In an industry that is in a constant state of evolution, regulatory transformation and stiff competition; it can be heartening to know that the more things change in healthcare the more they sometimes stay the same, at least when it comes to healthcare information technology and enterprise practice management.
MedInformatix has been a fixture in the practice management industry for more than 30 years. Formed out of the simple mission to leverage technology to make medical practices more efficient, Pat McGonigle and two business associates combined their healthcare management and automated billing expertise in the late 1980’s to create an innovative solution where practices could better manage the data flowing through their operation while improving their cash flows and profit margins.
But just as healthcare has evolved, so too has MedInformatix. McGonigle, who serves as President and CEO of the Los Angeles-based company, has presided over an expansion of the once ambitious but small software as a service (SaaS) provider into an innovative healthcare information technology company serving a nationwide network of clients. Indeed, MedInformatix has earned a reputation as an enterprise-wide innovator intent on bringing new technologies to healthcare that enable today’s busy practice to engage more deeply with their patients, while at the same time, streamlining internal processes and workflows so a better level of care is provided. The result is a more productive, profitable practice and a more meaningful and trusted relationship between physicians, clinicians, administrators and patients. McGonigle believes this leads to a better quality and delivery of care.
RCM Summit: An Industry First
This approach was on full display earlier this year when MedInformatix held a two day summit on the business critical function of revenue cycle management. Believed to be the first of its kind in the industry, the summit brought together a cross-section of radiology clients to share best practices, discuss ideas for systems improvement and explore opportunities to maximize their enterprise’s productivity and profitability.
Attendees took an in-depth look at current and future regulatory trends and best practices, and launched a new product roadmap on how MedInformatix can help practices more fully optimize their revenue cycle.
McGonigle says that in an industry where solutions are routinely viewed as “me-too,” the MedInformatix approach to revenue cycle management is tailored to each customer’s unique needs. “Our teams study a practice’s workflow, payor mix and demographic composition right out of the gate to determine where opportunity exists to maximize revenue. Then, working with our industry partners and specialist in revenue cycle management, we construct a one-of-a-kind infrastructure to position clients where they need to be”, asserts McGonigle.
McGonigle was pleased with the results of the summit and believes the deliberations made MedInformatix a more connected partner to the practice management needs of the company’s client community.
Whether it’s due to its historical past or its more recent legacy with initiatives like the RCM summit, MedInformatix has become synonymous with leading edge enterprise practice management, electronic health records and radiology information systems solutions.
No Time for Slowing Down
MedInformatix is not slowing down. In fact, McGonigle and his team are ramping up efforts to shape the future of healthcare practice management.
Company executives have taken part in recent efforts by the Healthcare Administrative Technology Association (HATA) and the National Committee on Vital Health Statistics (NCVHS), the public advisory body to the U.S. Department of Health and Human Services on health data, statistics and national health information policy; to spur ongoing innovation in the healthcare industry.
At the center of these efforts is the adoption of a Predictability Roadmap, an NCVHS initiative that would provide the healthcare industry with greater certainty in the timing and sequence of new HIPAA standards, regulatory mandates and federal legislation that impact how medical centers and practices conduct their business.
HATA, the nonprofit association representing healthcare administrative technology and the practice management systems industry, is taking an active role in shaping the Predictability Roadmap. In 2017, they launched a task force to engage the practice management community on the implications of the roadmap and what they can do to help shape its final form as NCVHS moves closer to adoption. MedInformatix is a founding member of HATA and is co-chairing the association’s Predictability Roadmap Task Force.
According to Chris Bruns, MedInformatix Director of Product Development and immediate past president of HATA, the association is hopeful the roadmap can increase adoption of electronic data interchange across the industry, reduce administrative costs of manual processes and gain the ability to place information within the PMS workflow, among other benefits. “This has been a major undertaking and our task force is to be commended on its comprehensive approach at engaging the practice management community. Our members represent the end user experience and their perspective is invaluable if we are to improve the way we deliver healthcare in this country.”
The task force recently submitted the following recommendations to the NCVHS Predictability Roadmap, designed to:
- Streamline and automate interoperable information exchange through required standard transaction usage, including electronic data interchange enrollment, predetermination, downloadable fee schedules, prior authorization requirements and online automated appeals.
- Promote information exchange that meets the identified business needs of all stakeholders while realizing administrative cost savings.
- Adopt use of a standard data dictionary, semantic compliance, proactive compliance audits, increased payer-specific transparency and safe harbor allowance for required transactions.
- Encourage interoperability principles for meaningful information exchange.
- Validate the business needs and the positive return on investment before adopting new standards or operating rules. This validation should include determination of when a standard makes business sense to implement or when a business need can be met with an existing standard or alternative for a subset of an industry.
- Facilitate the convergence of administrative and clinical data to meet business use cases, interoperability principles and the exploration of emerging administrative and clinical use cases.
- Spur innovation and stay ahead of information exchange needs among stakeholders by the selection of a multi-stakeholder organization or association to monitor emerging trends and develop recommendations to the committee.
“The Predictability Roadmap is an initiative whose time has come. With 20 years of HIPAA and several version migrations under our belts, now is the perfect time to chart a more efficient course for versioning,” added Bruns. “We are thrilled to be working with our clients and industry colleagues to shape the future of practice management moving forward.”
MedInformatix is also actively engaged with the Office of the National Coordinator for Health Information Technology, the regulatory body at the forefront of the federal government’s health IT efforts. Here company representatives advocate on important issues related to MACRA, the Quality Payment Program and other mandates that are impacting their clients and the practice management marketplace.
It’s a full plate, but McGonigle wouldn’t have it any other way. He credits a top-notch staff and an engaged client community that he refers to as family. McGonigle is bullish on the course his company is charting as well as the direction of healthcare IT. “We’re at a good point,” the CEO says. “Our future looks as ambitious as our past.”