The Company

RCM Leader in Charge Capture Solutions for Healthcare Providers

Physician-founded MedAptus was incorporated in 1999 with the belief that in order for point-of-care technologies to make sense, they must be easy to use, deliver demonstrable financial benefits and also leverage an organization’s current information technology investments. Over a decade later, this belief set still rings true.

The first MedAptus product was a PDA-based physician coding tool, borne of the ‘mobile healthcare’ era. Now known as Professional Charge Capture, the technology is both mature and robust, as evidenced by the thousands of savvy providers that use it for every patient, every charge. MedAptus also offers the industry’s only technical charge capture tool for hospital outpatient clinic coding and billing. Our growing customer base includes groups that range from smaller single specialty practices, to larger multi-specialty groups, to prestigious academic medical centers.

MedAptus, Inc. provides point-of-care intelligent charge capture solutions and services. It offers Practice Plus Edition, a solution that is used at single-specialty groups, multi-specialty clinics, and academic practice plans; Inpatient Edition for hospitals to ease patient management tasks in addition to ensuring charge capture; and EMR Edition, which is designed for physician groups. The company also provides Enterprise Edition, which is designed for large groups, including academic centers and integrated delivery networks; Facility Edition that is created for hospital-based outpatient clinics to eliminate paper, manual coding and charge reconciliation, and charge data master maintenance processes from daily workflow; Risk Severity Toolkit to help provider groups measure and manage the disease burden of patients covered under risk-based contracts; and Infusion Services Edition, which supports the capture of infusion services and related charges allowing nurses to spend less time on paperwork and more time with patients. In addition, it offers Technical Charge Capture software that helps to standardize the outpatient facility billing process by automating charge creation and operational management across the ambulatory care team; and consulting services. MedAptus, Inc. serves small single-specialty practices, large multi-specialty groups, and academic medical centers. MedAptus, Inc. was founded in 1999 and is headquartered in Boston, Massachusetts.

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MedAptus Product & Services Offerings

Professional Charge Capture (Pro)

MedAptus’ Professional Charge Capture (Pro) is a flexible, scalable solution in use at single-specialty groups, multi-specialty clinics and academic practice plans. Pro offers functionality for physicians, mid-level extenders, residents and administrative support personnel. Customers that have adopted Pro find that it is a robust yet easy-to-use system that can help improve revenue, accelerate cash, drive efficiencies and yield enhanced coding and pay-for-performance compliance.

The Pro physician workstation is used in practically every setting of care, by virtually every type of generalist and specialist. Beyond easing the charge capture process for busy providers, Pro also helps streamline related back-office activities through the complementary, integrated coder workstation. This tool is used by administrative personnel to review charge activity and reconcile visits in real-time in order to ensure accurate and timely billing.

For providers that deliver patient care at multiple locations and seek mobility, Pro is additionally available on the iOS platform. The benefit of mobility is especially embraced by hospital-based providers such as hospitalists and intensivists who also enjoy Pro’s integrated communication and messaging features and advanced rounding list management capabilities. Regardless of where a provider sees patients or how she/he accesses MedAptus, seamless integration with scheduling, registration and EMR systems supports efficient patient and visit management within the system.

Rounding out the Pro suite is a standard reporting and analytics module geared towards helping customers achieve higher financial return. The tool’s timely reporting capability across numerous revenue cycle indicators is embraced by medical group leadership for helping to deliver measurable operational improvements.

Provider Enrollment

MedAptus believes that provider organizations must have a comprehensive physician and allied health provider credentialing solution in order to capture as many billable dollars as possible. This is why MedAptus has introduced MedAptus Pro Enrollment, powered by Newport Credentialing Solutions. Pro Enrollment leverages Newport’s patent-pending, cloud-based workflow and analytics software, and is available along with a robust set of IT-enabled outsourced services. By combining each step of the credentialing life cycle into an intuitively designed suite of revenue-driven workflow tools and steps, this MedAptus offering empowers revenue cycle savvy customers to take control over their credentialing department’s operational and financial performance.

With MedAptus Pro Enrollment, provider groups can conduct their credentialing in-house by utilizing the nation’s only cloud-based credentialing workflow and analytics software, CARE. Or for groups that would prefer less administrative work, Pro Enrollment can be purchased as a best-in-breed IT enabled service that has delivered significant ROI for groups large and small. Lastly is the hybrid option whereby credentialing is outsourced, yet transparency is provided via full access to the CARE suite of reporting, analytics, and business intelligence software.

Technical Charge Capture (Tech)

As services increasingly shift from the inpatient arena to the outpatient setting, hospitals often find themselves contending with complicated coding and billing workflows and sometimes unclear compliance requirements. EMRs may help manage a center’s clinical workflow but largely are not capable of addressing these types of issues. MedAptus’ Technical Charge Capture (Tech) was created for hospital-based outpatient clinics eager to ease compliance concerns and eliminate paper, duplicative entry and manual charge reconciliation tasks from daily coding processes.

The patented MedAptus Tech product eases and standardizes facility billing by automating the charge creation process across a care team from a clinician workstation. A key feature of Tech is its ability to translate physician procedural coding on the professional side into appropriate charge data master (CDM) codes for billing. Physician diagnosis codes can also be made available to clinical staff. Tech can additionally propagate CDM updates to the point-of-care, further ensuring charge accuracy and greatly reducing the historical burden of forms management. This is all managed from the administrative hub of MedAptus’ technology, the coder workstation. Back-office personnel rely on the coder workstation for the execution of critical tasks that range from real-time review of charge activity to reconciling outpatient visits in order to ensure all charge opportunities have been capitalized on.

