PhysicianXpress was built from the ground up, around an independent medical practice (two office- two provider group). Our team mapped out the entire revenue cycle and leveraged developers to build the Revenue Cycle Management System of PhysicianXpress.
We started PhysicianXpress by investing years into learning how to operate a profitable pediatric office, prior to developing software, systems, and processes that can be used in medical practices. We truly understand how to own, operate, and manage a medical practice because of our past experience.
We have been in business since 2007, and we consistently achieve results for our clients. We learned that most clients want a solution for their practice that supports optimal healthcare delivery and reduces administrative work while expanding their total revenue/income for the providers.
Managing the complex revenue cycle consistently and appropriately is a different skill set than other operations of a medical practice. The skill required to optimize the revenue cycle is much different today than years ago. Knowing this, we researched and developed an optimal solution to benefit medical practices.
We learned that a priority for medical practices is for providers to be able to treat patients with a consistent and predictable revenue collection system. The revenue cycle can be complex since the payer and patient both pay a portion of the bill in many cases as well as ranges insurance contracts, payment rates, and claims payment rules. The complication in the revenue cycle over the last 20 years is a major factor for many providers to either sell their practices or operate in an ineffective manner. The old approach of an independent practice managing all aspects of their medical billing is usually not cost-effective and/or is a burden to the practice owners, requiring constant learning, management, and monitoring of the revenue cycle and staff performance.
While seeking a better solution to manage the revenue cycle, we evaluated the billing process of hundreds of practices and noticed that there were many common issues that are obstacles to optimal and consistent Medical Billing Results:
We also noticed that most practices have significant gaps in specialty-specific billing rules, such as collecting their reimbursable claim dollar (total contract amount collected from patient and payer). Some practices have gaps that are more significant than others, since most are collecting payments from insurance and patients at the national average and below the Medical Group Management Association Benchmarks. PhysicianXpress not only collects above the national average, but also significantly above the Medical Group Management Association (MGMA) benchmarks of success.
We understand that managing the revenue cycle requires high focus, monitoring, and management. We also know that this workload is adding to the management of other components of a medical practice for practices that manage their own Medical billing.
We are aware of our clients’ needs to reduce complexity, so we develop processes and systems to simplify the work required by the office. This leads to a collection of >99% of the total reimbursable amount.
The usual requirement of our clients is to check patients in, see patients, and close their charts in the system. We designed, developed, and implemented a system that allows providers and staff to manage their business effectively and in a logical matter.
The PhysicianXpress Electronic Health Record and Medical Billing System was built on a flexible platform, so the system could be configured to the needs of independent pediatric offices. It keeps pace with providers without slowing them down, so they can see 30+ patients per day. The system also develops automated rules related to billing for well visits, sick visits, and vaccines (including admin codes).
After a number of years of continued success at averaging a collection rate >99% for our pediatric practices, we transferred our Revenue Cycle Management knowledge and processes to service a large distributor of a Specialty Medical Device (DME Industry).
We continue to develop our product, processes, and people at PhysicianXpress. We appreciate our clients and are dedicated to supporting them and their patients.
Practice owners should expect consistent performance, inclusive pricing, and a customer service model that is customer-friendly. We provide all of this at PhysicianXpress and strive to improve every year.