ChartLogic, a leader in electronic health record solutions for specialty and primary care physician practices, today announced a partnership with billing solutions powerhouse, Kareo, that will allow the company to offer its clients best-of-breed revenue cycle management.
ChartLogic is known for harnessing the power of intelligent voice commands to expedite and simplify the electronic charting process. Combined with a single-screen layout, physicians are able to complete an exam or encounter note in less than 90 seconds. The company is also recognized for having superior content, functionality and workflows tailored to surgical and other complex areas of medicine, such as orthopaedics, otolaryngology, ophthalmology, pain medicine, neurology, cardiology, urology and gastroenterology.
"Kareo and ChartLogic share a common guiding principle," says Zubin Emsley, President and CEO of ChartLogic. "Both companies believe the future of private practice physicians is reliant on their ability to maintain strong financial health."
Emsley explains that many private practice physicians, in spite of wanting to remain independent and unencumbered, believe being purchased by a hospital or health system may be their only viable option. "They've watched their revenues decline year after year, in spite of seeing as many, if not more, patients," says Emsley.
The efficiencies of electronic charting over paper charting have proven considerable for ChartLogic customers, most of which have experienced as much as a 60% reduction in charting-related overhead after only one year. However, the need to optimize reimbursements, collections and cash flow remains significant. No matter the payer mix, case volume or geography, statistics show that errors, denials and disputes consistently result in lost revenue of 10% to 30%.
"With a revenue cycle management program from Kareo, private practice physicians can stop wondering whether their billing staff are doing everything they can and should, and if it is correct," Emsley asserts.
Mutual customers will employ ChartLogic EMR to support clinical operations and Kareo revenue cycle management to support practice operations. Emsley explains that Kareo's team will take care of the entire claims continuum; they will provide customers complete and detailed financial data as well as graphical dashboards showing key metrics. Kareo will also coach practice administrators on areas of potential improvement.
"It's no secret a large percentage of private practice physicians are making less money now than in previous years, and they fear their survival," says Dan Rodrigues, CEO and founder of Kareo. "The combination of ChartLogic EMR and Kareo revenue cycle management is a powerful way to reverse this trend, allowing private practice physicians to not only endure, but to thrive."
Forming the partnership is a very important and strategic move for ChartLogic and Kareo alike, according to Emsley and Rodrigues. The two companies have worked closely to integrate their respective technology platforms, both of which are cloud-hosted, and to assimilate their implementation, training and support resources.
"Practices that purchase the combination of ChartLogic EMR and Kareo revenue cycle management will experience a very cohesive and unified marriage of technology and personnel," according to Chris Langehaug, Senior Vice President Operations of ChartLogic. "We see this as the single most important element in shepherding the success and satisfaction of our mutual customers."
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