Microwize Technology’s mission is to help physicians’ offices overcome the insurance challenges they face daily.
- More than 25% of all healthcare insurance claims are denied when first presented for payment
- One-fourth of providers’ claims are returned unpaid. No other industry faces a collections problem of this magnitude
- 98,000 patients get serious illnesses or die a year
- 8% of charts are lost in the practices, and 800 billion dollars are wasted per year for unnecessary services
Microwize will provide the most modern and efficient software, hardware, and services to physicians’ offices to overcome their challenges while making a fair profit. Consider these facts:
How We Got Started?
It was an idle day in August of 1995, and he received a phone call from a family member indicating that his mother had been taken to the hospital. After spending four days at the facility, he learned how hard doctors work, day in, day out, and learned what little technology did to improve his mother’s quality of care in addition to not improving the quality of life of the doctors, nurses, and other caregivers.
A few months later, he was invited to a doctor’s office to observe their daily routine and he realized how much help they needed inside of their practice due to the complete lack of information flow within the office. While he was taking care of their basic computer needs, his curiosity regarding the medical industry was piqued. He did some research and found some incredible statistics:
- Healthcare already eats up 15.3 percent of our GDP at $2.2 trillion a year and that number is projected to reach $4 trillion by 2016.
- 150 million ineligible prescriptions are written every year.
- There are 1.5 trillion claims each year and a full 30 percent of those claims have errors while 15 percent get lost.
- 25% of claims are paper-based and it costs $20-25 manually to process them
- 35% of our health care dollars are spent on treatments that do not improve our health or are completely redundant.
- According to the Commonwealth Fund Commission, the US is experiencing 100,000 to 150,000 preventable deaths on an annual basis and spending $100 billion per year needlessly.
- Every year, 20 million unnecessary antibiotics prescriptions are given out, 7.5 million unnecessary medical or surgical procedures are performed and 8.9 million unnecessary hospitalizations occur.
- Every year some $400-500 billion is wasted on rework and error.
- At a Kaiser Permanente clinic in Sacramento, they have been able to reduce an average 55 days wait to one day by offering “open access” or “same day scheduling.”
- According to the Centers for Disease Control and Prevention, only 7 percent of diabetes patients get all the treatment they need.
- An estimated 100,000 surgical procedures were performed through robotics in 2007, from kidney transplants to prostate removals.
- We now have 100 million people with chronic conditions in this country and we can expect that number to reach 134 million by 2020.
- Today for many physicians, 50 percent of their patient load is price-controlled by a single payer—Medicare or Medicaid, and the other half by private health plans.
For more information, contact our consultants. Call 800-955-0321 or click here click here