MedXPrime. Extending the “Halo” concept, in September 2014 we expanded into the medical arena with a new division, MedXPrime, by introducing a genetic test that helps to prevent adverse drug reactions. We have continued to expand MedXPrime by offering doctors and medical facilities other services which provide better healthcare to their patients and increased revenue for their practice.
This video, The New Era of Personalized Medicine, features the Director of Pharmacogenetics at the Mayo Clinic, Dr. Richard Weinshilboum, and the Dean of the Vanderbilt University School of Medicine, Dr. Jeffrey Balser, speaking about the importance and value of this breakthrough technology. This will give you an idea of the potential of what we have created with MedXPrime in this new era of “Personalized Medicine”. PGx testing is truly “Tomorrow’s Medicine, Today”.
View a 4-minute presentation on “The New Era of Personalized Medicine”:
We are on the cusp of a fascinating new era of healthcare, literally a new frontier in the world of medicine.
Genetic variability has long been accepted and promoted within both the scientific community and the healthcare industry. Advances in molecular testing, and completion of the mapping of the human genome in particular give credence to the fact that patients respond differently to medications based on their individual genetic makeup. Such advancements brought about the concept of personalized medicine, the practice of using an individual’s genetic profile to guide decisions for the prevention, treatment, and diagnosis of disease. Correspondingly, a major problem in the healthcare industry is the variability of drug efficacy from patient to patient. While some patients complain about the lack of effectiveness, other patients suffer from adverse drug reactions (ADRs). Personalized medicine has the ability to alleviate the burden of individual genetic variability and the resulting varied drug response across different patient populations.
In the United States, ADRs create up to $100 billion in costs annually, and over 125,000 deaths every year. Accordingly, ADRs have been described as the fourth leading cause of death in the United States, only surpassed by heart disease, cancer, and strokes. Studies attribute 6.5% of hospital admissions to ADRs, with the average hospital stay estimated at four days. On average, ADRs extend patient hospital visits up to four days, which result in additional fees of up to $46,000; so for a 350-bed hospital, managed care costs associated with ADRs are approximately $2.8 million annually. Addressing the health and cost implications of ADRs, personalized medicine facilitates cost containment while improving patient care and quality of life.
Aside from the resulting financial burden, ADRs significantly impact health outcomes; patients report decreased quality of life, which often results in more testing to identify the cause of their symptoms. An often-overlooked consequence of ADRs is the impact on patient adherence. Patients neglect to follow prescription guidelines due to their lack of faith in drug efficacy or the belief that they are prone to side effects from their medications.
Pharmacogenetic testing (PGx) results provide physicians with concise, medically actionable information about a patient’s genotype, thus allowing them to make effective treatment decisions. Because a patient’s genotype remains constant, PGx results can be used to inform medical treatment throughout their lifetime.
Pharmacogenetics testing can be particularly useful in:
- Patients demonstrating sensitivity or lack of symptom relief
- Patients with chronic conditions and multiple prescriptions
- Patients with a history of poor compliance
- Patients with pharmacotherapy failure
Doctors will know the following information for their patient:
- Gene, genotype, phenotype; drug, food, and alcohol interactions for a patient’s current medications,
- Free consultation with a pharmacogenetics trained pharmacist
We are now at a turning point in medical care, literally a new era of diagnosing and treating patients with what is referred to as ‘Personalized Medicine’. It means saving millions of people from the consequences of adverse drug reactions along with many other benefits. “Personalized Medicine” is simply the science that allows us to predict a response to drugs based on an individual’s complete genetic makeup.
Contact your MedXPrime Associate for more information and get tested now!
Insurance A/R Recovery and Billing – MedXPrime Revenue Recovery (mr2).
If you are like many offices you most likely have tens of thousands of dollars in Insurance Accounts Receivables (A/R). This issue has become a major headache across the medical community. Most billing companies do not have the skill set, and frankly don’t want to put the effort into collecting aged Insurance A/Rs because it’s very tedious and time consuming.
Widespread Issues prevent collection of your money:
- 30-40% of claims are left uncollected and the money never gets to your bank account. Those are exactly the claims that we excel at collecting!
- Many billers and billing companies don’t have the skill set to understand the claim denials and don’t have the time to invest to correct denials
- mr2 on the other hand is not only willing to invest the time, but we also have the expertise!
- Bottom line, most billing companies are complacent, or lack the knowledge to chase the 30-40% of your uncollected money and would rather just focus on the 60-70% “easy money” while we love chasing after, and capturing the more difficult money. We really want to put that money in your bank account, where it belongs!
Please watch our concise and compelling 4 minute video of mr2:
Our NO-COST “WOW Report” has the answers:
- In 48-72 hours, we invest extensive time and labor to prepare a no-cost, detailed sample analysis explaining why you have thousands of dollars in outstanding insurance A/R. These efforts will validate our expertise to earn your business.
- Our ‘WOW Report’ shows you where your billing company or staff missed the mark. We provide a specific road map to potentially recover significant amounts of lost revenue.
- One of your most valuable but frustrating assets is your insurance accounts receivable. We help doctors/clients just like you to potentially recover thousands of dollars in lost A/R.
