This is an exciting time for our company. With your support we’ve grown into one of the leading providers of medical revenue cycle management services in the United States.
But continued success is contingent on paying attention to and anticipating industry trends.
The costs associated with transitioning to ICD-10 are now projected to be up to three times 2008 estimates. The rising cost and complexity means physician groups, staffing companies, and hospitals are going to have a greater need for expert billing and coding.
Additionally, patient payment responsibility has risen dramatically and continues to increase with the implementation of the Affordable Care Act. At this year’s HIMSS conference, Aetna’s CEO, Mark Bertolini, projected patient pay responsibility to climb to 50% in 3-5 years.
In anticipation of these changes, I am pleased to announce MedData is launching several technological and service enhancements in 2014 designed to streamline your operations, create a better experience for your patients, and boost your bottom line.
Since our founding in 1980, we’ve been dedicated to delivering innovations that take care of your business so you can focus on taking care of your patients. Already this year we’ve launched major upgrades to our patient payment and engagement platform and additional innovations intended to give you greater line of sight across your portfolio are on their way.
MedData continues to employ more dedicated client service managers and three times more billing and collection resources than the competition. And now your dedicated client service team is stronger than ever. For hospitals struggling with coding and the ICD-10 transition, MedData provides expert facility coding. We continue to add talented staff who are focused on operational excellence and serving the needs of your organization.
Our company means nothing without you – your business is our top priority. We are passionate about making 2014 a great year for your organization. We look forward to continuing to provide innovative billing solutions that meet your needs as we grow and improve our business.
President and Chief Executive Officer