Riverside Radiology Associates has renewed its contract for Zotec Partners’ Electronic Billing Center (EBC) billing suite, RIS and Decision Support module afterreportedly reducing billing costs by more than half with the software over the past five years.
The Columbus, Ohio-based group has 70 sub-specialized radiologists providing diagnostic imaging and interventional radiology services throughout the state.
“Licensing such robust billing software has resulted in huge cost savings for our group, especially in terms of the number of employees needed to oversee collections,” said Jeff Fox, Riverside's executive director. “We have reduced billing costs by 52 percent and the number of necessary FTE’s by 48 percent. The EBC suite is more cost-effective and reliable than any similar system I’ve seen.”
Fox said, Riverside processes 38,000 procedures each year per full-time equivalent, as compared to outdated manual paper-based systems that process 18,000 procedures each year.
The group annually delivers more than 900,000 image interpretations, among other services, to imaging centers, community hospitals, clinics and physicians' groups and individual physicians.
“In order to focus on providing care to the patient, physician groups need trusted technology and added support on the financial side,” said Scott Law, president and CEO of Zotec Partners, based in Indianapolis. “Licensing our medical billing software helps physician’s to reduce their overhead while decreasing the claim payment turn-around time.”
According to Law, with carriers providing less reimbursement, the only way physicians can maintain their income is to reduce the cost of doing business, either through licensing technology or outsourcing accounts receivable.