- We turn aged accounts into real bottom line assets. We put money in your bank that was not there before and was very likely never going to be.
WOW Report: Initial sample no-cost analysis of your Accounts Receivable
The ‘Wow Report’ is a no-cost detailed sample analysis of aged accounts receivable that causes doctors to say “WOW” continually as we review it with them on our follow-up online presentation. This analysis is delivered to the doctor within 48-72 hours after we get the green light to prepare the report. The first call to explain the “WOW” report typically takes 15 minutes. Then during the follow-up online review, we share information that frankly has not been shared with the doctor by their current biller. We often hear multiple ‘Wows’ during the review from the doctor; hence, we coined the phrase, “WOW Report”. We’ll tell you exactly why your claims are unpaid and precisely what needs to be done to correct the claims to try to get you paid. This is a very costly investment of our time and resources that we happily provide to you to earn your confidence and trust in our capabilities.
We’ll show you things that your current billing staff or billing company haven’t shared with you. You will learn if your people are doing a good job or, more importantly, you will know if they’re not.
Easy Preparation for the WOW Report. We ask for a simple Detailed Aged Accounts Receivable report, along with the claims information either in the form of a Patient Demographic report or copies of the claim forms to give us the necessary claim information. We will also need the Physicians’ Tax ID numbers, NPIs and Medicare PTAN (if you bill Medicare).
MedXPrime Revenue Recovery is known as “mr2” as a means to express that we always strive to deliver our services to the highest power. We go to the greatest lengths and expend our greatest efforts, multiplying our resources to ensure our clients’ full satisfaction. These are not mere words; we have developed this as a culture within the MedXPrime family of services since the inception of our company.
Focuses on “one-percenters” that many billing companies rarely target. Our highly prioritized and proactive communication via regular, updated reporting keeps clients informed. We strive to maximize your income, increase your monthly cash flow and help recover thousands of dollars in lost A/R.
mr2 provides billing services for all physician specialties, as well as hospitals, laboratories, dialysis units, outpatient rehabilitation facilities, and home health care facilities. We work with large and small groups as well as individual practices.
Humbly… we bring experience that is hard to match!
Our Distinct Differentiators:
- Highly Competitive Pricing – with our extensive knowledge, experience and service, clients are amazed at the low cost for our services
- Bulldog Tenacity – we work dollars as if they were ours
- We prove our abilities by providing a labor intensive “No-Cost A/R Analysis”
- Absolute Accessibility – we are extremely responsive and proactively communicate
- We do nothing without clients understanding and approval
- Never arbitrarily “write off” clients” money without their approval
- Bottom line: “Total Transparency & Total Clarity”
- Extremely compliance driven – absolute highest priority
- 100% U.S. Based Billing Team
Our team’s experience includes:
- All medical specialties as well as Dialysis Centers, Outpatient Rehabilitation Therapy Centers, home health facilities, hospitals and laboratories.
- Medicare/Medicaid Revenue Cycle Management, as well as most Commercial insurances
- Managing commercial appeals, Medicare appeals, ADRs, RAC Audits, MAC redeterminations, ALJ hearings, as well as Medicaid appeals nationwide
- Specialty A/R collections such as Third-Party Liability, Workers Compensation and Medicare Secondary Payer claims
- Analyzing accounts receivable to formulate effective plans of action for A/R clean-up projects
Why do most medical billing companies choose not to focus on insurance A/R?
It is extremely time intensive; our team has the knowledge and experience with a sincere passion and commitment to get every dollar owed to our clients. This is a major differentiator between MedXPrime Revenue Recovery and other companies.
Why are we so successful in collecting on old claims?
We understand the issues that cause denials: Incomplete or incorrect coding, bundled services, pre-authorizations or referral not obtained, demographic errors on claims, failure to prove medical necessity, missed timely filing deadlines and more.
mr2 has a clear understanding of corrective actions to take regardless of the denial reason given. Our team’s track record and experience in this area are what set us apart from the competition.
We can not only potentially collect on old claims but the information we share helps the client in reducing denials in the future.
U.S. Based Pros. Many companies outsource to companies overseas where much of the work is done by inexperienced personnel. We take pride in being a 100% US based company with all personnel located in America. When you call us, you can feel comfortable knowing you are speaking with a highly skilled representative right here in the USA.
We are on a mission to save lives with PGx testing and are dedicated to helping our representatives ‘Do Well by Doing Good’. With mr2 we can improve a doctor’s bottom line significantly with A/R recovery and increase their monthly cash flow with more effective and efficient billing.
Business Opportunity. Along with these life-changing services, Financial Halo/MedXPrime also offers a unique and lucrative business opportunity of ‘Doing Well by Doing Good’ with a generous compensation plan, training and support. Our core precept for our Associates is to create a business in which they can create multiple streams of income from diversified profit centers by combining much-needed services for doctors and hospitals that will increase their revenue with mr2 along with a means to save lives by reducing Adverse Drug Reactions with pharmacogenetic testing. Creating relationships across different areas of interest allows our representatives to build a business with multiple streams of income from diversified profit centers.