Greenway's Cloud-Based PrimeRCM Service Readies Providers for Shift to Outcome-Based Payment and Delivery ModelsNovember 14, 2012 | Industry News Release
Greenway Medical Technologies, Inc., which delivers innovative software and business services solutions for ambulatory care providers through its PrimeSUITE platform, today announced that its PrimeRCM service has been evolved to include a robust rules engine that integrates advanced billing intelligence with clinical care.
In addition to helping speed collections and optimize revenue by generating faster, cleaner claims, PrimeRCM lays the foundation to prepare providers for the shift from fee-for-service to outcome-based payment and delivery models coming to the U.S. healthcare industry.
Improved Claims, A/R and Collections with Reduced Effort
The PrimeRCM rules engine and team of experts deliver deep knowledge of industry compliance and claims-exception data to each practice, clinic or enterprise that adopts PrimeRCM, and the rules engine continuously generates new rules based on transactions specific to each organization. This ongoing fine-tuning helps minimize repetitious errors, with goals to have more than 90 percent of claims paid on first submission, shorter accounts receivable cycles, greater than 95 percent net collection rates and up to a 50-percent reduction in back-office work.
With these advancements, the rules engine now extends to the point of care, identifying not only what changes should be made to minimize denials, for example, but also how to follow payer guidelines as to what tests and procedures — and in what order — they have determined to contribute to optimal, cost-effective care. By going beyond optimizing revenue to also assist in optimizing outcomes, PrimeRCM will help physicians continue to succeed financially as industry payment models undergo transformation related to the consumerization of healthcare.
"The evolutions we've made with the PrimeRCM service are a key element in Greenway's quest to contribute to a clinically driven, patient-engaged, coordinated healthcare system," said Greenway President and CEO Tee Green. "Increasingly, providers will be paid not on the basis of the transactions they've completed, but how well they are engaging the consumer and coordinating care to ensure successful outcomes. The delivery of rules to the point of clinical decision-making is essential to getting claims paid on time and efficiently while helping ensure that patients are being treated in the best way possible."
About Greenway and PrimeSUITE
Greenway Medical Technologies, Inc. (NYS: GWAY) delivers smarter solutions for smarter healthcare. PrimeSUITE — Greenway's certified and fully integrated electronic health record, practice management and interoperability solution — helps improve care coordination, quality and cost-efficiency as part of a smarter, sustainable healthcare system. Thousands of ambulatory care providers across more than 30 specialties and sub-specialties use on-premise or cloud-based Greenway solutions in healthcare enterprises, physician practices and clinics nationwide. For details, see greenwaymedical.com,Twitter, Facebook or YouTube.
In addition to historical information, this press release may include certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company's financial condition, growth strategy, business development efforts, service offerings, and service delivery models. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company's future performance include, but are not limited to, our ability to adapt to evolving technology and industry standards; our ability to implement our growth strategy; our ability to retain management and other qualified personnel; failure to prevent disruptions in service or damage to our third-party providers' data centers; failure to avoid liability for the use of content we provide; regulation of the healthcare information technology industry; our ability to ensure our solutions meet industry and government standards; failure to maintain adequate security measures for our customers' confidential information and personal identifiable information and their patients' protected health information; our ability to obtain new provider clients; failure of the HITECH Act and other incentive programs to be fully implemented or funded by the government; our ability to implement our strategic relationships as currently intended; failure to establish, protect or enforce our intellectual property; restrictions in our credit facility and future indebtedness. Further information concerning these and other factors is included in the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2012. The Company disclaims any obligation or duty to update or modify these forward-looking statements.
Greenway, the Greenway logo, PrimeSUITE and PrimeRCM are registered trademarks and the phrase "smarter solutions for smarter healthcare" is a trademark of Greenway Medical Technologies, Inc. Other product or company names are the property of their respective owners.