How They Rig the System – Chapter 2
Chapter 2 How They Rig the System We are getting to the root of the issue, but there’s a little more to the story. When I started Genesis Chiropractic Software, I partnered with people from the Wall Street financial technology world. One of my partners is the former CIO (chief information officer) of the top bank in the world. Another is a Princeton University grad with a computer science degree and extensive experience, specifically in building AI technology for hedge fund transactions. Why is that important? It turns out that insurance claim transactions between the doctor and the insurance company are rather simple. When my partners first looked at the process, their first reaction was this: “Oh, we can just get them to pay these claims in real time. The transactions on Wall Street are way more complex, and they involve many people at the same time. The only difference is that everyone involved gets paid by the end of the day. It’s the law!” Did you hear that? It’s the law! Here’s where it starts to get interesting. Far more complex transactions happen every day on Wall Street, right? So why wouldn’t insurance companies do the same? And the technology already exists to make that happen. Why isn’t there a law that says doctors get paid for a visit by the end of the day? That’s a great question. I’m glad you asked. But remember, I already said they make money on interest, right? And you know there is no good reason you don’t get paid at the end of the day. I’m sure you’re probably starting to see what’s going on here. Insurance companies start collecting interest as soon as you’ve seen the patient. But that doesn’t answer this question: Why isn’t there a law that makes them pay you by the end of the day? Collusion and Consolidation We have all heard a lot in the news about collusion when it comes to politics. Well, here is real collusion that is well known and even legal. Seventy percent of US citizens are covered by just three insurance companies. Why? The big companies have gobbled up the little ones. But why? Not to be more profitable, but to be more powerful! Gaining legal power by consolidation Oligopoly – An oligopoly is not a monopoly. It is an economic structure in which just a few companies affect but don’t technically control an industry. And they don’t prevent each other from having a major influence on the market. A monopoly is when one company has total control of an industry or product. An oligopoly has many of the same benefits as a monopoly, but the most important benefit is that an oligopoly is more legal, and a monopoly is illegal. Insurance companies make the rules – Since the insurance industry is an oligopoly, just a few insurance companies have all the money, they have all the lobbying power, and they make the laws and rules by default. Did you notice that I said more legal above? I’m glad you caught that. What laws are in place to prevent this? That is another great question. Antitrust exemption: This is amazing—don’t skip it! Rigging a marketplace by working together—as an oligopoly—could still be considered a violation of antitrust laws. These laws prevent companies from having exclusive control and thus price fixing. You might remember the huge antitrust case against Microsoft—United States v. Microsoft. In a capitalist economy, monopolizing is taken very seriously. Let’s say every chiropractor got together and said we would no longer accept less than $45—or maybe even $1,000—from insurance companies for an adjustment. Insurance companies would report it to the federal government. Those chiropractors would immediately be shut down. The insurance companies would be correct, because doctors cannot collude against insurance companies. Antitrust laws are important because they protect consumers. The law applies to every industry, right? Nope! It turns out that there are a few exceptions. Guess which industry is one of those exceptions. You got it—the insurance industry. They are legally allowed to collude against all physicians, not just chiropractors. And they’ve used their massive resources to successfully lobby for laws that protect them even further. Even if we could prove they were rigging the system, we have zero recourse! If you want more information on this, read about the McCarran-Ferguson Act of 1945, a federal law that exempts insurance companies from most federal regulations, including some antitrust laws. So there is your answer. Why aren’t there laws that make insurance companies pay at the time of service? Because they have all the power, and their power is actually enabled and protected by the US government. They get to make all the rules!
