November 01, 2006
RVU Assistant has been designed by a health care professional to streamline the job costing process and to assist medical practices to ensure accurate data regarding their practice operating costs, to determine maximum reimbursement and negotiate acceptable insurance contracts.
Set-up is simple with four easy to use steps - Practice Data, Case Mix Index Data, Conversion Factor Calculation and Fee Schedule.
In Practice Data you are required to enter in basic practice information such as practice name, zip code, year, support staff costs, general operating costs, physicians compensation and annual practice collections. The last four costings should reflect the total income and expense for your practice for a calendar year.
The Case Mix Index Data (CMI) is the average RVU per procedure that your practice performs over a set time period. The software has taken most of the work out of this process by automatically entering the description and non-facility total RVU for the CPT codes that you enter. The information that you need is the CPT Code for each procedure performed and the number of times the procedure was performed in the time frame you are analyzing.
The Conversion Factor calculations are now calculated after the information has been entered and RVU Assistant calculates the breakeven point per RVU.
The Fee Schedule screen takes the codes that you entered on the CMI screen and shows the non-facility RVU and the breakeven point per code. It is now that you can enter two conversion factors to compare profitability. Once entered, simply click the update button and print out 6 different types of reports that can be generated such as Fee Schedule, Breakeven Point per procedure, Medicare Fee Schedule, Analysis of Current Fee Schedules Profitability, Comparison of Insurance Contracts Profitability and Proposed Contract Profitability.
RVU Assistant proves to be an easy to use software package that assists in streamlining the arduous process of calculating the practice operating costs so that when the time comes for insurance contract negotiations and other business decisions you will have all of the information to make the best decision for your practice.
Go to the website www.rvuassistant.com and you'll find a free demo and also online purchasing options. Pricing is $350 with free shipping and handling. Each CD comes with easy set-up instructions and a user-friendly guide to use the software.