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MedAdvizorHematology Oncology Associates Focuses on Financial Best Practices to Improve Performance Kari Young is the practice administrator at Hematology Oncology Associates of Albuquerque, New Mexico (HOA), a single-site medical oncology center whose practice consists of six providers, including one physician who performs genetic screening and counseling for patients and family members with hereditary cancers. In addition to standard patient cancer treatment, HOA has participated in clinical trials for over twenty years. Kari is the primary user of MedAdvizor at the site. She discovered the software when her practice was searching for an Electronic Medical Record vendor three years ago. As part of their search, they visited a clinic in St. Louis that was using IMPAC's MOSAIQ EMR software, along with MedAdvizor. They recommended using MedAdvizor because of its superior functionality and ease of use, which resulted in HOA's purchase of MedAdvizor, implemented last year. Kari has found the Financial Analysis Dashboard particularly helpful for budgeting, strategic planning, and cost center analysis. All of these areas have been quick and easy to analyze using MedAdvizor because of its rapid data mining capability and graphic visualizations. Kari noted that, "Five years ago, one item on my wish list was to be able to press a button and see a report." That's no longer on her list. What used to take weeks of non-stop research and manipulation to create Excel spreadsheets now takes Kari only a couple of hours. For Kari, the key benefit to her and her practice has been substantial time savings and the ability to take on other projects. Kari noted that having all the data available in a visual form for the providers to see was a significant part of its value. HOA's physicians were pleased to see important information in a graphical display, including their highest revenue-producing CPT code and which providers were most revenue-producing for the practice. When it comes to strategic planning, Kari has used MedAdvizor to ameliorate HOA's position with regard to their payer mix. She can also look at their referral mix to make sure they are not too dependent on any one referring source. MedAdvizor has also helped in the area of marketing, making sure they are communicating well with their top referrers and target audience for the center. The software also helps for cost center analysis in one of their niche businesses, Genetics Counseling. The software allowed Kari to quickly filter out HOA's data to identify revenue generation associated with the physician who serves as the Genetics Counselor. She could quickly isolate the data down to single year, single provider, CPT codes and consults, to distinguish what revenue Genetics Counseling produced around patient visits as compared with other types of treatments. She could then answer the question, "Are the expenditures justifying the Genetics Counseling cost center?" Kari anticipates expanding the use of Clinical Analysis Dashboard to include chart review, tracking critical outcomes, evaluating standards of care to determine whether HOA is excelling or simply meeting standards, and tracking clinical trials. MedAdvizorwill enable her to identify which patients meet the criteria for research and tracking set by the New Mexico Tumor Registry. Other applications where this same approach can help include: denial tracking, volume/counts data analysis, scheduling analysis, and tracking patient flow. In light of the easy and rapid data mining for financial and clinical analysis for Kari, the clear, easy to understand visualization capabilities for the physicians and other stakeholders, and the future benefit potential, the application provided a solid return on HOA's investment in the this software. |
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