You Need Seamless Integration
The Chiropractic Software that Provides Seamless Integration When you’re searching for the perfect chiropractic billing software for your practice, one of the most important aspects to consider is integration. After all, you have enough to do between managing your practice and treating patients — you don’t need to have to worry about how to make all aspects of your scheduling, documentation, billing and more fit together. That’s why we here at Genesis Chiropractic Software believe in delivering seamless integration for your practice. With Genesis, you get a complete practice management solution for the chiropractic profession through an integrated web-based office solution that includes chiropractic billing services, scheduling, documentation and EHR functionality. Genesis’ scheduling module offers automated patient appointment reminders through text, email and phone and you’re even able to set reminders for upcoming appointments and missed appointments. No matter the size of your practice, Genesis delivers with included support for multi-practices, multi-providers, task management, specific appointment types and a variety of scheduling reports. And, to make your life easier, documentation is seamlessly integrated into our Genesis software. In just 15 seconds, you’re able to complete your SOAP notes and share them with other providers instantly. Genesis even gives you end-user customization so that you can ensure you get exactly what you need to run your office your way. “I absolutely love the ease and functionality of Genesis Chiropractic Software! ~ Dr. Tabor Smith Genesis also offers chiropractic billing services, giving you access to all your financial data from just one login so that you don’t have to go to the time and expense of hiring and managing in-house billing personnel. In fact, here’s what just one of our satisfied doctors have to say about Genesis: Dr. Tabor Smith from Pure Life Family Wellness says, “I absolutely love the ease and functionality of Genesis Chiropractic Software! There are many different reasons why we love the software, but one of the most unique and convenient features for me is how well it works with our corrective care/posture based practice. I not only practice posture/corrective based chiropractic but I also teach chiropractors on how to properly evaluate/screen the spine. I have conducted hundreds of spinal screenings, and trained hundreds of chiropractors to do spinal screenings, and the integration of the posture screen mobile into the Genesis Software is priceless. Literally, at the push of a button, all the info from our screening/posture check goes right into the system. I love it! I would highly recommend this software to all my friends and colleagues in the chiropractic profession. The software is number 1, and the people and service behind it are top notch. Thank you Genesis for helping me help more people!” So, if you’re ready to harness the power of seamless integration to make running your chiropractic practice easier, more efficient and more profitable, call us today to schedule your Initial Practice Evaluation appointment, where we will help you determine how the Genesis software program can help you accelerate your practice growth, increase practice profits and reduce costs and risks. Do what Dr. Tabor did. Find out more by scheduling your own appointment right now. Clicking the button in the bottom right will open a calendar to pick a date. Real numbers from your chiropractic practice will be used to show you how Genesis will improve 5 areas of your practice. We call it a Dream Practice Analysis. Find out and then you can make an informed decision about increasing your revenue 62%, increasing your patient retention 26% and increasing your documentation compliance 32%, all in 33% less time as our clients have.
You Need a Cloud-Based Solution
Why You Need a Cloud-Based Solution for Your Chiropractic Practice With a cloud-based system, there is no hardware or software to install. You aren’t responsible for data storage, backup or even security. If you’ve been searching for a new Chiropractic EHR software and practice management software to boost the success of your practice, you know that you have two options – a cloud-based or a client server EHR. And, while each option can help you run your practice more efficiently than the old pen and paper days, a cloud-based system offers advantages that just can’t be ignored. Let’s take a look. Cloud-based or web-based software is often referred to as “software as a service” (or SaaS). That’s because with this type of system, your software is hosted in the ‘cloud’, so you have no need to install, update or maintain the software. You simply access it via the internet from any internet connected computer or device. This is a big advantage over a client-server system where you are in charge of maintaining everything on local servers in your own data center. With a cloud-based system, there is no hardware or software to install. You aren’t responsible for data storage, backup or even security. All of those things are handled by your software provider – so that there are no more headaches to deal with as with server-based software. For a monthly fee, you are able to do everything you need to run your office optimally like scheduling, billing, handling claims and accessing patient data. With a