Tag Archives: doctor referral

Age old referral process

The rate at which physicians refer patients to another physician has doubled over a period of 1999 to 2009. This increasing rate is steady across all groups and is growing even when majority of the physicians who had ownership stakes are moving more into an employee role with hospital systems. However still the referral process has been stuck with age old processes such as paper, fax without the ability to gain or track any intelligence out of it. Even today, many companies are focused on sending referrals over an glorified fax over email mechanism versus taking a harder closer look at the process. Some technology organizations tend to do the back end analysis however that doesn’t work especially majority of the physicians refer outside the system as the referral processes are complex and cumbersome to operate within an EMR or practice management system. Without simplifying the referral process with clinical integrations, no data that you mine will be of good. You will never know which one of these contributing factors are increasing your referrals outside the system and lead to referral leakages. Also in order to have a satisfied patient, all physicians who are involved in the referral chain needs to be constantly updated and have access to patient’s clinical data to provide a comprehensive care. If you want to know, how MedVoy is solving the age old referral process challenges, contact us now.

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Referral Leakage – Increasing Issue Impacting Profits

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Referral Leakage is lost revenue or volumes from patients being referred outside of your provider network – causing you to lose the referral dollars that you were expecting. Only 35-45% of referrals for adult inpatient care, measured by revenue, go to a partner hospital and this issue is expounding due to lack of preferred tracking mechanisms, lack of cross-EMR integrations, use of inefficient technologies, such as paper and fax, along with overall industry trends.

Referral leakage is a growing issue because the competition for referrals is increasing. In the past 15 years, the number of specialist has nearly doubled, and the advent of urgent cares and pharmacies has further diluted patient referrals. Hospitals are also buying up private practices in droves and refer within their own network, which hurts the remaining private practice specialist. Lastly, traditional networking, such as conferences and rounding as hospitals are waning so physicians are seeking new ways of networking. Compounding these overall trends is the reliance on antiquated and inefficient technologies, such as phone and fax which can stymie the referral management process and has no tracking and limited patient data.

MedVoy’s referral management software provides the solution to track referral leakage.

Provides a lightweight patient portal to track and manages referrals and to schedule appointments online
Refer directly to providers in disparate networks, including physician-to-physician referrals
Provides a sophisticated business intelligence layer that tracks ROI and your best referral sources
Offers a new way to network and assists the marketing department in physician outreach

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Medvoy referral management product launch