The clipboard is as much a part of the doctor’s equipment as the stethoscope. Information about the patients is tracked and charted, both for diagnosing problems and for billing information.
What many patients don’t realize is that each procedure and treatment is assigned a code according to a complex set of standards so insurance companies and Medicare can process the claim. Coding takes a lot of time, but technology is changing that.
“PhysicianSuite allows doctors to chart within a fraction of the time they do today,” says Charles Koo, CEO of Imedica, manufacturer of the device. “On average, the doctor spends five to 10 minutes per patient on charting. Using our product, the doctor can chart in 60 to 90 seconds.”
PhysicianSuite uses an electronic “clickboard” with a pen and touch screen, so the doctor doesn’t have to write or type anything. The device takes the information input and generates an HCFA (the coding standard) compliant code.
Another area in which physicians lose a lot of time is in pharmacy callbacks.
“When a pharmacy receives a prescription from a doctor, they check drug interaction and whether it complies with the insurance carrier’s formulary,” says Koo. “Every payer has its own formulary, so it’s a complex issue. A lot of doctors will have to reissue a prescription so a patient doesn’t have to pay hundreds of dollars extra for drugs.”
A formulary is a list of approved drugs by a specific insurance company. A drug not on the formulary will receive either no reimbursement or only partial reimbursement.
PhysicianSuite reduces the chance for error by automatically checking for drug interactions, comparing what was prescribed to a database of current insurance carrier formularies, and identifying any problems. The prescription can then be sent electronically to any of 33,000 drug stores nationwide.
“They don’t even have to worry about their writing,” says Koo.
The system is designed to be scalable, serving one doctor or several hundred. The units are preconfigured with all software preinstalled. The cost is a subscription fee of $6 to $7 per day per unit. Some training is required, but Koo says most doctors pick it up rapidly after a few weeks of usage.
“The return on investment is about 100 times,” Koo says. “After a week or two of getting used to it, they will see a benefit right away. The major benefit is from the HCFA coding. Most doctors are conservative and tend to undercode in billing. They don’t code as accurately as possible.”
Conservative coding could be costing a physician between $700 and $1,000 per day.
“On the charting, they’ll save five minutes per patient, with an average of 25 patients, that’s 125 minutes per day. They can either use that time to spend with their family, their patients, or to see additional patients.
“In addition, there will be no transcriptions necessary, so doctors won’t have to pay an average of $8,000 per year on that service.” How to reach: Imedica, www.imedica.com, or (877) 637-8483
Todd Shryock ([email protected]) is SBN’s special reports editor.