www.mrn manager.com www.connectyx.com - PowerPoint PPT Presentation

1 / 13
About This Presentation

www.mrn manager.com www.connectyx.com


Over the coming decade, with the aging of the population and changes in medical ... NEW YORK, January 18, 2007 JPMorgan Chase & Co. (NYSE: JPM), Acquired Fisacure ... – PowerPoint PPT presentation

Number of Views:53
Avg rating:3.0/5.0
Slides: 14
Provided by: yoo9
Tags: com | connectyx | jpm | manager | mrn | www


Transcript and Presenter's Notes

Title: www.mrn manager.com www.connectyx.com

  • www.mrn manager.com - www.connectyx.com

Healthcare and Technology Top Performers
Recession Proof
  • Over the coming decade, with the aging of the
    population and changes in medical technology and
    utilization as the main contributing factors,
    national health expenditures are expected to
    double, growing an average rate of 7.2 percent
    per year.
  • As a result, the health share of Gross Domestic
    Product (GDP), is expected to climb to 20 percent
    by 2015.
  • Health care spending in the United States is
    projected to grow 7.3 percent in 2006 surpassing
    2-trillion, according to a report released by
    the Centers for Medicare and Medicaid Services
    (CMS). The report was prepared by the CMS Office
    of the Actuary and published on-line by the
    journal Health Affairs.

Healthcare Market Overview
  • Key Industry Metrics Paper Document
  • 2.7 trillion estimated healthcare spending in
  • Employers and consumers 55
  • Government (Taxpayers) 45
  • 15-17 of GDP annually
  • 25 of the US Population will be 65 years or
    older by 2025
  • Exploding claims and EOB processing demand
  • More than 6 billion healthcare claims per year
  • Average payment transaction costs
  • Paper EOB - 16.25
  • EDI Electronic Claims - 8.00

Market Overview
  • There are approximately
  • 15,000 Active HME providers
  • 800,000 Physicians
  • 120,000 Home Health Agencies and Hospitals
  • Approximately 75 of these groups will need a
    form of MRN Its Tools

Denial Management Tops Priority List In
  • Denial management is uppermost in everybodys
    mind, says Kim Newland, director of patient
    financial services for Lexington Clinic,
    Lexington, Ky., a multi-specialty clinic with 21
    branches in Kentucky
  • Hospitals across the country lose multiple
    millions of dollars every year due to
    mismanagement of the billing process.
  • One study by Americas Health Insurance Plans
    found that 14 percent of claims submitted to
    payers are denied and one out of every seven
    claims had to be resubmitted, appealed, or
    written off by providers.
  • With profit margins squeezed so tightly in the
    healthcare industry, its hard not to think that
    any loss of revenue would not affect the bottom
    line, adds Dave Cavell, business office director
    of Chelsea Community Hospital, Chelsea, Mich.,
    which has 124 licensed beds and specializes in
    pain management.

Financial Institutions are AcquiringRevenue
Cycle Companies
  • September 13, 2006 - Bank of America buys
    HealthLogic Health Imaging
  • Bank of America has acquired HealthLogic
    Systems, a health-IT vendor based out of
    Norcross, Ga., that focuses on services for
    revenue cycle management at hospitals and other
    medical facilities. Additional details of the
    deal have not as yet been disclosed.
    Additionally, HealthLogic Systems develops new
    technologies that help healthcare providers go
    paperless and move towards automated,
    HIPAA-compliant processing. There has been a
    recent push by financial institutions to invest
    or partner with health-IT companies, such as PNC
    Financial Services Group based out of Pittsburgh
    earlier this year buying Healthcare
    Administration Technologies, and large banks such
    as Wachovia starting to offer healthcare payment
    processing and other related services.
  • NEW YORK, January 18, 2007 JPMorgan Chase
    Co. (NYSE JPM), Acquired Fisacure
  • JPMorgan a full-service provider of cash
    management, trade finance, and treasury
    solutions, today announced it has acquired all of
    the assets of FisaCure, Inc., the leading
    provider of electronic remittance services for
    Healthcare Insurance Portability and
    Accountability Act of 1996 (HIPAA) compliant
    transaction sets. The acquired FisaCure
    technology will become part of the Healthcare
    Solutions business of JPMorgan Chase's Treasury
    Services unit.
  • FisaCure's data-driven applications help
    healthcare providers eliminate manual processing
    through a proprietary technology that captures
    and maps data from paper and electronic sources.
    The acquisition will further provide JPMorgan
    Chase's healthcare industry clients with services
    that meet the sector's need for increased
    efficiency through automation and imaging. With
    the acquisition of FisaCure's applications,
    JPMorgan Chase's solutions will also facilitate
    the seamless management of payables and
    receivables for insurers, physicians, hospitals
    and other healthcare providers.

The Situation
  • Accelerating the claim to cash process remains at
    the top of the Healthcare industrys agenda
  • Reduce Days Sales Outstanding (DSO)
  • Simplify the re-bill process
  • Make Staff more efficient
  • Reduce exceptions handling time and cost
  • Improve customer responsiveness
  • Squeeze losses out of the system
  • Manage Documents

MRN Manager - Delivers
  • is a Software Suite and
    Internet Portal that delivers 100 Denial -
    Revenue Cycle Management.
  • The results are accelerated cash collections and
    reduced labor cost for the health care

Connectyx Products
  • MRN Manager Claims Denial System
  • MRNTools Web Based Reporting Center
  • docSTAR Web Based Document Management
  • EOBStream Scans Paper Remitances into ERN Files
  • MRN Consulting and Billing Services
  • Accounts Recievable Funding

MRN Sample Reports
Customer Testimonials
  • Keith Trowbridge, Former President of Liberty
    Medical Supply MRN Manager offers HME companies
    the ability to better understand why claims are
    being denied, thereby allowing both short- and
    long-term corrective actions to be taken, he
    said. By doing so, DSO drop and cash receipts
    are accelerated. Its a terrific and much-needed
    management utility for monitoring Medicare
  • Michael Lustgarden, MD Stuart, Florida
  • MRN Manager is just what I needed to track my
    coding trends, the visual reports are easy to
    read and get right to the point. It is a
    fantastic utility that has become an invaluable
    management tool for my practice that has saved me
    untoward amounts of time and money.

Current and Future Markets
  • MRN is currently being sold in the Home Medical
    Equipment Market HME.
  • MRN Manager is licensed to Healthcare
    Distribution Centers as a value added service to
    enhance their existing product/service matrix.
  • MRN has signed reseller agreements - alliances
    with existing medical software companies.
  • MRN is has recently started selling to Physicians
    Billing Service Agencies.
  • MRN is expanding into Hospital, and other
    provider - institution healthcare markets.

MRN Growth Drivers
  • Drivers of growth include
  • Healthcare organizations need to collect their
    money quicker in order to maintain a better
    balance sheet, cash utilization and profitability
  • Run an efficient business using good business
  • Reduces financial leverage requirements.
  • Market is largely recession resistant

  • MRN results in Increased Cash and reduced DSO.
  • MRN reduces financial leverage requirements and
    helps businesses run efficiently using good
    business practices.
Write a Comment
User Comments (0)
About PowerShow.com