SOMERSET, NJ, April 10, 2013 (GLOBE NEWSWIRE) -- MTBC, a leading electronic health record (EHR), practice and revenue cycle management company, today announced the launch of its business intelligence and reporting module (BI Module) to enhance reporting capabilities for practices of all sizes. The BI Module is fully integrated with MTBC's PracticeProTM suite of services and supports in-depth longitudinal and granular analysis of key performance indicators and revenue drivers.
"While powerful business analytics tools are leveraged by many of America's largest physician groups to support strategic business planning and decision-making, these important tools have, until now, remained out of reach for most small physician groups," said MTBC President Stephen Snyder. "Our new BI tools are powerful enough to support the largest and most complex physician groups, yet so intuitive and flexible that they can be used by virtually any small practices to better understand its business, improves its bottom line, and mitigate audit risk."
MTBC's BI reporting and analytics module was designed to support benchmarking, short-term and long-term planning, together with compensation program development and management. It is fully integrated with MTBC's EHR and PM platform.
"This analysis provides an administrator with a holistic view of his or her practice, and can help practices identify opportunities to increase productivity, maximize revenue, reduce expenses and streamline workflows," explained John Cox, Vice President of Hospital and Consulting Services at MTBC. "Our BI module caters not only to the needs of small practices, but also those of medium to large sized hospital-based and independent groups."
MTBC's BI module has an all-inclusive fee of five percent of collections and includes MTBC's EHR, PM, RCM and mHealth applications. It will enable providers to:
- Compare provider E&M level utilization to local and national benchmarks to identify and manage audit risk.
- Analyze payer-level payment trends to support contract negotiations and payer participation decision-making.
- Examine collections & billing cycle patterns to identify bottlenecks and accelerate reimbursements timeframes.
- View performance by provider, group, location and more.
- Create customized reports to support compensation plan development and administration.
- Optimize the revenue cycle by gaining an insight into performance gaps to improve profit margins.
- Examine overall patient encounters per provider or practice to identify opportunity for revenue maximization.
- Improve and accelerate the decision-making process with transparent financial operations.
ABOUT MTBC
Founded in 1999 and based in Somerset, New Jersey, MTBC provides practice and revenue cycle management services and proprietary software solutions to private physician offices and hospital-employed provider groups throughout the United States. It's integrated and competitively priced premium products, PracticePro™ and ChartsPro™, present a service suite unmatched in the industry in scope and value. MTBC has been consistently recognized as a Deloitte Technology Fast 500 company - 2009, 2010, 2011 and 2012 - and has also been recognized during each of the last three years as an Inc. 500│5000 company.
To learn more about MTBC, please visit www.mtbc.com">www.mtbc.com.
To learn more about MTBC Business Intelligence module, please visit http://www.mtbc.com/business_intelligence_software.aspx.