South Carolina hospital funds EHR upgrade and CPOE with $1.3M reaped from charge capture
Soon after implementing an emergency department information system (EDIS) from Addison, Texas-based MEDHOST, Beaufort Memorial Hospital began achieving significant financial returns and seeing operational improvements.
In fact, thanks to the $1.3 million increase in gross revenue from improved E&M coding and IV infusion charges recognized by its emergency department, the 197-bed facility in Beaufort, S.C. will take that additional revenue to fund its MEDITECH 6.0 upgrade and house-wide CPOE implementations.
"MEDHOST's intuitive design and usability has played a huge role in our recent financial successes and enabled us to achieve an ROI within three months," said Ed Ricks, CIO of Beaufort Memorial Hospital. "The easy-to-use system drives user compliance, which generates more complete documentation. This ultimately resulted in increased revenue for the hospital because all of the care provided is captured and billed."
Beaufort Memorial was able to more accurately determine E&M levels because MEDHOST's behind-the-scenes Charge Capture calculates charges as clinicians document care, ensuring the hospital is reimbursed according to the level of care provided. In addition, Beaufort's nurses leveraged MEDHOST's medication documentation to more accurately record IV infusion "start" and "stop" times. The ED also utilized MEDHOST's electronic charting to not only eliminate dictation, which resulted in a $240,000 per year savings, but to also streamline the turnaround time for chart completion.
"MEDHOST has played a significant role in helping us advance our processes and achieve clinical excellence," said Ricks. "By reaping the benefits of MEDHOST's thorough documentation, high user acceptance and automatic charge capture, we are able to make the lasting changes needed to further enhance the level of care that patients receive from Beaufort Memorial."
Ricks's success in implementing MEDHOST at two other facilities, which also experienced dramatic financial and clinical improvements, was key in Beaufort Memorial selecting its EDIS. The hospital developed an IT strategy that supported its organizational goals and patient safety initiatives, which included using the additional revenue that MEDHOST would generate to help fund Beaufort's hospital-wide technology upgrades.
"MEDHOST's revenue management solutions consistently deliver proven results," said Craig Herrod, president of MEDHOST. "We are dedicated to providing our customers with revenue-maximizing tools that support their financial objectives. We look forward to supporting Beaufort Memorial with its technological endeavors as it continues to pursue new operational and clinical initiatives."