ModMed’s RCM Hits Milestone in Collections
The EHR leader reaches $1.8 Billion in collections in the last 12 months with its revenue cycle management services that help customers improve claims processing
BOCA RATON, Fla.–(BUSINESS WIRE)–ModMed, a leading provider of specialty-specific EHR and medical practice solutions, today announced its revenue cycle management (RCM) services business, ModMed BOOST, has collected approximately $1.8B in claims on behalf of its clients over the last twelve months. The achievement underscores the company’s commitment to helping providers build thriving practices amidst increasing market pressures.
Medical practices continue to struggle with staffing shortages while also navigating a complex claims landscape marked by intricate regulations, coding challenges and high denial rates. Time-consuming administrative tasks such as filing and refiling claims may further reduce practice efficiency and revenue recovery.
With ModMed BOOST, practices can wholly outsource medical claims management — including answering patient calls, managing submissions, and gaining access to financial visibility — to help streamline operations.
“ModMed BOOST has been an incredible resource to our company. We started out with two billing staff members, and they were doing a lot of things independently. And BOOST has really stepped in,” said Danielle Orren, Practice Manager at Shenandoah Dermatology & Aesthetics, in an interview.
Orren continued, “The options that we have, the knowledge that we’ve gained. We’ve been able to run reports that we did not know existed. We have a better overall view of what our company looks like, our financials, our AR.”
Brian Shafer, MD, CEO of Shafer Vision Institute, shared his practice’s experience since implementing BOOST: “I use ModMed BOOST, so I haven’t needed to hire a billing specialist. Also, the combination of ModMed Pay and BOOST has been great. Some insurance companies send virtual credit cards, which are now processed automatically.”
“Outsourcing non-core functions like claims management is no longer a luxury but a critical driver of practice success,” said Rob Ware, Senior Vice President and General Manager of Revenue Cycle Management at ModMed. “We are proud that our customers allow us to act as an extension of their team, streamlining practice operations so they can spend more time on patient care. We are relentlessly focused on delivering high-quality services and bottom-line value at scale, which is great for our customers and our business.”
To learn more about ModMed, please visit www.modmed.com/revenue-cycle-management
About ModMed
At ModMed, we empower medical practices to grow and scale by delivering better patient experiences with cloud, data, and AI technologies. Leveraging extensive clinical outcomes data, we design intelligent software solutions that simplify, automate and streamline clinical workflows and drive practice efficiency. With our specialty-specific EHRs, practice management, revenue cycle management and analytics solutions, as well as products for patient engagement, payment processing, and marketing, we are trusted by over 40,000 providers to drive clinical and operational success. Learn more at modmed.com or our blog and connect via Facebook, LinkedIn, X (Twitter) and Instagram.
Contacts
For more information:
press@modmed.com
Matter for ModMed
Dan Ventresca
617-874-5488
modmed@matternow.com
