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Meet DataArk: The system conversion alternative
What is The DataArk? The DataArk is an innovative data archive and receivables management system that is used to reduce the costs, headaches and timelines in switching to a new patient financial system.
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The DataArk - For Financial and Clinical Data
Avoid the healthcare legacy data problems associated with system conversions: Retire your legacy HIS (Healthcare Information System) and CIS (Clinical Information System) and retain access to the account level financial and clinical detail.
 Implementing new patient financial and clinical systems is a major undertaking requiring thousands of person hours of planning and configuring. The old data must be managed for 7 years and the current receivables collected -- but from what system? Full data conversions into the new H.I.S. and CIS are riddled with risk, often discouraged by software vendors, consultants and hospital staff. Balance forward methodologies are incomplete -- where's the detail? Keeping the old system enabled for minimal A/R management and archiving purposes is cost prohibitive.
The DataArk Solution - Financial Systems
- Start "Clean" with the new system, i.e., no accounts moved to the new system;
- Manage the old receivables from the old system for 4-6 months after going live; After 4 - 6 months the A/R has been reduced to about 5% of its normal level. The A/R (mostly self pay now) will need to be managed for another 18 months, but using the old system is overkill - it's like using a bulldozer to plow a backyard garden.
- After 4-6 months, MediQuant loads all the remaining active and all of the old closed accounts from the retired system into the DataArk;
- Turn off the old system, stop the support payments;
- Manage the remaining receivables from DataArk;
- Archive all old data in the DataArk.
The DataArk Solution - Clinical Systems (Lab, Radiology, Pharmacy
and more)
- Start "Clean" with the new system;
- Browser-based look up and reports for historical clinical data;
- Securely accessible from anywhere, including physician offices;
- Turn off the old system, stop the support payments
System Conversion and Data Retention Options Summary Matrix
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Options
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Cash Flow Risk?
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Incompatible Data to New HIS?
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Cost?
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Data Retention Compliant?
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Full Billing Follow-Up Capability
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| DataArk & 4-6 month A/R run-out on legacy system |
LOW
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NONE
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$$
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YES
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YES
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| Full Conversion to new system - 10 years of accounts |
High
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Very Possible
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$$$$
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Yes
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Yes
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| Partial Conversion to new system - Active Accounts Only |
High
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Very Possible
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$$$$
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No
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Yes
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| Balance Forward |
High
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Low Risk
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$$
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No
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No
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| Run out A/R on old system for 24 months |
Low
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None
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$$$$
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No
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"Yes" initially
"No" Eventually
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For a more detailed breakdown of System Conversion and Data Retention Options, view this detailed matrix. (The matrix will open in a separate window.)
Why Healthcare I.S. Departments Like The DataArk:
- We offer a worry-free, complete turn-key solution, with minimal effort expended by the client's I.S. professionals;
- The DataArk is low maintenance: resides on a Windows server.
Why Patient Accounting, Admitting and Medical Records Departments Like The DataArk:
- A/R management doesn't miss a beat on the old A/R, thus reducing, or eliminating, cash flow losses;
- A complete visit-history look-up is available, itemized bills can be produced, notes added, payments/adjustments posted, MRN's merged, self pay statements sent, collections referrals made and more;
- The complete patient accounting data set is stored and viewable for as long as the client wishes to keep the system operational;
- Easy to use and learn (a few hours of training is all that is needed). The same transaction codes, financial classes and credit codes are used in the DataArk as were used in the old system, thus making the DataArk easy to use.
Additional Benefits
- No risk of old data corrupting the new system;
- Significant cost savings over other, incomplete options;
- No need to pay high fees for full data conversions;
- No need to pay support fees for the retired system;
- Old receivables, bad debt is stored and managed from a system that you own.
Email us at: info@mediquant.com
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