape, providing tools and solutions their customers need to achieve success with value-based care.