WYOMISSING, Pa.–(BUSINESS WIRE)–PrecisionBI, a division of Meridian Medical Management, announced it has joined forces with Connecticut-based PractiSource, LLC, a full-service medical billing and revenue cycle management (RCM) company, to provide cutting edge RCM performance management and analytics to laboratories and medical practices.
PrecisionBI to Provide Industry-Leading Analytics Solutions to PractiSource LLC
PrecisionBI is the leading healthcare analytics engine used by over 50,000 physicians at some of the largest healthcare settings in the United States. With this relationship, all PractiSource clients, inclusive of small niche medical practices and laboratories, will have access to PrecisionBI’s robust, industry-leading analytics engine.
PrecisionBI’s powerful healthcare business intelligence and clinical analytics tool will provide the ability to see key trends related to client performance. PractiSource clients will be able to visualize healthcare data and utilize the premier ad hoc reporting engine to monitor key performance indicators (KPIs).
“We found that medical practices and labs often rely on stagnant reports and then react to dated information,” said Markus G. Muhlhauser, President and CEO of PractiSource. “We know that being able to interact with data provides a much greater perspective into KPIs and business operation trends. This relationship is about providing key data in a highly digestible way to enable our clients to make smart business decisions.”
PractiSource client healthcare organizations will monitor coding trends, timely payer reimbursement, physician RVU metrics, plus a broad array other healthcare analytics that enable them to better operate their respective organizations.
Laboratory clients of PractiSource will also able to see reimbursement trends, referral patterns, and volume statistics. With a few clicks, the lab will see test volumes by rep and /or by referring provider and even break it down further by payer.
“PractiSource is a premier provider of laboratory revenue cycle services and we are pleased to have them as a client,” said Jaime Ojeda, GM and EVP of PrecisionBI.
Beginning May 1, 2016, all new PractiSource clients will have access to the PrecisionBI analytics engine from the time of implementation. Existing clients are expected to acquire the use of PrecisionBI by end of Q2.
About PractiSource, LLC
PractiSource, LLC is a full service medical billing and revenue cycle management (RCM) provider dedicated to maximizing medical provider reimbursement with the highest levels of concierge-style customer service and support. The company provides services to clinical laboratories (including toxicology-specific laboratories), physicians and medical facilities. Headquartered near Hartford, Connecticut, PractiSource serves clients from coast to coast. For more information, visit www.practisource.com.
PrecisionBI (PBI) pioneered healthcare analytics and business intelligence. Since 1993, PBI has elevated healthcare analytics and business intelligence by automating it and providing our clients real-time decision support. PBI empowers its users with an enterprise-ready, self-service solution that continually seeks to exceed the demands of today’s healthcare industry. With over 20 years’ experience in healthcare analytics and BI, our 350+ clients are backed by some of the best talent in the industry and continually advancing the future of healthcare. PBI is a division of Meridian Medical Management. For more information, visit www.precisionbi.com or www.m3meridian.com.