Tech utilizes inbound scheduling feeds to populate end-user schedules and patient demographic information. This integration is completely seamless. Split-billing environments may optionally integrate professional charge data to allow for charge cross-reconciliation. This helps reduce duplicative tasks and further ensures optimal reimbursement by identifying missed charges and potential compliance denials.

Infusion Services Charge Capture

Coding and billing for infusion services is highly challenging. Multiple and concurrent therapies delivered in a single clinic visit… strict and changing regulations that govern reimbursement for these high cost services... a coding hierarchy that must be conformed to for compliance and payment purposes. For outpatient infusion clinics, missing just one service on a charge can drive a significant loss of revenue.

Groups interested in streamlining and improving their infusion coding turn to MedAptus’ Infusion Services (IS) module for the compliant capture of these complex services. Adoption of the module allows busy nurses to spend less time on paperwork and more time with patients. Nurse-users simply indicate the services delivered on an electronic worksheet in the module’s nursing workstation. From here the software automatically translates the entered information into compliant codes based on the infusion coding hierarchy, and mapped to charge data master (CDM) for billing.

Much like MedAptus’ other core products, once charge data is entered, it is viewable on an integrated coder workstation. Back-office personnel rely on the workstation for the execution of critical tasks that range from real-time review of charge activity to reconciling visits in order to ensure all infusion charge opportunities have been capitalized on. Groups, depending on workflow and existing systems, may also choose to utilize the coder workstation to create charges from clinical documentation.

IS utilizes inbound scheduling feeds to populate clinic schedules and patient demographic information. This integration is completely seamless. Split-billing environments may optionally integrate professional charge data to allow for charge cross-reconciliation. This helps reduce duplicative tasks and further ensures optimal reimbursement by identifying missed charges and potential compliance denials.

The Position

Detail of Responsibilities

The Company is seeking a seasoned and accomplished sales executive with an unusual combination of skills. However, there is no question that the most critical skill is a proven ability to build, top-grade, and expand the sales teams selling to the healthcare provider segment. The VP Sales will have a passion for and experience working with sales team members and segment specialist to increase market penetration.

Key skills, experience, and segment background include the following:

• INDUSTRY EXPERIENCE Healthcare provider Saas Software
  • Revenue Cycle Management (RCM) and billing software
  • EMR/EHR software
  • Practice management software
• COMPANY STAGE experience
  • Works well with hands-on single investor as operating partner
  • PE/private companies
  • Experience working with investors and board directors in closely held companies
  • Growth phase of company development & rapid revenue growth, $10-50M+
• MANAGEMENT & LEADERSHIP experience
  • Building scalable management processes without suffocating innovation/speed
  • Success as individual contributor and as player/coach
  • Remote/sales team management of 10+
  • Track record hiring/upgrading to A players for A team
  • Sales management, measurement incentive compensation & motivation toolbox
• FUNCTIONAL skills or experience needed
  • Consultative sales approach
  • Both direct and channel partner sales channels
  • Remote sales team management
  • Sales hiring/sales team building
  • M&A acquisition & integration
  • Hospital/IDN/medical practice customer rolodex
  • Business and product strategy

GENERAL:
Finally, this individual should have as many as possible of the traits required to succeed in this leadership position:

• High levels of intelligence, analytical strength and conceptual ability.
• The ability, and willingness, to set and communicate demanding standards for professional staff and to hold people accountable for their performance; at the same time, sensitivity to, and insight into individuals’ capabilities and development needs.
• Decisiveness when necessary, coupled with a willingness to seek input and build consensus as much as possible.
• Unquestioned honesty and integrity; also, loyalty to colleagues and to the organization, and the ability to inspire loyalty. This person should have the ability to identify and focus on the Company’s best interests, rather than the agenda of any individual or group within the firm.
• A very high level of energy and commitment, combined with enthusiasm and a positive attitude.
• Excellent writing and speaking skills; this individual must be able to communicate complex ideas and information clearly and concisely.
• Outstanding planning and organization skills.
• Good strategic instincts and long-term vision; the ability to address both big-picture issues and detailed, day-to-day management concerns.
• In general, the business and personal skills, and the absolute commitment, required to make a major contribution to The Company during the coming years.

Ideal Candidate Profile
The diagram below illustrates the intersection of competencies critical in the position:

The Team

The MedAptus sales team currently consists of approximately 7, with plans for additional growth. This is comprised of 3 in account management 4 in sales. The total MedAptus team numbers approximately 45.

Financial Backing

MedAptus was funded by private equity investor Boston Millennia Partners in 2003 and again in 2009. Boston Millennia Partners has an investing thesis whereby they find promising “platform” companies in which to invest, and then help to grow those companies both via organic growth and strategic acquisitions.

Compensation

Compensation is competitive with the position’s requirements. In a performance-based environment, this will include base salary, bonus structure based on corporate qualitative and quantitative business development targets, and a stakeholder position in the company.

For more information...

Please contact:
Clark Waterfall, BSG Team Ventures
Sandra Dixon, BSG Team Ventures
Diane Amador, BSG Team Ventures