It’s been an exciting ride over the past 15 years, watching our company evolve and adapt to the ever-changing healthcare landscape. Anyone who has been reading our blogs over the past several years can attest to the knowledge we’ve gained by working alongside healthcare professionals to tackle a variety of modern healthcare business challenges: helping department leaders staff teams with qualified professionals; partnering with IT departments to evaluate their systems and implementation strategies; and working with revenue cycle departments to help identify untapped sources of revenue. It has been a tremendous learning process.
One of the biggest achievements we’ve accomplished at Hayes is overseeing the growth and development of our flagship software platform, MDaudit. We launched the original product to the healthcare market fifteen years ago as a tool to help compliance professionals monitor the accuracy and integrity of their medical claims. Since then, the product has grown into a full-scale enterprise platform that represents the “cumulative knowledge and know-how” of many of the best minds in healthcare representing some of the foremost medical institutions in the U.S.
In 2018 we on-boarded our largest MDaudit client ever, and it’s exciting to now see “compliance auditing at scale” where we can create – for the first time – a significant industry data repository containing records from nearly 700,000 inpatient admissions, 15 million outpatient visits, and nearly 50 million professional visits! With the cloud-based version of MDaudit, compliance professionals now have access to an unprecedented library of billing compliance benchmarks that will benefit the entire healthcare community. This valuable resource exemplifies our philosophy of sharing best practices with like-minded professionals across the industry. We will continue to develop shared content that can be leveraged across organizations in order to maximize the knowledge and efforts of our user community.
We’re extremely privileged to support this community of thought leaders and business professionals who dedicate themselves to ensuring that the medical payment gears continue to turn smoothly by aligning patient care and medical billing practices with payer regulations.
Meeting the Evolving Needs of Our User Community
As our user community has grown we’ve recognized that we have a major opportunity – as well as a responsibility – to support the needs of compliance professionals by making sure our MDaudit software remains true to the needs of the industry as the healthcare landscape continues to evolve. Not only does MDaudit need to evolve to support the continuously changing healthcare regulations, but we also need to ensure that as data science evolves and analytics play a greater role in helping organizations identify and manage risk, we must embed the most sophisticated approaches within our solutions to help organizations optimize their financial performance in order to achieve their mission of delivering safe, cost-effective patient care.
To make good on that goal, we’re planning several significant enhancements to the MDaudit Enterprise platform, which are scheduled for release later this year and into 2019. Our product development team has been hard at work building new features for coder auditing, provider management and prospective auditing, and we’re very excited to see them coming along. Many of you are currently participating in MDaudit Development Advisory Groups to help us “road-test” these features to make sure they will meet the needs of the auditing community, whether you’re on the physician (“profee”) billing side or the hospital billing side. We look forward to sharing these features that many of you have requested to make it easier to achieve your target quality levels with these key stakeholder groups.
A Focus on Continuous Improvement
As a routine order of business, we survey our clients about their needs and experiences with our solutions, so we can learn what we’re doing well and what we can do to improve. We speak to both compliance and revenue integrity professionals who regularly tell us how much they value having a robust solution that streamlines their auditing processes, helps them create a closed-loop process for ensuring corrective action, and ultimately protects their organizations from the negative consequences of non-compliant medical billing practices. Being part of a community of professionals that willingly shares their insights so we can continuously refine the tools and methods for accomplishing these common objectives is to everyone’s benefit.
As we look to the future growth of Hayes and MDaudit, I’m very gratified by the past success that has brought us to where we are today. I’m also extremely energized by the possibilities that lie ahead as we continue to play an important role in supporting the healthcare compliance and revenue integrity community. As we move into 2019, we will continue to share what we’re learning from our clients so we can continue to help everyone in our community remain financially strong and secure, thus supporting your mission to deliver safe, affordable healthcare to your communities.