Healthcare, Charge Description Master, Billing, Revenue Cycle Services

Fort Pierce, FL (Saint Lucie County)

Healthcare, Charge Description Master, Billing, Revenue Cycle Services
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Asking Price: $16,995,000

Cash Flow: $450,000

Gross Revenue: $500,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 1996

Healthcare, Charge Description Master, Billing, Revenue Cycle Services

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Business Description

Healthcare Consulting & Education

About MedCompliance Services Inc. - MSI

MedCompliance Services, Inc. is a Florida based corporation established in 1996. Its sole proprietary CDM Editor solutions were launched on Oct 1, 2000. This established MSI as an industry leader in CDM Cleanup & Education for all hospitals, clinics, ambulatory surgical centers and physician practices located across the world. Today thousands of CDM’s have been reviewed using the MSI CDM Editor not only in the USA but from other countries such as England, Mexico, United Arab Emirates (UAE) and Ireland.

MSI CDM Editor

The MSI CDM Editor is a scrubbing solution that is web-based software. It is capable of delivering a detailed report of all problems in Charge Master directly to Microsoft Excel reports. The Editor is comprised of hundreds of alerts that report incorrect CPT/HCPC code assignments, description issues, pricing issues, revenue loss, modifier issues, and both coding fraud & abuse and RAC errors. This detailed information is vital to the correct coding standards healthcare providers are held too, and if not corrected, will eventually lead to government audits that might result in fines. These audits and resulting fines show the importance of proper CDM clean up.

A full overview of CDM Cleanup can be found on our website: https://medcompliance.com/services/cdm-review

Projected Revenue Recovery

The software provided can reveal revenue losses in excess of a million dollars that can be then regained. The cleanup process involves a licensed Charge Master consultant, who will be trained to translate the alerts & issues found by the software. Then the consultant will assist in completing the actual required changes needed. Alternatively, the hospital may decide to perform the clean up without the use of a consultant. Statistics of possible revenue loss are gathered initially, and placed on a report provided to the client as an example of their possible revenue recovery based on optimization of their Charge Master. Based on those results the client can then move forward with the complete review.

Monthly Revenue Projections

There are three revenue streams generated by the MSI Editor.

#1 CDM Review is $10,000 to $35,000 per client facility
#2 Monthly Maintenance $1,500 to $3,000 per client facility
#3 Consulting and Education $5,000 to $10,000 per client project.

These amounts can be increased by expanding the available reporting & review features built into the MSI Editor.

Annual Revenue Projections

Ten (10) hospitals can bring revenue upwards of $250,000 in CDM Review the first month and additional revenue from education, maintenance and onsite review will be another $25,000 per month. If each month ten more hospitals perform the review, the overall revenue in reviews alone would be $3,000,000 annually. After the first year, those hospitals would bring in an additional $300,000 in maintenance and onsite reviews alone. With the potential for new CDM reviews monthly across the world, as well as ongoing monthly maintenance, the revenue would be a continued steady stream.

The 2017 US Market that can utilize the MSI Editor

Estimated number of Hospitals: 5,564
Estimated number of Clinics: 20,000
Estimated number of Physician Practices: 230,000
Estimated number of CPA firms: 42,000

Each of the above qualifies as a potential client for the MSI Editor. Hospitals and clinics work with Charge Master Data and are under the same laws for medical billing. CPA Firms also service hospitals and clinics, opening more potential for revenue.

Detailed Information

Location:
Fort Pierce, FL
Employees:
2
Facilities:
Current client base and sole proprietary CDM Editor Software solutions. (Home Based)
Competition:
Clients converted from our competition are comforted by the services we provide due to the amount of detail we provide during analysis. There are very few companies on the market offering these services.
Growth & Expansion:
Debt-free corporation with no overhead. Unlimited growth potential.
Support & Training:
The original team will be available to hire for an extended period of time. The original developer of the MSI CDM Editor and Healthcare Consultant can be available to further educate & assist in driving the platform for an indefinite period of time or until suitable replacements are found. The terms of hiring can be negotiated at the time of purchase.
Reason for Selling:
Part Time Retirement
Home-Based:
This business is Home-Based
Business Website:
http://medcompliance.com
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Business Listed By:
Jessy Huebner

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