Physicians are among the most skilled professionals in our society, but in order to maintain successful medical practices, you need to be savvy about business, too. Yet time spent on the business of medicine reduces a physician's ability to care for patients and generate income.
In 2005, Dr. Eric Beier, an emergency medicine physician turned businessperson, founded MedOptima with the sole purpose of helping medical practices optimize their profitability, compliance and across-the-board business performance. From a single location in northern Indiana, MedOptima has grown into a successful, multi-faceted billing and consulting resource for physicians and hospitals. Today we work with medical practices and hospitals across the Midwest.
MedOptima is not a traditional billing company; instead we serve as strategic business partners to physicians and hospitals. And while revenue cycle management is the foundation of our business, we also provide business consulting and software hosting. Also, we help physicians identify new profit centers, assist in contract negotiations and provide advice to improve operational efficiency and business performance—whatever is required to operate a successful business enterprise.
We're also unique in that we employ sophisticated quality and management techniques like Lean Manufacturing and the Toyota Production System to make medical practices more efficient and effective. We help clients leverage health information technology across their practices to elevate efficiency, competitiveness and quality, along with patient safety and satisfaction. It's an approach that works. MedOptima clients experience a median increase of 10 percent in revenue on existing billings*. MedOptima clients also do very well compared to industry and MGMA benchmarks. Their practices are operating at a higher level of efficiency; billing is complete, accurate and timely; monthly revenue is predictable; and compliance requirements are being met.
* This is not a guarantee. Increases in revenue depend on multiple factors including patient retention, adoption of MedOptima's best practices, and no adverse changes in issues beyond MedOptima's control.
MedOptima builds long-term client relationships by minimizing the pain of revenue cycle management and maximizing the business performance of physician practices. We will consistently grow revenues and increase profits to create new value for clients and reward investors and employees.