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mrn manager - connectyx

www.mrn manager.com - www.connectyx.com. Healthcare and Technology Top Performers – Recession Proof.

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mrn manager - connectyx

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  1. www.mrn manager.com - www.connectyx.com

  2. Healthcare and TechnologyTop Performers – Recession Proof Over the coming decade, with the aging of the population and changes in medical technology and utilization as the main contributing factors, national health expenditures are expected to double, growing an average rate of 7.2 percent per year. As a result, the health share of Gross Domestic Product (GDP), is expected to climb to 20 percent by 2015. Health care spending in the United States is projected to grow 7.3 percent in 2006 surpassing $2-trillion, according to a report released by the Centers for Medicare and Medicaid Services (CMS). The report was prepared by the CMS Office of the Actuary and published on-line by the journal Health Affairs.

  3. Healthcare Market Overview Key Industry Metrics – Paper – Document Explosion • $2.7 trillion estimated healthcare spending in 2006 • Employers and consumers = 55% • Government (Taxpayers) = 45% • 15-17% of GDP annually • 25% of the US Population will be 65 years or older by 2025 • Exploding claims and EOB processing demand • More than 6 billion healthcare claims per year • Average payment transaction costs • Paper EOB - $16.25 • EDI – Electronic Claims - $8.00

  4. Denial ManagementTops Priority List In Healthcare • “Denial management is uppermost in everybody’s mind,” says Kim Newland, director of patient financial services for Lexington Clinic, Lexington, Ky., a multi-specialty clinic with 21 branches in Kentucky • Hospitals across the country lose multiple millions of dollars every year due to mismanagement of the billing process. • One study by America’s Health Insurance Plans found that 14 percent of claims submitted to payers are denied and one out of every seven claims had to be resubmitted, appealed, or written off by providers. • “With profit margins squeezed so tightly in the healthcare industry, it’s hard not to think that any loss of revenue would not affect the bottom line”, adds Dave Cavell, business office director of Chelsea Community Hospital, Chelsea, Mich., which has 124 licensed beds and specializes in pain management.

  5. Financial Institutions are AcquiringRevenue Cycle Companies September 13, 2006 - Bank of America buys HealthLogic Health Imaging Bank of America has acquired HealthLogic Systems, a health-IT vendor based out of Norcross, Ga., that focuses on services for revenue cycle management at hospitals and other medical facilities. Additional details of the deal have not as yet been disclosed. Additionally, HealthLogic Systems develops new technologies that help healthcare providers go paperless and move towards automated, HIPAA-compliant processing. There has been a recent push by financial institutions to invest or partner with health-IT companies, such as PNC Financial Services Group based out of Pittsburgh earlier this year buying Healthcare Administration Technologies, and large banks such as Wachovia starting to offer healthcare payment processing and other related services. NEW YORK, January 18, 2007 – JPMorgan Chase & Co. (NYSE: JPM), Acquired Fisacure JPMorgan a full-service provider of cash management, trade finance, and treasury solutions, today announced it has acquired all of the assets of FisaCure, Inc., the leading provider of electronic remittance services for Healthcare Insurance Portability and Accountability Act of 1996 (HIPAA) compliant transaction sets. The acquired FisaCure technology will become part of the Healthcare Solutions business of JPMorgan Chase's Treasury Services unit. FisaCure's data-driven applications help healthcare providers eliminate manual processing through a proprietary technology that captures and maps data from paper and electronic sources. The acquisition will further provide JPMorgan Chase's healthcare industry clients with services that meet the sector's need for increased efficiency through automation and imaging. With the acquisition of FisaCure's applications, JPMorgan Chase's solutions will also facilitate the seamless management of payables and receivables for insurers, physicians, hospitals and other healthcare providers.

  6. The Situation • Accelerating the claim to cash process remains at the top of the Healthcare industry’s agenda: • Reduce Day’s Sales Outstanding (DSO) • Simplify the re-bill process • Make Staff more efficient • Reduce exceptions handling time and cost • Improve customer responsiveness • Squeeze losses out of the system • Manage Documents MRN MANAGER PROVIDES ALL OF THESE SERVICES

  7. MRN Manager - Delivers is a Software Suite and Internet Portal that delivers 100% Denial - Revenue Cycle Management. The results are accelerated cash collections and reduced labor cost for the health care organization.

  8. Connectyx Products • MRN Manager – Claims Denial System • MRNTools – Web Based Reporting Center • docSTAR – Web Based Document Management • EOBStream – Scans Paper Remitances into ERN Files • MRN Consulting and Billing Services • Accounts Recievable Funding

  9. MRN Sample Reports

  10. Customer Testimonials Keith Trowbridge, Former President of Liberty Medical Supply: MRN Manager offers HME companies the ability to better understand why claims are being denied, thereby allowing both short- and long-term corrective actions to be taken,” he said. “By doing so, DSO drop and cash receipts are accelerated. It’s a terrific and much-needed management utility for monitoring Medicare remittance.” Michael Lustgarden, MD Stuart, Florida: MRN Manager is just what I needed to track my coding trends, the visual reports are easy to read and get right to the point. It is a fantastic utility that has become an invaluable management tool for my practice that has saved me untoward amounts of time and money.

  11. Current and Future Markets • MRN is currently being sold in the Home Medical Equipment Market – HME. • MRN Manager is licensed to Healthcare Distribution Centers as a value added service to enhance their existing product/service matrix. • MRN has signed reseller agreements - alliances with existing medical software companies. • MRN is has recently started selling to Physicians & Billing Service Agencies. • MRN is expanding into Hospital, and other provider - institution healthcare markets.

  12. MRN Growth Drivers • Drivers of growth include: • Healthcare organizations need to collect their money quicker in order to maintain a better balance sheet, cash utilization and profitability • Run an efficient business using good business practices. • Reduces financial leverage requirements. • Market is largely recession resistant

  13. CTC SUMMARY • MRN results in Increased Cash and reduced DSO. • MRN reduces financial leverage requirements and helps businesses run efficiently using good business practices.

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