What's My ROI With NextGen?

Software purchasing decisions are based on numerous factors: system performance, features, service, support, to name a few. But eventually it comes down to your bottom line – what will my return on investment be with NextGen?

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Transcription savings

• $344,000 over two years – Huron Gastroenterology
• $344,000 over two years – Ann Arbor Area HIE
• $250,000 per year – Graybill Medical Group
• $126,000 annually/$10,500 a month – North Carolina Orthopaedic Clinic
• $100,000 a year – Tri-County Eye Physicians & Surgeons
• $98,000 annually – Cardiovascular Management of Illinois
• $45,000 - $50,000 a year – Northwest Neurospecialists
• $30,000 annually – Vision Associates
• $10,000 a year – Horizon Eye Care
• Dropped from $5,000/month to $500/month – Spaeth, Katz, Myers, P.C.

Higher Reimbursements

• Several $100,000 increase with better coding, other savings – Hays Orthopaedic Clinic
• 120% increase in revenue per patient encounter – Tri-County Eye Physicians & Surgeons
• 12% increase in patient volume or $3,600/day or $936,000/year more – Katzen Eye Group
• $65,000/year increase in billing – Vision Associates
• $250,000/year more due to better reporting – Cardio. Management of Ill.
• Saves $18,000/year through improved billing – Huron Gastroenterology
• Reporting revealed undercoding by 40-60% – Medical Advanced Pain Specialists

Staffing savings

• Reduced staff by 32 FTEs, saving $692,000 annually – Heart & Family Health Institute
• $200,000 savings a year by interfacing equipment – Barnet Dulaney Perkins Eye Center
• Reduced staffing costs by $641,000 over four years – Huron Gastroenterology
• More than $330,000 saved annually in staffing costs – Cardiology of Tulsa
• Added 8 providers without hiring additional administrative staff – Huron Gastroenterology
• Reduced FTEs from 10 to 4, decreasing expenses by 9% – Graybill Medical Group
• Saved .8 FTEs only eight months after implementation – Kittitas Valley Community Hospital
• Reduced charge entry staff by 1.5 FTEs – Illinois Heart and Vascular
• Using the referral template, reduced 1 FTE, saving $30,000 – Comm. Care Family Med.
• Reduced FTEs by 1.5 – Ironwood Dermatology

Pay-for-performance Incentives

• 1.5% in Medicare reimbursements for 2007 PQRI measures – Huron Gastroenterology
• Will be eligible for 2% Medicare bonus in 2009 – Ironwood Dermatology
• 100% PQRI compliant for 46 of 47 providers using 4 Medicare indicators – Cardio. Mgmt. of Ill.
• Easily able to report PQRI numbers to Medicare – Mass. Eye Research and Surgery Institute

Improved A/R

• From 50 to 20 days – Northwest Neurospecialists
• From 54 to 24 days – Katzen Eye Group
• From over $20 million down to $13 million or reduced days by 1/3 – CINN
• Went from over 60 days to the 0-30 days bucket – Spaeth, Katz, Myers, P.C.
• Reduced by more than 10 days – Ironwood Dermatology
• Within first three weeks of implementation – HeartPath Cardiovascular Services

Decreased Claims Rejections

• Produce clean claims 97% of time – Horizon Eye Care
• Claims denail rate reduced from 22% to less than 5% – HeartPath Cardiovascular Services
• Denial rate down by 3% – Graybill Medical Group
• Electronic submission failure rate less than 1% – Graybill Medical Group
• 95% claims billed electronically and moving toward electronic secondary claims – CINN

Better Collections

• $250,000/month increase without changing processes or staff – All Fla. Orthopaedic Assoc.
• Collected $100,000 of backlogged A/R – Ironwood Dermatology
• Improved collections process by 3% – Jacksonville Heart Center

Going Green

• Office supply expenses dropped by $1,000/month – Katzen Eye Group
• Save $6,000 annually in supply costs – Vision Associates
• Removed $99,000 in paper storage fees over three years – Huron Gastroenterology
• Save $60,000 annually on paper, storage – Heart & Family Health Institute
• Save more than $48,000 annually on paper charts for new patients – Cardiology of Tulsa
• Saved $68,000 on office supplies, medical records, storage – Graybill Medical Group

Miscellaneous

• Charges increased 15% - Vision Associates
• Reduced new employee orientation from 8 weeks to 1 – Cardiology of Tulsa
• Saved approx. $20,000 using the SaaS model – HeartPath Cardiovascular Services
• Saves several hours a day and is able to get home on time – physician from Hays Ortho. Clinic
• Days in audit review declined 35% – Vision Associates
• Have not lost a patient chart in six years since going paperless – Katzen Eye Group