Manages Marketing Expenses and Accounting for Stark Law Compliance
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- IDS, a pioneer in healthcare technology and applications in the cloud, has released a significant upgrade with over 15 enhancements to AbbaDox CRM, the company’s healthcare marketing and referring analytics application. The showpiece of the release is an expense tracking module designed to help facilities with Stark Law compliance.
The expense tracking component gives users the ability to record marketing expenses for individual providers or physician groups. It keeps a running tally of how much has been spent and how much is left before reaching the maximum allowed expenditures per provider per year. The expense tracker’s intuitive interface makes it incredibly easy to manage and monitor expenses.
“We’re thrilled to offer this key feature to our clients,” said IDS CEO Yaniv Dagan. “Helping providers stay compliant and avoid unnecessary fines and other stiff penalties associated with violating federal laws, even without intention, is just another example of how we constantly strive to improve our clients’ operations through technology.”
The expense tracker is extremely helpful for recording expenditures associated with marketing efforts to build a referral-based business, such as diagnostic imaging. According to the law, marketers can spend $373 per physician in 2012. “It’s rather difficult to document and manage the figures in your head when you’re dealing with hundreds or thousands of referrals,” remarked Dagan. “Before this latest release, AbbaDox CRM was a great tool for increasing the volume of referrals, but now with the expense tracker module, it’s invaluable.”
The application helps healthcare facilities and diagnostic imaging centers demonstrate compliance with the Stark Law, a federal rule aimed at limiting the types of business relationships into which physicians may enter. The expense tracker serves as a vault for documenting non-monetary compensation allowed as an exception to the law. Adherence to the law is mandatory, and penalties can range from $15,000 to $100,000 for each violation. Violators can be excluded from participating in Medicaid and Medicare.
Along with the expense tracker, AbbaDox CRM enhancements include four new referral reports, expanded search capabilities and additional user options on the mobile version of AbbaDox CRM. The update is free to all subscribers.
IDS will showcase AbbaDox CRM at the RBMA Fall Conference (Booth 113) in Chandler, Arizona, October 7-9.
IDS is a healthcare technology company providing cloud-based EHR and health information technology tools for automating workflows, charge capture, forms management, speech recognition, mobile dictation, transcription and referral management. IDS products securely integrate with other information systems, allowing clients to maximize existing investments and increase productivity with minimal capital investment. For more information, visit: www.idssite.com.
Glenn Weintraub, 954-484-0969, ext. 7141