cloud-based EHR, you can access the data from any location with Internet access, 24/7/365 – whether you’re at the office, at home or even on vacation. This means data sharing and collaboration amongst your team will be much easier. In terms of personnel, you won’t need to allocate a full-time IT person for server maintenance. You may be wondering about security when it comes to a cloud-based system. However, web-based EHR systems achieve HIPAA compliance through data centers with bank-level security and high-level encryption methods that render data unreadable — even if a security breach occurs. Running a client-server setup means you always face the risk that your data will be stolen or even destroyed since client-server systems are often left unencrypted and only as secure as the room where they are stored. On the other hand, a cloud-based EHR’s data will be impossible to destroy, since there will always be multiple, redundant backups safely kept in distant locations. When it comes to running your chiropractic practice efficiently and securely, a cloud-based system is the clear winner. With Genesis chiropractic software, not only do you get all of the benefits of a web-based solution, you get a complete practice management solution for the chiropractic profession that includes chiropractic billing services, scheduling, documentation, and EHR functionality. Contact our team today to find out how Genesis Chiropractic Software can accelerate your practice growth and your income. Find out more by scheduling your own appointment right now. Clicking the button in the bottom right will open a calendar to pick a date. Real numbers from your chiropractic practice will be used to show you how Genesis will improve 5 areas of your practice. We call it a Dream Practice Analysis. Find out and then you can make an informed decision about increasing your revenue 62%, increasing your patient retention 26% and increasing your documentation compliance 32%, all in 33% less time as our clients have.
Get Staff Buy-in to Chiropractic Software
Getting Your Staff to Buy-In: How the Team at Genesis Goes the Extra Mile When you are searching for a chiropractic software solution to your chiropractic office needs, you know you need a certain level of buy-in from everyone in your practice. Without buy-in, your office will never reach the levels of success you know are possible, leaving you and your team frustrated. The question becomes, “How can I get others to commit to learning a new process, to engage? And who can help me get my team up to speed as fast as possible?” “How can I get others to commit to learning a new process, to engage? And who can help me get my team up to speed as fast as possible?” While other chiropractic software solutions are available, Genesis offers a level of support and assistance unmatched in the industry. Everyone on the sales and support teams are there to help you get the most from your deployment. Rather than me tell you this, why not let our clients share their insights into this critical part of the process – getting the level of assistance, guidance, and help your team needs to succeed and buy in to your new program. Here are a few comments from actual clients below, and they related their experiences with our team here at Genesis Chiropractic Software. Dr. Mike Hall from Midpoint Family Chiropractic in Arlington, Texas says, “When it comes to customer service, you won’t find anyone better. Everyone is always friendly and helpful. If they don’t know the answer, they will find someone that does!” Dr. Joe Labriola from the Chiro Health Spa in Ramsey, New Jersey says, “Our biggest criteria are that the company is judicious about updating their system and customer service. Both get high marks from us.” And finally, consider what Dr. Jon Scott at Advanced Chiro Rehab in Thousand Oaks, CA had to say about our team here at Genesis, “You have support that actually gets back to you. You have a whole team behind you helping you with all aspects of running a practice to dealing with insurance carriers, to keeping patients on track. I have never seen such a comprehensive system. I love that you can customize many features to fit our specific needs. I am also impressed that they have monthly calls, if not more, with practice profitability coaches to help you get the most out of the system and to keep stress levels low.” Getting buy-in is critical to your success as a doctor and as a team leader. When you know you have a committed team from Genesis Chiropractic Software on your side, you feel confident that your in-house team will have all the support and guidance they need to make your office a real success. Let one of our talented sales and support staff show you what’s possible. Connect with us today and find out how Genesis Chiropractic Software can give you and your staff the solution to your EHR needs today. Find out more by scheduling your own appointment right now. Clicking the button in the bottom right will open a calendar to pick a date. Real numbers from your chiropractic practice will be used to show you how Genesis will improve 5 areas of your practice. We call it a Dream Practice Analysis. Find out and then you can make an informed decision about increasing your revenue 62%, increasing your patient retention 26% and increasing your documentation compliance 32%, all in 33% less time as our clients have.
