MedVantage Consulting, LLC
Annual Wellness Visit (AWV)
Annual Wellness Visits
The Medicare/ACA Annual Wellness Visit (AWV) is one of the most misunderstood features of the new laws concerning Healthcare. While most providers avoid it in the belief that it is a huge time waster with low reimbursement, we have shown many physicians that it can be a very profitable component of their practices. In fact, some doctors are opening clinics expressly to perform AWVs and to capture the reimbursements for the many referrals that can be produced using the resources and methods we offer
Not only have they learned that the physician, though he can do AWVs, is probably the worst person in the practice to be doing them, but that a mid-level, or even a trained Medical Assistant can do the AWVs under the supervision of the doctor. Thus, the physician's time is not consumed and several AWVs could be concurrently in progress. Further, using the specialized software that we provide, every AWV will be compliant with the regulations.
Compliant AWVs are an important part of preventative medicine for your PQRS and help Healthcare Professional's avoid Medicare reimbursement penalties.
Revenue Cycle Management
And for practices suffering from the common problem of poor reimbursement records from both commercial and government insurance, we offer the premier Revenue Cycle Management (RCM) solution on the planet. The same technology and expertise that was developed for the largest hospital systems in the world are now available to any size medical practice.
Clinics, single-doctor practices, laboratories, hospitals, virtually any healthcare business that bills medical insurance can benefit immensely from our service—and it does not cost a thing! You receive a guarantee that it will bring more new revenue into any operation (without your adding even a single procedure) than it costs, or your money is refunded. We will even do a look-back study of your past year’s billings and analyze every unpaid or underpaid bill to determine why it was not paid, correct it, and re-submit it.
Did you know that industry-wide 65% of billings are paid and 35% are denied, and of those paid many are underpaid. CMS says that 44% of hospital billing dollars go unpaid as a result—and hospitals can afford the most sophisticated billing systems and methods. How much would it help your practice to increase the percent of bills that are paid, and paid in full?
Did you know that under coding to avoid being audited can actually raise flags that trigger an audit? You are required to code correctly!
Latest Medical Technology
Modern technology enables a practice of any size to add new capabilities at little or no cost. Many diagnostics that would previously have been referred to a specialist, or to a hospital with millions of dollars worth of sophisticated equipment, can now be done within your practice. Many of these things go hand-in-hand with the AWV (boosting reimbursements even further); and many can also be used in your broader practice. Computerization and miniaturization have brought the cost of much equipment down dramatically, and have also simplified the administration of many cognitive, neurological, and even brain function tests so that most can be done by a mid-level staff member. We also offer genetic and toxicology testing using our highly-reputable laboratory affiliates.
Liability Risk Management
Every time a doctor prescribes any medication for a patient the practice is exposed to risk. Adverse Drug Reactions (ADRs) occur over 2 million times a year in the US. More than three-quarters of a million patients are hospitalized as a result and over one-hundred-thousand die—even though they made no mistake following the doctor’s instructions, which were entirely correct. The only way to determine in advance whether a medication will be safe and effective for any patient is through a Pharmacogenetic (PGx) test. No two patients are identical and a simple buccal swab sent to our Genetics laboratory will yield an accurate report on how the patient metabolizes nearly any drug that might be prescribed.
Also, one of the biggest problems in medicine is non-adherence (or non-compliance) to the prescribed regimen. Often this is unintentianal—an accidental double dose because the patient did not remember having already taken the medication, or missed doses for similar reasons. The simple, inexpensive compliance device we introduce to our clients can greatly mitigate this problem.
Regulatory Risk Mitigation
Then, there are intentional diversions or mis-dosing of the prescribed medications–abuse. Toxicology testing by our laboratory will reveal whether the patient is taking the prescribed medication in the proper doses, and if altering the dosage might be recommended. It is easy to see how a practice that is utilizing our state-of-the-art capabilities can greatly reduce the probability of negative outcomes from patient treatment and, thus, the exposure to liability and regulatory risk.
Many Providers may not be aware that the traditional definition of Standard of Care is being gradually modified by trial decisions from “customary practice” to what they could and should have known and done.
We specialize in increasing revenue and compliance and reducing liability for our clients. Thank you for considering us for your Revenue Generating and Risk Management Solutions.