Providing Essential Healthcare Business Services

CHMB

The US health care system has always had its challenges, efficiency and cost effectiveness chief among them. Recent mandates brought on by the Affordable Care Act have left healthcare providers facing an even more daunting regulatory, financial and technologically changing system…

CHMB is a company that helps its customers navigate this complex system by offering end to end revenue management, enterprise wide IT systems, and professional services.

Co-founded in 1995 by CEO Bob Svendsen and President Janet Boos, CHMB has emerged as a leader in its field. Mr. Svendsen has an extensive background in healthcare finance and business development, while Ms. Boos is a former healthcare executive and founder of a practice management consulting firm. Headquartered in San Diego, the company was one of the first of its kind; the first service it offered was billing and collections for office based providers such as internal medicine, cardiology and orthopedics.

CHMB established its reputation as a pioneering and responsive partner for the healthcare industry. As the business challenges in healthcare became more complex, CHMB expanded its offerings to meet the evolving needs of the industry and leverage emerging opportunities. Through both organic growth and acquisition, CHMB now delivers technology and business services to clients across the country and within many healthcare sectors including surgical, primary care and multi-specialty groups.

Mr. Svendsen spoke with Business in Focus about the latest developments at CHMB and how the company plans to address the ever-changing needs of the healthcare industry. He explains why the company’s services are more relevant than ever. “The challenges and complexities in the reimbursement world are just as significant in other practices as they are for physicians who needed assistance and expertise in handling their revenue cycle,” he says.

When CHMB started in the 1990s, technology was just beginning to make an impact on the healthcare industry, and many physician practices were transitioning from paper-based billing systems to software. “Having a technology component with our billing service really made us stand out as a value-added and significant partner for our customers,” says Mr. Svendsen. The company’s current line of products expanded on that innovation.

CHMB’s Revenue Cycle Management Service (RCM) provides financial and administrative solutions for its clients. According to the company, CHMB clients average a nine to twelve percent increase in collections by applying an integrated revenue cycle and also by implementing best practice workflows to increase revenue results. The company serves more than 4,000 physicians nationally in over 350 practices encompassing 40 medical specialties – processing 4.2 million claims that represent over $1 billion in physician charges annually. This level of performance earned CHMB inclusion as a Healthcare Business Management Association Top 20 Revenue Cycle Management Companies.

The services offered by CHMB increase a provider’s revenue and accelerate cash flow by reducing denials and claim resubmissions, improving collections, and causing faster payment collection. “The components of compliance and regulatory processes in the industry have become increasingly complex over the years,” explains Mr. Svendsen. “We like to provide the highest level of service at the lowest prices possible. We deliver on efficiency and cost reduction by providing automation in order to shrink the administrative costs for a physician practice.”

CHMB’s Healthcare IT Services (HIT) encompass an extensive range of services. Its Business Intelligence & Analytics application provides clients with vital performance indicators and the ability to share data between systems and sources. Electronic health records (EHR) and practice management software systems can be hosted at CHMB’s data center, eliminating costly hardware expenditures and ongoing maintenance costs for clients.

The company also offers end-to-end technology optimization services for physician practices, such as software hosting, HIT assessments, compliance audits, application support, discrete data conversions, custom reporting, third-party apps and software, HIT procurement, HIT management, and training.

CHMB’s professional services involve EHR implementation and adoption, increasing utilization of healthcare technology through optimization, and improving provider satisfaction by improving workflows. The company provides leading EHR and practice management software, including systems from Allscripts, eClinicalWorks, NextGen and GE Centricity. CHMB delivers these platforms by configuring to each of its clients’ needs and specifications. They also provide professional implementation teams to help physicians meet their healthcare IT needs. The team assists in every step of the implementation from hardware selection and procurement, network configuration, full deployment and training and ongoing application support for its clients.

The company boasts a 98 percent client satisfaction rating, scoring highest on its expertise, knowledge, speed, and ongoing support and access. CHMB’s valuable services and excellent delivery have led to significant accomplishments for the company. It processed over $1 billion in the past year, a significant milestone in the industry, and CHMB also boasts a customer retention rate of 98 percent and an employee retention rate of 85 percent.

“The healthcare industry is only becoming more complex and critical,” shares Mr. Svendsen. “It’s important that we perform well in HIT and RCM for our client base, because many are looking at their reimbursement amounts, and they’re being paid less today in relation to the services they render. Making mistakes and being inefficient in collection of those rates are not an option. These clients must be effective in order to get more of the money owed to them.”

Since the company’s inception, the health care system’s utilization of technology has skyrocketed. CHMB is in a good position to help providers with the continuing need for technological solutions and it can help control the costs associated with it. “Technology is necessary to succeed in today’s business environment. It’s a lot more complex and more expensive. A private practice could’ve survived on a 90 percent effectiveness rate 10 to 15 years ago, but now they must have a 99 percent effectiveness rate in order to make a profit.”

Mr. Svendsen says that the company’s workforce is essential to its success. Operating in over fifteen states, CHMB offers comprehensive training due to the specialized skills required of its employees. CHMB also offers telecommuting opportunities to many employees. Still, there are often worker shortages, and the company has increased its recruiting efforts. “Our plan is to cast a wider net and recruit more around the nation to train highly-qualified staff and be more successful in retaining them by our use of technology, work-from-home opportunities, and our culture of service.”

Other challenges CHMB faces include the implementation of code sets for the ICD-10 initiative. Starting in October of 2014, the number of ambulatory medical diagnoses will increase to about 69,000 ICD-10 codes. Since medical practices must recognize these diagnosis codes, CHMB is committed to upgrading its software to ensure customers are ready for this administrative change. The company is creating new workflows and training materials for its clients in order to comply with the new mandate.

The company’s track record shows it is more than prepared to meet the challenge. Recent accomplishments include the completion of a major transition of implementing Electronic Health records, providing implementation and support services at Howard University in Washington, DC. Another project involved improving the technology at a hospital-owned physician practice in Portland, Maine to help them manage their revenue cycle.

“We’re stable and growing,” says Mr. Svendsen. “We are having a 15 percent hiring increase. We’re hiring and recruiting more and we’re expanding to be able to provide our services in all four time zones in the Lower 48 States from 4amto 6pm Pacific Time to effectively serve our clients.”

Mr. Svendsen said that a commitment to service and having optimal relationships with its clients is what has helped CHMB stay successful. “We are service-oriented, and we have a shared success model with our customers; when they perform well, we’re rewarded for that.” CHMB measures its success by monthly performance metrics, workflow procedures, and a checks and balances system that ensure employees are all working together to provide optimal service.

With almost two decades in the healthcare industry, CHMB is a proven ally in the complex world of healthcare billing, regulations, and services. Mr. Svendsen says that the company’s adaptation of technology helped them lead in the past, succeed in the present and prepare for the future.

“We know and recognize healthcare is facing significant changes with the new initiatives on the line [The Affordable Healthcare Act, ICD-10 Implementation, etc]. The cost for physician practices to comply with these initiatives is on the rise, so to the extent that our customers can use our services, we are happy to contribute and allow them to focus on patient care,” shares Mr. Svendsen.

“If we’re going to be successful in healthcare delivery and recognize the importance of expanded coverage, we must recognize that more patients will be covered seeking healthcare that wasn’t previously available to them. Our clients will be more stressed with the increasing numbers, so the more we can provide seamless end-to-end support services, they will be able to accommodate and deliver the care their patients need without their care being compromised.”

For more information about CHMB, please visit http://www.chmbinc.com

August 16, 2017, 7:34 PM EDT

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