Med-Metrix, LLC, a full-service billing management and analytics company, Hackensack Meridian Health, a leading comprehensive health network in New Jersey, and Jefferson Health’s hospitals in New Jersey announce the formation of Medi-Centrix – a new venture designed to help physicians prepare for value-based care, improve clinical integration and enhance their financial performance.
Medi-Centrix offers a full array of revenue cycle services and the latest analytics to reduce administrative burdens, so physicians can focus on patient care and realize greater financial performance through more efficient practices. This service allows software to connect with any electronic medical record (EMR) and practice management system, improves the exchange of data among health care providers and aids the transition to value-based reimbursement.
Value-based care is a big step away from traditional fee-for-service medicine. The core change is that doctors and hospitals are paid to keep patients healthy, rather than being compensated for each treatment or hospitalization, something that drives up the cost of care, especially for patients with chronic diseases, such as diabetes.
Dedicated to continuous improvement throughout the health care continuum, leadership from Med-Metrix, Hackensack Meridian Health and Jefferson Health identified a need for a company to help physicians transition to major reimbursement changes and growing industry trends toward consolidation. Medi-Centrix will usher in a new era of support for physician-owned practices to improve their financial performance, transition to value-based care and enhance clinical integration with health system partners.
“Despite the rapid consolidation among health care providers, the vendor marketplace remains highly fragmented,” said Joseph Davi, CEO and president of Med-Metrix. “Many of the current companies lack the scale, internal controls, and technology platform to adapt to changes in reimbursement and the manner in which the business of health care is conducted,” he said.
“Medi-Centrix has the requisite infrastructure and technological capabilities to serve the needs of organizations from small physician practices to large health systems.”
At the core of Medi-Centrix’s philosophy is a physician-centric approach, executives said.
“The business of practicing medicine is evolving rapidly,” said Carman Ciervo, D.O, Executive Vice President & Chief Physician Executive at Jefferson Health’s New Jersey Division. “Physicians need a commercial grade arsenal of business solutions to succeed. Medi-Centrix is establishing an advisory board of practicing physicians to ensure we remain focused on the most pressing issues physicians encounter.”
Med-Metrix, Hackensack Meridian Health and Jefferson Health Care are contributing their proven operational expertise in improving the patient and physician experience to the new venture, and each invested capital to form Medi-Centrix. More than 100 Hackensack Meridian Health team members joined Medi-Centrix upon its formation. Among several initial customers of Medi-Centrix are Hackensack Meridian Health’s employed physician enterprise and Jefferson Health’s employed physicians in New Jersey.
“Hackensack Meridian Health has decades of experience successfully growing our employed physician enterprise,” said Robert C. Garrett, co-CEO of Hackensack Meridian Health. “Our high-performing team of professionals, combined with the outstanding personnel and technological capabilities of our partners, enables Medi-Centrix to meet the complex needs of both hospital-based and independent community physicians.”
“Medi-Centrix provides relevant solutions that address the increasingly complex business challenges physicians must solve in order to run their practices effectively,” said Andrew Pecora, M.D. chief innovation officer and president of Physician Services at Hackensack Meridian Health. “This venture provides physicians a path to clinical integration while eliminating administrative burdens so they can focus on delivering the best care at the lowest cost – and share in those savings.”