CareTrack's Telecare helps practices increase Medicare reimbursements by $350,000
CareTrack’s Telecare solution is an integrated services model designed to support practices by driving better utilization, quality measures, and practice profits.
- Atlanta, GA (1888PressRelease) March 09, 2021 - CareTrack’s Telecare solution significantly outperformed national averages for Medicare utilization in 2020. Currently, ⅓ of Medicare patients’ hospital readmissions are related to patient non-adherence to care plans, and the average practice utilization for available Medicare codes is less than 10% nationally. CareTrack sees a direct correlation between Medicare patient outcomes and code utilization.
The underutilization of many Medicare reimbursable services is leaving money on the table for practices. As the pandemic continues, physician practices are overtaxed and stretched to the limit. CareTrack's Telecare ensures that physicians, patients, staff, practices, and care teams work from the same playbook and keep patients healthier by adhering to their care plans. This service particularly helps monitor elderly chronic but stable patients 24X7 while increasing providers' incremental revenues through additional Medicare reimbursement.
The 2020 results for CareTrack’s Telecare solution for primary care practices and Medicare-eligible patients:
$349,219 in additional Gross Medicare Reimbursements per physician
3x increase in Annual Wellness Visits. 73% utilization vs 18% nationally
65% enrollment rate for chronic-but-stable patients vs 2.5% nationally
82% utilization of Medicare services codes for enrolled patients vs. 35% nationally
Our practices see an additional Net take-home income of $189,108 per physician annually on average
"The data from 2020 shows us what we’ve believed at CareTrack for many years. Practices are overworked and don’t have enough hours in the day to provide the care needed for every patient and Medicare falls short with reimbursement for the care provided," said Co-Founder & CEO of CareTrack Andrew Mills. "In this unprecedented year, physicians and patients can be thankful for the peace of mind the CareTrack Telecare platform provides 24X7. While practice managers are seeing significant increases in Medicare reimbursement rates without additional cost for CareTrack services."
CareTrack is headquartered in Carrollton, Ga. For more information about CareTrack, please visit www.CareTrack.com.
CareTrack is a fully integrated Telecare physician practice extension. The solution provides continuous out-of-office care coordination, empowering patients to take greater control of their conditions while simultaneously enabling practices to give targeted support to their Medicare patients between appointments. CareTrack's AI-powered solution processes information from the patient's existing EHR and generates a customized care plan which benefits all parties involved by improving clinical outcomes, closing patient adherence gaps, reducing ER visits, and preventing hospitalizations. For more information, please visit www.CareTrack.com or call 800-835-1140.
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