Virginia-Based Medical Center Radiologists Renews RCM Services Agreement with Zotec Partners
Long-standing relationship built on business transparency with exceptional technology
INDIANAPOLIS (May 4, 2016) – Zotec Partners (Zotec), the industry-leading provider of radiology revenue cycle and practice management services, announces a revenue cycle management (RCM) services renewal with Medical Center Radiologists (MCR), the largest radiology practice in Southeast Virginia, providing radiology services to Hampton Roads for nearly 60 years. In the extended agreement, Zotec will continue to manage the practice’s revenue cycle, improve cash flow and negotiate contracts with carriers.
MCR is a long-time Zotec client that believes in the company’s proprietary technology and uses the business transparency it provides to optimize revenue, according to David J. Law, executive vice president of sales and marketing with Zotec. He states, “With Zotec’s Comprehensive Zotec Analytics and Reporting (CZAR), MCR has full access to business intelligence capabilities, reporting tools and decision influencing metrics that continue to enhance its cash flow and operations as we move forward.” He also cites that Zotec’s ability to negotiate carrier contracts on behalf of the practice will positively impact its financial success, adding, “We have a proven team of people who are skilled in contract negotiations and they deeply understand the guidelines and idiosyncrasies associated with each payer. With access to vital information and metrics concerning diagnosis claims, claim denials per carrier, and patient bad debt, as examples, we will be able to use this data to negotiate the best rates for MCR.”
Dr. Adam W. Specht, Vice President of MCR, remarks the practice looks forward to this continuance of the relationship with Zotec, stating, “We continue to entrust our business to Zotec and we appreciate the company’s long history of exceptional performance.” Dr. Specht also adds that, part of that performance is due to the company’s transparency and analytical technology, both elements that have been critical to the practice’s success in an ever-challenging reimbursement environment. “With the amount of information we have at our fingertips at any given time, we are able to immediately track claims and identify payer denials, optimize revenue and decrease business costs – while also negotiating the best possible contract rates with insurance carriers,” he says.
MCR is comprised of 46 experienced, board-certified physicians who provide a complete range of imaging services to four hospitals and six imaging centers in Hampton Roads. The practice’s well-trained radiologists have completed sub-specialty fellowships, covering nine separate sub-specialty areas of imaging, allowing the group to provide exceptional care, with physicians who are available 24/7 to deliver continuous expert care to its patients.
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 innovative software, personalized service and measurable client results. Currently, the company serves more than 8,000 physicians in all 50 states. For more information about Zotec Partners, visit http://www.zotecpartners.com.