By Matt Furnari, President
As we embark on a new year and a fresh chapter at Medek Health Systems, I extend my heartfelt congratulations to the team for an outstanding 2023.
Throughout the past year, we achieved remarkable milestones—doubling our patient count, significantly increasing revenue, and implementing cost-cutting measures. Most importantly, we delivered better care to our patients than ever before.
These achievements were made possible by aggressive investments in automation and artificial intelligence. Notably, we embraced technology without replacing the crucial human interaction element with chatbots. Our patients remain our top priority, deserving the time and personalized care that comes with human interaction.
In addition, we made substantial improvements in the minutiae of operations, including eligibility checking, billing codes, onboarding, and more. One significant advancement was the launch of VitalPop—a patented internal system for our reviewers. This system allows our clinical team to focus more quickly on problematic readings, resulting in a 50% reduction in wasted time while handling a 200% growth in readings.
Importantly, our review service stands out; we don't adhere to a "weekday during business hours" model. Our reviewers monitor patients day or night, weekday or weekend, including holidays.
We also implemented a new ETL infrastructure, enabling us to seamlessly push and pull data from hundreds of EMRs and EHRs, including:
- Practice Fusion
- Praxis EMR
- Athenahealth / athenaOne
This infrastructure, coupled with a new artificial intelligence engine for pre-eligibility checks, allows us to pre-qualify patients in a fraction of the time. Tasks that once took months are now completed within hours. For instance, we recently onboarded a practice with over 40,000 patients, handling data extraction, loading, fine-tuning the AI model, and performing eligibility checks—all within a 24-hour period.
Thanks to this integration, we've elevated the billing services for the Medek Provider Network. We now audit and track every single claim, denial, primary, and secondary payment, ensuring practices receive over 98% of expected reimbursements.
As we eagerly anticipate 2024, with foundational pieces in place, we aim to improve the lives of even more patients. Monitoring vital signs through the internet may seem like a simple idea, but in reality, it represents a fraction of the future we were promised when I was growing up—a future where the internet, technology, and software extend lifespans and improve the quality of life through early intervention.
Thank you again to all the hardworking and dedicated individuals that make up this exceptional organization.