December 20, 2005

2006 Outlook: MedSynergies Says Larger Consumer Medical Bills Will Prompt Doctors to Adopt New Systems to Handle Collections

DALLAS – December 20, 2005 – In 2006 consumers will be responsible for a much greater portion of their medical costs – yet many medical groups lack the financial systems needed to effectively track and collect individual accounts.

“Most physician offices are not set up to collect bills. Many have no way to track and collect individual bills from patients when they are in the office. Instead, most practice management systems are designed to bill health plans after the patient leaves. For example, office staff cannot readily determine if the patient owes the physician a large amount due to a high deductible. Often, they can’t even tell if they have an outstanding balance from a previous visit,” said John R. Thomas, president and chief executive officer of Dallas-based MedSynergies.

Thomas said more and more physicians are turning to advanced financial software. With new online systems, the office’s front desk can present a bill for an overdue charge to a patient when he checks in. When combined with online eligibility verification, which some large health plans are now offering, the system can also quickly determine what portion of the current visit cost will be paid by the patient and not by the insurance.

In 2005 some 3.5 million people were enrolled in consumer directed health (CDH) plans such as health savings accounts (HSAs) or health reimbursement arrangements (HRAs), according to a recent survey. One large benefit consultant predicts the number will reach six-seven million people in 2006.

CDH plans typically have deductibles of a thousand dollars or more. This financial arrangement is a major change for both consumers and physicians, who grew accustomed to first dollar coverage of healthcare expenses during the era of managed care in the 1990s.

Now serving 1 ,000 healthcare providers in 26 states, MedSynergies integrates leading software programs into the daily operations of healthcare organizations. Founded in 1996, MedSynergies serves physicians in hospitals, specialty medical groups, ambulatory surgical centers, rehabilitation centers and IPAs (independent practice associations). Based in Irving, Texas, the company has regional offices in Fla., Ark., and Pa.

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