With increasing pressures on hospital margins, the demand of senior hospital administrators looking for ways to reduce the subsidies paid to their physician Profit & Loss (P&L) is more prevalent than ever. Most hospitals have subsidized the physician P&L by $40,000 to $100,000 per physician each year and have historically made this amount up through hospital volume.
Through the implementation of our solution we typically increase physician collections by $30,000 to $40,000 per physician, per year by optimizing charge and data capture, ensuring quality reimbursements and streamlining organizational processes. Increased revenue resulting from Ingenious Med’s improved diagnosis and billing accuracy allows hospitals, health systems and private groups to maximize profits and solution investment. Additional cost-savings occur through our data analytics, allowing real-time access to monitoring items such as length of stay, readmissions, revenue and operational trends. The ability for health professionals to view and manipulate data specific to their organization creates transparency into costs and performance.
With minimal upfront fees and no server installation, implementation and the ability to start seeing results is immediate. Our confidence in our product and its results stems from our 97 percent renewal rate, add-on requests and high client growth each year. With a physician-friendly workflow, our adoption rates are the highest in the industry, ensuring groups garner the maximum benefits available. As a key-revenue generating platform for our users, Ingenious Med has been an integral part of hospitals and health systems for more than a decade.
Download our Return on Investment one-sheet.