Becker's ASC Review

42 Executive Briefing Shoring up finances with upfront collections It's not just clinical and care delivery trends that DJO is staying ahead of — the company also has a pulse on mounting challenges when it comes to insurance coverage. The share of workers enrolled in high-deductible health plans at large employers reached 47 percent in 2019 — an all-time high, according to the Healthcare Financial Management Association. Moreover, the pandemic caused as many as 7.7 million workers to lose jobs with employer- sponsored insurance as of June 2020, The Commonwealth Fund estimated. Up against these obstacles, Mr. Ingel said, practices with outdated insurance verification processes are likely to waste valuable time chasing down payments and miss out on revenue that's especially critical amid volume downturns. For that reason, MotionMD's VeriPro® application helps provide patients and providers with a cost-of-care estimate at the time of service and enables practices to collect estimated patient responsibility with confidence upfront. "With VeriPro, we are able to be transparent and up front with our patients about the cost of durable medical equipment," said Cristy A., RN, the clinical nurse manager of Longview (Wash.) Orthopedics Associates. "This allows us to spend more time on patient care and optimize our patient's clinical experience." Not only does VeriPro help patients to make informed decisions about their care and improve their overall experience, it also addresses the critical need for practices to collect payment quickly and in full. Longview Orthopedics Associates has experienced first-hand the benefits of automating financial processes. After installing VeriPro, the practice recorded a significant improvement in upfront cash collections. "We are no longer chasing the money since we collect prior to patients leaving," said Wanda R., Longview's business office manager. Making the long-overdue investment Seeing the need to streamline core practice functions — and the clear advantages of doing so — DJO has equipped MotionMD with VeriPro for cash collections and OaraScore for preoperative patient screening. The platform also features solutions for long-term patient outcome tracking, remote patient monitoring and more, and its modules will continue building as DJO anticipates future challenges. Even with these customized, forward-looking solutions on the market, practices may be reluctant to initiate change, according to Mr. Ingel. Modernization can seem daunting and it takes work, but he contends that a practice's viability depends on it. "Those who haven't gone down the path of automating are still having to deal with those inefficiencies that existed yesterday, only they're even more of a challenge today with all of the things coming your way," he said. "Labor, preparing personal protective equipment — all these things are making it tougher to keep practices open." For practices that do turn to automation for help solving inefficiencies, engagement from staff and administrators is essential to successful adoption. To facilitate a smooth integration, MotionMD® customers help design their own automated workflows in close coordination with DJO®. Collaborating with a proven partner was a top priority for Erik Frazier as he transitioned into the role of CEO at Orthopedic Partners, which has offices in North Franklin, Conn., and Niantic, Conn. "I wanted to make sure that at Orthopedic Partners, we replicated some of the previous successes I had experienced with workflow efficiency and profitability," Mr. Frazier said. "The MotionMD software enables our doctors to easily set up their individual pathway protocols. It also addresses clinic pain points like keeping billing organized, managing inventory and helping make the overall process easier for my staff. This is the second time I have implemented MotionMD at a large practice, and the DJO Healthcare Solutions Integration, Implementation and Customer Success teams have ensured it has run smoothly for all." With MotionMD up and running, Orthopedic Partners and other customers are promised data security within the HITRUST certified platform. To date, MotionMD has been successfully integrated with 47 EMRs, delivering the kind of compatibility modern practices need. At the end of the day, "the clinic staff doesn't have piles of paperwork to process," Mr. Ingel said. "Between electronic ordering, clean-claim technology, early-warning notifications, real-time benefits verification and patient responsibility, it's a better patient experience and a better financial outcome for the practice. No one can afford to waste money, time or personnel on outdated, manual or inefficient systems." n DJO, a subsidiary of Colfax Corporation (NYSE: CFX), is a leading developer and distributor of high-quality medical devices that provide proven solutions for musculoskeletal health, joint reconstruction, vascular health, and pain management. The Company's extensive range of products, integrated technologies, and software solutions, address the orthopedic continuum of care from performance and mobility to surgical intervention and post-operative rehabilitation; enabling people around the world to regain or maintain their natural motion. For additional information about DJO, please visit www.DJOGlobal.com.

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