Healthcare Providers Increase Revenues, Avoid Penalties Through Covisint PQRS Program
DETROIT -- The Covisint secure communication and collaboration business of Detroit's Compuware Corp. (Nasdaq:CPWR), Monday announced it has topped the $30 million mark in money returned to healthcare customers through the company's easy-to-use physician quality reporting system.
This achievement extends Covisint's position as one of the nation's PQRS submission leaders.
The March 8 PQRS submissions deadline is fast approaching for the final opportunity to earn reimbursements in the last penalty-free year of this program.
Covisint provides multiple reporting options, including a larger enterprise data-mining system and, for individual providers or smaller practices, a Web application that can take as little as 30 minutes to satisfy PQRS submission requirements.
As accountable care organizations and other shared savings programs expand, Covisint's PQRS submission program offers a speedy path to gain experience in ACO reporting due to the overlap in chronic disease and preventive care measures. Covisint has a 90 percent-plus PQRS customer retention rate.
Covisint lets providers use data captured during patient encounters, traditionally enabling them to earn an average of $1,000; practices can earn up to as much as $18,500 depending on their Medicare Part B Fee-for-Service allowed annual charges.
This year, Covisint encourages providers to report for three key reasons:
1. to earn the 0.5 percent bonuses available from Centers for Medicare and Medicaid for 2012;
2. to gain the experience needed to successfully report in 2013 -- avoiding payment penalties of 1.5 percent on their 2015 fee schedule; and,
3. to collect and report information needed to maximize ACO, medical home and other shared-savings program payments.
Covisint helps eligible providers, ranging from single-physician practices to large, multi-specialty groups to hospitals. Both electronic and paper data collection methods can be accommodated. This year, Covisint added seven new measure groups and an individual measure reporting option that enable more physician specialties -- for example, ophthalmologists, radiologists, anesthesiologists, etc. -- to easily take advantage of CMS reimbursements.
"Covisint's continued thought- and revenue-leadership for PQRS has resulted in an incredibly intuitive and cost-effective solution," said Steve McDonald, Covisint vice president of healthcare. "We will continue to earn the confidence of customers seeking reimbursement from PQRS, ACO and other programs rewarded on quality and performance metrics."
To speak with Covisint directly, call (866) 823-3958 or email the company at info.covisint@covisint.com.
More at www.covisint.com.
