Currently, the healthcare sector is facing a host of challenges, especially the revenue management cycle part of it. The payors have tightened their belts and adopted multiple checkpoints in paying-out the claims to the providers. Statistics show nearly 22 percent of the claim rejections, 65 percent of the un-appealed denials, 10 percent of incorrect claims, and 11 percent of revenue loss due to physical errors. The medical revenue cycle management process needs to adapt a smart and maximized automated service to minimize the revenue loss.

Mindgenix Pvt. Ltd. (MGX) was founded in 2018 by Directors with two decades of experience in Medical Billing and three decades of experience in heading healthcare software development. To become more efficient and productive, it depends on the bottom line billing and cost comparison analysis to eliminate waste expenses. The services provided are fee schedule negotiation, re-credentialing, EDI & EFT setup and real time patient verification to the entire healthcare value chain.

Effective Workflow

MGX handles the complex billing process with ease. The company’s medical billing process involves ten major steps. Through its cloud friendly software, it transfers demographic profile and revise information for quality check (patient demographics), rechecks the patient related claims on factsheet ensuring clean claims and less denials (eligibility), and has organized system to assess the critical point as per client (charge entry). Further, MGX translates the medical documents with sheer accuracy to fetch better revenue (medical coding). It undertakes EDI process to receive an EOB from the payers (submission & EDI interface), and posts these payments to the respective patient accounts against that particular claim to reconcile them (payment posting). It also solves denial process like a pro for healthy cash flow(denial management).

Collection has always been a herculean task for the healthcare industry. But MGX’s patient billing & collection service ensures timely collection of statements and recording of money receipt. The company also provides practice analysis and cash flow cycle report, credentialing and re credentialing, ensuring a robust work flow. As EDI is expensive, MGX does complete EDI setup for best practice management software for both professional and institutional platforms.

Muralidharan A, Director

The company also has a strong software team with rich experience in Healthcare software development. Its product division has a HMS and several medical software products used widely by the medical community, while its services division offers SaaS for small clinics and group practices based out of cloud implementation. “We are a pro in designing custom software, and offer cloud and web based solutions at competitive cost and superior technology,” explains Muralidharan A, Director, MGX.

We are a pro in designing custom software, and offer cloud and web based solutions at competitive cost and superior technology

The team also created ONC-ACB software for medical practices in the U.S. The software helps customize client requirements and deliver exactly what they require. It can further convert data in any format to the required one for processing medical bills, and even develop custom reports as per client’s need, thereby eliminating hours of manual work and errors in the process. “Our dedicated and professionally qualified team can quickly adapt to any software and process change, thus ensuring quick revenue, and their service delivery performed with utmost care and accuracy reduces cost on manpower by 15 percent,” explains Murali.V, Director, MGX.

Ensuring Watertight Security

MGX follows a strict professional code effective under PHI and HIPAA, and has three layers of security measures administrative safeguards, physical safeguards, and technical safeguards. The company is currently engaged in deploying new tools for transfer of data between legacy systems and HL7 standards based system to eliminate all manual data entry and errors faced during the process. It also has several automation tools in pipeline. With such innovative offerings, this nine month old company is witnessing positive revenue generation and aims to scale up the client base in the U.S. in next two years.