Medical Billing Service Built on InterSystems CACHÉ Database Exceeds Industry Average Revenue Delivery to Providers
CAMBRIDGE, Mass.—May, 2011— InterSystems Corporation, today announced that Cape Medical Billing (CMB) is setting a new competitive standard for fast revenue delivery with the HPlus Signature System from Healthpac Computer Systems, Inc. Built on the InterSystems CACHÉ high-performance object database, Healthpac’s HPlus Signature application is making it possible for CMB to achieve revenue delivery from insurers and patients as fast as five days from when they were billed.
“The industry standard to measure the speed of medical payments is “days in accounts receivables (AR),” explained Rich Papperman, CEO of the medical billing service firm. “Too many days in AR results in lost revenue. For many medical specialties, CMB is among the best in the U.S.,” he said. “For example, the industry average days in AR is more than 50 days for family practice providers. In contrast, CMB averages less than 20 days in AR for that specialty. Similarly, CMB averages less than 30 days in AR for charges in the area of mental health compared to an industry average of more than 65 days. Those results are extremely compelling.”
InterSystems is a global provider of advanced integration, database, and business intelligence technologies for breakthrough applications. Healthpac, an InterSystems application partner, offers comprehensive medical billing and practice management software to health care providers and medical billing service firms across the U.S.
High Performance, Ease of Use on Web Mean Client Satisfaction
High performance, advanced features and smooth integration with application software were critical to Healthpac’s decision to make the HPlus Signature product available on the CACHÉ database platform, according to David Runion, Healthpac Development Director. “We certainly wanted to make the product Web-based to increase end-user productivity, but that was just one requirement,” he said. “We needed a database that enables state-of-the-art graphical views and provides a rich set of capabilities for easy customization, while also delivering rapid performance. CACHÉ definitely fulfills all of those requirements.”
“We’ve been very pleased with Healthpac medical billing software…in fact, CMB was a beta customer for Healthpac’s HPlusPro medical billing system,” Papperman said. “The CACHÉ-based Appointment Scheduler is easy to set up on the Web for our clients and that’s important since they’re focused on patients rather than on technology. And, the high-performance database technology provides the fast response clients prefer so they don’t have to wait for new screens to appear,” he continued.
CMB clients simply print customized charge forms for each patient, complete them after the visit, then scan and upload to the CMB FTP site. “By providing an easily updatable charge form, accuracy and productivity are improved, resulting in faster revenue generation for the client,” Papperman explained. The productivity curve is still being improved since many CMB clients have moved to data entry via a digital pen device, according to Papperman. “By combining the digital pen with the CACHÉ-based Healthpac applications, data entry productivity has effectively doubled…and we’re getting new clients as a result of the technology that we now offer.”
“Healthpac’s transition to offering medical billing software applications on the Web exemplifies the flexibility and creativity of InterSystems’ application partners,” said Paul Grabscheid, InterSystems Vice President of Strategic Planning.
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