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With so many electronic health record systems
it makes it difficult to
wade through all the Features... |
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I love the cohesiveness of SuiteMed. There is one login, one password and one software program to maintain, rather than 2 different programs like I had with Lytec and my EMR. SuiteMed saves me time because any detailed information is at my fingertips
- Dawn Lovely
Lovely Foot Associates |
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"I've enjoyed a relationship with MBSS since May 2001 when I first met Danielle Taimuty, The Owner. I feel that even though MBSS has grown significantly since then, they still show that same friendly customer service as they did when they worked out of that small red school house on McClelland Road".
Dana Shipley, Lifeline Therapy Group |
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Latest News |
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MBSS Inc's cost-saving system helps clients buffer revenue drops |
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Danielle Taimuty was advising a doctors' office on coding and billing matters not long after she opened a consulting business when one of the doctors had an idea: Could Taimuty take over all of the office's billing?
Taimuty quickly agreed. Little could she have imagined how meeting a customer's needs would position hercompany for significant growth 13 years later.
Medical billing has been the bread and butter for Canonsburg-based MBSS Inc. since opening its doors in 1996,with roughly half its revenue coming from physical therapists, pain management doctors, chiropractors and outpatient rehabilitation clinics. MBSS charges clients between 6.5 percent and 9 percent of the total amount billed to insurers, depending on volume, and the company burnishes its reputation by aggressively chasing reimbursement
for clients.
Although the company never invested in marketing its billing services, word-of-mouth referrals have been enough to assure a steady stream of new clients - and steady revenue growth.
But something else was happening. Although MBSS's sales rose year after year as new doctors and therapists signed on, billing revenue for many clients began slipping about two years ago. As the jobless rate edged up and the uninsured rolls ballooned, the number of office visits further declined, resulting in shrinking revenue for MBSS's clients.
At MBSS, the decline in client revenue was masked by the steady increase in revenue from businesses, Taimuty said, but it didn't go unnoticed. MBSS soon began scrambling for ways to reverse the trend.
"We were looking at how we could help them buffer the decline," Taimuty said.
MBSS sold billing software to clients for several years, which helped improve efficiency and reduce costs, but Taimuty realized something more was needed. As revenue declined, clients also were struggling with the high price of buying an electronic medical records system -
between $40,000 and $50,000 per provider in upfront software costs, not including training. The systems are needed because government and other payers are increasingly demanding them.
An electronic medical records system would improve patient care, make medical providers eligible for federal grants and increase Medicare reimbursement. So, the solution MBSS came up with would have to address the expense of buying the system while increasing revenue for clients through electronic billing.
After researching several companies, Taimuty chose Oakland, Calif.-based SuiteMed LLC as a vendor for an electronic medical records system that also offered billing functions. She also approached SuiteMed COO Kal Patel about a novel financing tool for her clients.
"She was looking for a product that would make life for their clients better," Patel said. "How could we help these doctors, as well as my business?"
Starting in January, MBSS began offering the SuiteMed product to clients with discounted training costs. Instead of a big upfront investment, MBSS is offering to provide the gear for an additional 1 percent on clients' billing fee.
The result has been clients can save 60 percent to 70 percent more than if the equipment were purchased through conventional outlets. Improved billing, including capturing reimbursement for services otherwise written off, has raised the average client billings by 28 percent, while MBSS figures it can make up the cost of the system within 18 months.
MBSS added value for its customers without stepping outside its core strengths, which is a common mistake, according to Christine Kush,associate director of the Institute for reneurial Excellence at the University of Pittsburgh.
Like many successful entrepreneurs, Taimuty wasn't content with the status quo.
"She added value to her customers," Kush said. "She was asking, "What's the next logical step?'
"It"s that passion."
MBSS Inc.
Medical billing services company
Based: Canonsburg
Founded: 1996
Employees: 44 full-time, 20 part-time
Revenue: $1.3 million
Web site: www.mbssi.net
Challenge: Finding a way to help clients prosper in a difficult economy.
Solution: Paying careful attention to customer needs can result in improved financial performance for both the client and vendor.
kmamula@bizjournals.com | (412) 208-3825
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