Medical Administrative Professionals, LLC Engages Zotec Partners in Exclusive New Revenue Cycle Management Agreement
Four Reasons Drive Group’s Decision to Outsource RCM
INDIANAPOLIS (April 11, 2016) – Zotec Partners (Zotec), the industry leader in radiology revenue cycle and practice management services, announces an exclusive revenue cycle management (RCM) agreement with Medical Administrative Professionals, LLC (MAP), the management services organization of Denver-based Diversified Radiology of Colorado, PC (DRC). DRC is a 55-radiologist practice that has undertaken billing in-house for several decades. In the new arrangement, MAP will employ Zotec’s RCM expertise, services and analytical tools to monitor data and contribute to the growth of the radiology practice.
Discussing the reasons to outsource DRC’s billing operation, Kip McMillan, MAP’s CEO, notes that aside from Zotec’s demonstrated expertise in the radiology market and high-performance RCM technology, cost and effectiveness were main drivers for the switch. “Diversified Radiology is in the business of delivering high-quality diagnostic imaging services, and this strategic decision allows us to lower our business costs, gain access to up-to-date revenue cycle and analytics technology, and focus on our core clinical strengths.” A desire to add value to its business relationships using new tools was key to MAP’s selection of Zotec. McMillan continues, “An example of value-add is our desire to deliver the optimum diagnostic services and subspecialty mix to all of our partners, which is a complex and ever-changing balance of supply and demand. Zotec’s ZiPP tool for physician productivity and workflow will enable us to optimize our staffing and slot opportunities, which ultimately means greater efficiency and effectiveness.”
Steve Collins, Zotec’s Vice President of Business Development agrees, adding that working with Zotec as a billing partner will also give DRC access to data and metrics to improve both hospital relationships and patient experiences. “Zotec’s Comprehensive Zotec Analytics and Reporting (CZAR) technology will allow DRC to view and digest a wide range of revenue cycle analytics that will prove valuable when sitting down with its hospital partners,” Collins says. He also puts an emphasis on what Zotec will do for DRC’s collections efforts, noting that today patients are more accountable for payments under health savings accounts and high-deductible health plans, which puts much of the responsibility on the physician group to more closely engage them as consumers. “With our patient experience tools such as opt-in text messaging and direct-from-smartphone payments, Zotec not only provides self-pay accounts with the ability to easily make payments, but through analysis we can show DRC critical information such as patients’ propensity to pay, and develop follow-up strategies based on these trends,” he remarks. “We are delighted to secure the MAP business and thank Kip and his team for all their work to make it happen."
DRC is comprised of a team of top-tiered radiologists dedicated to the utmost medical care by ensuring that each radiologist concentrates exclusively on their individual specialties for which they have pursued additional training. Some of the subspecialties within the practice include: Neuro, Body, Cardiac, Vascular, Pediatric, Breast, Nuclear/PET and Musculoskeletal Imaging—the majority have been published in leading medical journals. This differs from other groups that require their radiologists to interpret studies across the board. The group is insistent that they achieve and maintain a standard of care that surpasses the expectation of its affiliates and patients. To learn more about DRC visit My-Radiologist.com.
Zotec is the largest radiology revenue cycle management provider in the country, with more than 20 years in the radiology industry. It serves 35 of the nation’s top 100 radiology groups, including thousands of radiologists. Zotec integrates the best people, processes and technology for fast, accurate and compliant radiology reimbursement solutions. Zotec’s proprietary processes and technology manage in excess of 70 million medical encounters across all 50 states.
About Zotec Partners
Founded in 1998 by CEO T. Scott Law, Zotec Partners is the Indianapolis-based industry leader in specialized medical billing and practice management services for the hospital-based specialty market. Zotec Partners is committed to the continual pursuit of excellence in the physician revenue cycle management industry by delivering effective solutions through its proprietary technology, personalized service and measurable client results. Currently, the company serves more than 8,000 physicians in all 50 states. For media inquiries, contact Tara Rowland at firstname.lastname@example.org. For more information about Zotec Partners, visit http://www.zotecpartners.com.