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EHR

Your EHR: Cost Center or Revenue Center?

Your EHR: Cost Center or Revenue Center?

What is the first thing that comes to mind when you think “Electronic Health Record”?

Some comments may not be family friendly.

More than likely, the last thing that comes to mind concerning your EHR is how much revenue it has generated for your agency this month.

However, with an Advanced Agency Management Platform such as OnTarget, that is exactly what you will be realizing.

If history within healthcare can teach us anything, then the experience of physical health organizations is one that we in the Intellectually Developmentally Disabled and Mental Health fields can learn from their experiences.

For example, hospitals have been facing decreasing reimbursement and increasing expenses for decades.  Sounds very familiar to IDD/MH.  Their profit margins and cash flow have been notoriously slim with many organizations closing.  Again, similarities to IDD/MH.

When hospitals implemented EMR systems, it was usually by stick rather than a carrot that moved them forward.

Interestingly, hospitals today are experiencing healthy profit margins and cash flow.  Just take a look at most any hospital and you’ll see the construction of some sort occurring and you’ll see where all that money is going.

Yet, reimbursements continue to go down and expenses continue to rise.

What has changed is utilizing data to provide better clinical outcomes at lower costs.

In the IDD/MH world, the first generation of EHRs is simple.  They keep you compliant.

Why would you not want more?

The OnTarget Advanced Agency Management Platform has documented success in generating revenue for agencies over the last 15 years.

For example:

A small agency billing $7,000,000 typically does the following:

Actually, bill 85% of authorized services or $5,950,000.  Of that number, usually, 90% of those claims are actually recognized or $5,355,000.

The same agency utilizing the Ontarget Platform are recognizing $1,228,500 more in revenue each year.

Billing 95% of authorized services or $6,650,000.  Of that, 99% of those claims are paid or $6,583,500

So regardless the EHR you’re using, ask yourself if you are getting these results.

More importantly, why are you not getting these results?

Reach out to info@aymira.com for more information, we’d be happy to share our best practices with your agency.

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