Positive Impact Observed at Many Orthopedic Practices Utilizing Veradigm Coding Services
Helping Orthopedists to Measurably Reduce Denials and Improve Practice Revenue
Veradigm® (OTC:MDRX), a leading provider of healthcare data and technology solutions, announced today that many orthopedic practice clients utilizing Veradigm Coding Services have observed positive, measurable impacts on key performance indicators for their organizations, with average observed results in the first 12 months including reducing surgical claims payment cycle by up to 5-10%, and increasing Relative Value Units (RVUs, a common metric for office revenue) by up to 3-5%.
The increasing complexity of surgical coding and a shortage of qualified coding staff has left practices with a revenue challenge that is getting harder and harder to meet. When claims are coded incorrectly and as a result are left unpaid or underpaid, the ripple effect on the bottom line can be devastating to a practice's financial health.
Veradigm brings years of experience, certified coders, and technology-enabled workflows to the challenge of complex surgical coding, delivering a service that can help orthopedic and other MSK-related specialties see higher revenue and with better documentation, while making life easier on surgeons and their overtaxed staff. The services are supplemented by advanced technology from the Veradigm Network of solutions.
Unity MSK, a nationwide, multi-site orthopedic practice with 75 total providers with 45 physicians, has seen significant results since onboarding Veradigm Coding Services.
"To help combat increased denials, we needed a coding partner that understood the nuances of effective coding and claim submission to help us capture potential missing revenue and accelerate cashflow," said Joy Eckerdt, Vice President of Revenue Cycle, Unity MSK. "Finding an orthopedic coder to hire is a challenge, but finding a good one is even harder. That's why we chose Veradigm. They have that level of orthopedic-specific expertise that we needed. They have helped us refocus our staff where their time is best spent, and we are seeing the results."
"Unity MSK's experience with Veradigm Coding Services is just one of many examples demonstrating the significant impact this offering can make for orthopedic and other MSK-related specialties," said Tom Langan, Interim Chief Executive Officer of Veradigm. "We are gratified to be part of helping these practices to meet their goals in a way the enables them to spend more time focusing their patients and look forward to expanding this offering to other care areas in the future."
About Veradigm®
Veradigm is a healthcare technology company that drives value through its unique combination of platforms, data, expertise, connectivity, and scale. The Veradigm Network features a dynamic community of solutions and partners providing advanced insights, technology, and data-driven solutions for the healthcare provider, payer, and biopharma markets. For more information about how Veradigm is fulfilling its mission of Transforming Health, Insightfully, visit www.veradigm.com, or find Veradigm on LinkedIn, Facebook, Twitter, Instagram, and YouTube.
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