I wrote this speech for the CEO of GeBBS Healthcare Solutions.
Good morning. My name is Nitkin Thakor, CEO of GeBBS Healthcare Solutions. I want to thank the HBMA for the opportunity to address you this morning. GeBBS has been an HBMA corporate sponsor for ten years now, and we have developed a close relationship and a genuine fondness for this organization and all it does for us in this industry. We have met many of our customers through HBMA, and have developed many personal and professional friendships as a result. So it is a great pleasure to be here to greet you.
As I was on my way over here this morning I was trying to think of a topical joke to open with, so...Did you hear the one about the large medical practice that was fully certified for ICD-10?
No? Neither have I.
But seriously, as all of us in this room are well-aware, our industry is changing dramatically. At GeBBS, we have a passion for this business, but even we recognize that, now, the margin for error is greatly diminished.
We all know that the practice of healthcare is both an art and a science. But it’s important to understand that the business of healthcare is no different. To be “skilled in the art” of healthcare business operations is itself a science that requires precision, sophistication, and persistence.
Today, though, it’s more difficult than ever. Healthcare is among the largest and most demanding industries in the US, and service providers are beset with a staggering and ever-increasing complexity of business operations. The medical arts are advancing, the economic landscape is unstable, and the regulatory environment is in constant flux. It’s no longer enough to be a skilled medical professional–you have to be a visionary businessman as well.
Consider that medical coding will soon become an order of magnitude more complex with the switch to ICD-10 codes. The Affordable Care Act, Meaningful Use, and a host of other federally-mandated compliance issues are already straining your operational resources. Denials are up. Reimbursement delays are growing. For most of you, costs are increasing faster than revenues, and your profit margins are suffering. There is very little margin for error, and few, if any of us can do everything alone. Not any longer.
Now is precisely the time to engage a sophisticated partner who can shoulder the risk and deliver the process refinements that will reinvigorate your business. Now is the time for forward thinking.
At GeBBS, we pride ourselves on helping our clients to maximize their profitability. We are a leading provider of outsourced Revenue Cycle Management solutions to the healthcare industry. We cut through healthcare complexity with expertise, operational excellence, and a sophisticated approach to Health Information Management Services This allows our clients to minimize their risk, manage their growth, and improve their bottom line.
GeBBS can help you identify latent problems, repair process inefficiencies, and reinforce your best practices. We’ll help your business to thrive in an evolving healthcare marketplace. We offer unparalleled industry expertise, highly-trained, skilled employees, and renowned attention to detail. And in this business, the devil is always in the details. Our proven track record and innovative end-to-end Business Process Outsourcing solutions have impacted medical service providers across the U.S. precisely because we focus on the details.
The way we approach the business of healthcare is not so different from medicine itself. Make no assumptions. Leave nothing to chance. Document every action, no matter how insignificant. This is the passion that drives our expertise. This is the precision that improves the financial health of your business. At GeBBS, it’s all about precision.
As one of the fastest-growing healthcare BPO outsourcing providers, GeBBS today is 3,000 employees strong and growing rapidly. Every one of them is a highly-skilled industry professional who is passionate about getting the job done right, with a laser-focus on process, precision, and the details of your business operations. In fact, 10% of our professionals hold post-graduate degrees. This means we can offer a level of operational excellence that is unmatched in the industry.
You want a parter who is committed to your success, and our success speaks for itself. GeBBS has been growing at nearly 50% annually, and our RCM work now touches nearly 2% of all physicians in the US. We process over 5 million coding transactions, manage over $5 billion of A/R, and post over 30 million line items every month.
We offer a range of services across Medical Billing, Patient Access Management, HIM and Technology. I look forward to talking with many of you later to see if there is an opportunity for us to help your business.
Thank you for your attention.