Jim Sholeff, CEO, Claimocity
Over the years, busy doctors have been left bleeding when it comes to their time and revenue. Recent studies reveal that most doctors spend only 27 percent of their time on patient interactions and 50 percent of their time on administrative tasks.
Although doctors running private clinics achieve moderate transparency in their processes, physicians operating in acute and sub-acute care facilities (where multiple providers attend each patient) face greater challenges. Due to the lack of systems, mechanisms, or staffing that can guarantee the proper tracking of patients attended, modern doctors working in a complex care environment are left in the lurch - often with no clue when, how, and how much they will be paid for the patient encounters (if they are paid at all). Add to that the challenge of evolving regulatory requirements, and the situation becomes grimmer.
Having observed these challenges closely, the Claimocity leadership of medical billing industry veterans came together to establish a comprehensive solution, building an artificial intelligence (AI)-based mobile practice management platform that guarantees fair and complete reimbursement for doctors working in challenging care environments.
Designed around a core of real-world experiences, the physician rounding app and mobile billing platform is highly intuitive and makes it easy for doctors to capture charges and keep track of missed payments while remaining focused on patient care. “Our combination of next-gen technologies and a customer-centric approach to the end-to-end billing process goes a long way in accurately predicting missed encounters for the doctors,” says Jim Sholeff, CEO, Claimocity. “Our platform’s enhanced user interface (UI) adds to the charm, making it easy for doctors to document patient encounters – on the go.”
Claim Tracker, a vital part of Claimocity’s platform, displays the exact remuneration (in dollars) expected of a patient encounter immediately.
Our platform’s enhanced user interface (UI) adds to the charm, making it easy for doctors to document patient encounters—on the go
The UI also indicates the tentative payment date for every claim, keeps track of it, and notifies when the payment is made. “It works much like your pizza order where you can see the status of your delivery from the moment you place an order,” says Mr. Sholeff.
The only all-in-one client-centric solution with on-demand medical RCM services, Claimocity offers a dedicated around the clock support team, enabling the company’s HIPAA-certified coders and billers to answer doctors’ queries instantly. Plus, the Practice IQ reporting functionality provides doctors with easily accessible actionable insights and key metrics in real time.
In one case study, a PM&R hospital group, using a legacy, mobile-based charge capture tool (basically an electronic patient list) was incurring heavy payment loss. When Claimocity investigated, their audit team found routine gaps in the documentation on care provided to 4-5 patients per doctor, meaning those claims could not be filed. This one single fixable issue was generating a revenue loss of about $17,500 per year per doctor.
In another client engagement study, a large physician group was documenting encounters on paper and trying to claim them on a daily basis. The doctors were not able to completely document all of their patient encounters due to time constraints, generating recurring denials and reimbursement losses. Claimocity was able to reduce the administrative task load per doctor per 20 patients to under three minutes.
The clinical, operational, and financial value of their fully integrated software solution has made Claimocity a notable favorite among hospitalists, physiatrists, inpatient psychiatrists, and physicians working in hospitals, IRFs, acute care facilities, and step down units, as well as the premier PointClickCare software partner for physicians in senior care and skilled nursing facilities.
One of the only physician-centric software and service solutions enabling medical practices to experience consistent revenue growth in 2020 despite the pandemic, Mr. Sholeff hinted at big plans for 2021 with several industry-changing technology-driven initiatives in relation to reimbursement and workflow automation.