What are E-Signatures and How are They Affecting Healthcare?
What Are e-signatures?
An electronic signature by definition, established in the US Federal ESIGN...
Peter Lichty, MD, an internist at Southview Medical Group with 22 physicians in Birmingham, AL says, “Use SutureSign. It is a major selling point for companies requiring my signature since I can sign all of my orders from every company at once on the same system. It has allowed me to see an extra patient or two each week!” Because of SutureSign, Southview physicians have time to see an additional 1.85 patients/week. Using $80 for the average revenue per visit, this translates into an additional revenue opportunity of $7,104 per physician per year.
Additional Revenue Per Provider
Prior to SutureSign, Daniel Chattom, Dr. Lichty’s assistant, would spend 4 hours/week on outside paperwork. With SutureSign, he has reclaimed at least one hour per week while eliminating duplicate documents and a world of frustration.
“Before SutureSign, we would get electronic faxes constantly, and they would just pile up on my desk. Now with SutureSign, I go in once a week when I get my email reminder. It’s super easy and very fast, and SutureSign sends it back to the multiple agencies automatically,” says Chattom.
Using an average pay of $30/hour including benefits, this efficiency translates into savings of $130/month, or $1,560 annually, per nursing staff member. It is worth noting that if the staff paperwork time ends up being counted as overtime, the savings are even greater.
SutureSign has enabled Southview to capture an additional $300 of signature-related revenue per physician per month, or $6,600 for the practice per month. Prior to SutureSign, the practice’s error-prone process required them to fax copies of billable home health documents to their billing office causing them to miss opportunities. Missed billing opportunities are usually due to the staff being unaware of which documents are billable, simply forgetting in the midst of clinic chaos, or the document getting lost. Now they bill directly off of SutureSign’s comprehensive billing report – maximizing their revenue capture.
Collectively, including physician time, staff time, and signature-related revenue, SutureSign provides Southview with an additional $269,808 of working capital opportunity ($12,264 per provider) annually while significantly improving the satisfaction of its physicians and staff.