MedData: Streamlining the Revenue Cycle with “Patient-Focused” Philosophy
Ann Barnes, President
Historically, revenue cycle management has focused on maximizing insurance reimbursements, but the unprecedented growth of patient responsibility has begun to affect the bottom line for many healthcare organizations. In order to protect revenue streams, it makes sense to outsource processes like eligibility screening, enrollment, and medical billing. MedData, a leading provider of “patient-focused” revenue cycle management and patient financial life cycle services, stands at the forefront of this industry.
Founded as a data service bureau for medical offices and clinics in the 1980s, MedData pioneered the use of coders and quickly emerged as a leader in medical billing services. During the 1990’s, MedData expanded its compliance and auditing resources, launched meddata.com, and rolled out its market-leading online physician portal to clients. The acquisition of some well-respected revenue cycle management firms like Data Management Inc., MedDirect, and Alegis Revenue Group helped the company rapidly grow into a full-service firm. Ann Barnes, President of MedData explains, “These acquisitions further emphasized our commitment to delivering industry-leading and patient-focused revenue cycle management solutions to our growing network of more than 1,000 hospitals and 5,000+ physicians nationwide.” By recently joining forces with Alegis, MedData has helped clients reduce revenue cycle time and boost bottom lines, all while improving patient satisfaction.
MedData clients are physicians and hospitals who are focused on providing the best experience to their patients during their visit.
MedData’s unique “patient-focused” philosophy extends this level of service to the revenue cycle. By delivering client-focused services and patient education, MedData can quickly address and anticipate individual needs to streamline the medical billing process. Connecting with patients even before they receive the bills helps them understand and navigate through insurance issues and payment options. Patient satisfaction surveys provide a comprehensive view and help spot potential problems before they arise. With an emphasis on upfront coding, MedData has streamlined its business processes to minimize the subjectivity in code selection. The company’s advanced technology platform quickly and accurately identifies unpaid accounts and its proprietary software helps coders complete timely coding while complying with internal quality measures and avoiding manual errors.
Connecting with patients even before they receive the bills helps them understand and navigate through insurance issues and payment
For over three decades, MedData has solidified, re-defined, and expanded its revenue cycle management processes and the Company plans to continue to grow its service offerings to handle other remaining aspects of the revenue cycle. Now with nearly 700 employees across U.S, MedData was recently named a ‘Top Workplace.’ “All of our success comes from the fact that we do a great job for our clients and that starts with our people. Our people are the not-so-secret ingredient that makes MedData the kind of company it is,” Ann Barnes concludes.