The MDeverywhere Chapter Part 2 - Newton's Laws of Motion

One of the most interesting learnings from my time as CEO at MDeverywhere is the power of momentum. Positive change begets more positive change. Once you reach a critical inflection point, the pace of progress accelerates to an exciting level. That is the "zone" where you have broken through inertia and the expectation and excitement of success and forward movement builds on itself to the point where exceeding goals becomes the norm.  

In my last year at MDe, we launched more than 50 new versions of our market-leading revenue cycle system, Practice 1st, including a game-changing version that included many new features/benefits. Practice 1st 4.0 included enhanced My Lists and Division Lists, Pre-Auth Appointment Types and Edit added on Appointments, Optimized Mobile Experience and an Improved User Interface. Customer feedback to the system updates was through the roof positive. Continued development of our online customer onboarding portal, Client 1st, added many new features. While EKOS, the proprietary work management system, experienced major leaps forward in incorporating refined work queues and enhanced reporting and monitoring of additional work streams including pre-bills. We launched Patient 1st Communicator incorporating text and email appointment reminders for patients and adding much tighter integration with Practice 1st. We launched an online training portal to help our clients prepare for ICD-10. These online courses were specialty-specific, proctor-led and designed to be rigorous as well as flexible. Finally, the transition to a new clearinghouse offered much greater flexibility and visibility in our claim submission processes.

Our marketing efforts showed tremendous progress in establishing MDeverywhere as the thought-leader in physician revenue cycle. We distributed over 1 million emails with value-added content and information and hosted webinars attended by more than 5,000 prospects. This was done leveraging new marketing automation and content curation tools and systems. These efforts resulted in a dramatic increase in online leads coming both through native web searches as well as click throughs. Content creation became a major strength with a daily blog of comprehensive industry content, a weekly newsletter and numerous topical white papers. 

Perhaps our biggest shift in operations came in instituting a 5-day turnaround on resolution of denial ANSIs. Bringing all of our focus and resources to the rapid resolution of denials on the front end instead of working AR on the backend, ensured that cash came in quickly and receivables neared zero. We were also better able to identify trends quickly and put in place strategies and rules to mitigate.

And all of this progress translated into tangible financial success with operating metrics all continuing on a positive and accelerating trend. MDeverywhere had reached a point where we were not only hitting industry benchmarks but were SETTING industry benchmarks. The clean claim rate and collection yields were higher than any known competitor as we focused continually on reducing denials and increasing automation. And of course, this had a positive impact on overall profitability as EBITDA margins increased 33% year over year as a result.

And clients also noticed as significant revenue from existing clients bolstered our top line. Additional business from current customers is the the best signs of all of high client satisfaction!

Not to say that any of this was easy but what is now very clear to me is that Newton's law of motion work the same way in a company as they do in the lab...

• An Object that is at rest will stay at rest unless an external force acts upon it
• An Object, once in motion, will stay in motion!