Henry Schein MicroMD, a subsidiary of
Henry Schein, Inc.
), and MDeverywhere recently forged an agreement to provide
physicians with a fully integrated clinical and financial system.
This, in turn, will, enable them to deliver superior and
value-added medical practice. Henry Schein MicroMD is a leading
provider of proven and cost-effective practice management and
electronic medical records (EMR) systems.
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Boston, MA-based MDeverywhere offers efficient revenue cycle
management (RCM) solutions including credentialing services for
physicians. The company's unique RCM solution includes purpose
built, cloud-based practice management software, coding rules
engines, contract monitoring tools and full-scope claims
management, patient payment portal and back-office services. The
client lists of MDeverywhere boasts of solo practices, group
practices, large faculty practices, and hospitals in over 40
The deal is expected to facilitate both the companies to focus on
their individual strengths, enabling customer access to the
other's software services at the same time. This is
anticipated keeping in mind both the companies occupy
commanding positions in the health care IT market serving
ambulatory medical practices, with reputation in product
MDeverywhere's ICD-10 compliant RCM solution effectively takes
care of the revenues that a physician leaves behind uncollected.
Such revenues account for almost 15% of total sales. The
integrated purpose built tools within this RCM solution helps to
identify coding claim errors before claims are sent, and also
decrease denials by complete and accurate claims, thus confirming
insurance plan enrolment and enforcing payor contract compliance.
Such support services promise greater value by optimizing
revenues of the physicians.
Additionally, MDeverywhere's credentialing verification services
make it a perfect delegation partner for several enrollment
services. Such services include unlimited health plans, Council
for Affordable Quality Healthcare (CAQH) maintenance, group
applications and re-validations for all types of providers.
MDeverywhere can also help with re-validation by 2014 to adhere
to the Affordable Care Act re-validation requirement.
The partnership promises to create a single point solution for
automation of operations so as to streamline workflow efficiency,
and at the same time, generate an uninterrupted cash flow.
Currently, HSIC carries a Zacks Rank #2 (Buy). Other medical
stocks that are also worth a look include
Cardinal Health, Inc.
STRAUMANN HLD N AKT
), each carrying a Zacks Rank #1 (Strong Buy), and
Align Technology Inc
) carrying a Zacks Rank #2 (Buy).