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Arizona healthcare company eliminates the financial burden of ICD-10 and helps physicians make more 11-Aug-2014

The Pre-Funding Program is designed to help eliminate the uncertainty of medical billing and insurance reimbursement payments to physicians and medical practices.

The Nobility Pre-Funding Program solves the problem of declining reimbursements and rising costs by providing medical practices with predictable revenue every month. This provides financial stability, opens up great opportunity for better care, and helps build more successful practices.

"Nobility Pre-Funding is the answer to the biggest challenge for physician medical practices and facilities which is getting paid on-time. Our program provides outright predictability of revenue and decreases the expense of utilizing an EHR." says Matt Gauer, COO of Nobility.

NobilityRCM creates the Revenue Pre-Funding Program to eliminate the burden of billing uncertainty.

The creation of Nobility RCM was as a result of the massive changes brought on by the Affordable Care Act also known as “Obamacare” and the challenges small, medium, and large healthcare practices face in getting paid from insurance companies. In particular the onset of the new ICD-10 coding practice guidelines.

In 2014 the American Medical Association (AMA) drafted a letter to the Centers for Medicare & Medicaid Services (CMS) expressing its concern over the financial burden for physicians practices to transition from ICD-9 to ICD-10.

The letter states:

“By itself, the implementation of ICD-10 is a massive undertaking. Yet, physicians are being asked to assume this burdensome requirement at the same time that they are being required to adopt new technology, re-engineer workflow, and reform the way they deliver care; all of which are interfering with their ability to care for patients and make investments to improve quality.”
- James L. Madara, MD
Executive Vice President, CEO AMA

ICD-9 to ICD-10 transition has major financial impact on practices of all sizes.

"The markedly higher implementation costs for ICD-10 place a crushing burden on physicians, straining vital resources needed to invest in new health care delivery models and well-developed technology that promotes care coordination with real value to patients," said AMA President Ardis Dee Hoven, M.D. "Continuing to compel physicians to adopt this new coding structure threatens to disrupt innovations by diverting resources away from areas that are expected to help lower costs and improve the quality of care.”

In 2008 the predicted cost to implement ICD-10 ranged from $83,290 for a small practice, $285,195 for a medium practice and $2,728,780 for a large practice. Based on new information, the 2014 study found the following cost ranges for each practice size based on variable factors such as specialty, vendor and software.

Small practice: $56,639 - $226,105
Medium practice: $213,364 - $824,735
Large practice: $2,017,151 - $8,018,364

NobilityRCM helps physicians succeed.

Independent medical practices and healthcare networks have struggled to maintain stable cash flow in order to meet the growing demand of patients as the Affordable Care Act continue to expand enrollment.

Many of the ACA (Affordable Care Act) plans have very high deductibles putting more financial responsibility in the hands of the patient and putting the practice in greater financial risk.

“After many years helping healthcare practices find higher revenue and better profits we created a system that took the risk out of the equation so they could focus on great patient care.” says Gauer.

About Nobility RCM
The main mission of Nobility RCM is to help physicians and practices achieve financial freedom through 3 core services that include Revenue Pre-Funding, Complete Medical Billing, and EHR support.

Visit NobilityRCM at www.nobilityrcm.com to find out more.

For Media Inquiries Contact:
James Riviezzo
480-518-3134
james@aflxhealth.com

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Free Yourself From the Uncertainty of Medical Billing (6396 KB) Find out how Nobility solves your billing problem and help you focus on your practice growth.
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