MPTG may be worth a look, here's a write up from Dynamic Views, it has increased from around 1.50 but it still may be a good play.
Dear Member,
We at Dynamic Views would like to familiarize our members with one of our
current clients. The following write up will be posted on our web site tomorrow
afternoon.
Masterpiece Technology Group
455 Wards Corner Road
Loveland, Ohio 45140
Tel: 513-831-6647
Fax: 513-831-5633
Web Site: mptg.org
Products & Services
The Company provides comprehensive software and technical
support for medical office management, physician financial and clinical outcome
analysis and medical practice guidelines. The Company is currently a viable
competitor in electronic medical record and practice management systems.
Primary business revenues are derived from the sale and technical support of its
electronic medical record-keeping software and billing services. The software is
designed to allow access by the provider to clinical records and practice
guidelines from a variety of
platforms, including Web Access, local and wide area network, client/server,
Windows NT, internet, and other forms of telemedicine. The Company, as a
segment of its product distribution, will implement its software in connection with
the new claims procedures from the Department of Labor that will have a major
impact with health maintenance organizations (HMO's), independent practice
organizations (IPA's),disability insurance companies (DIC's) and third party
administrators
(TPA's). The reasons for this impact are threefold. First, the Plan Administrator will
be responsible for compliance by these entities with the Regulations. Second, the
underlying common factor driving the
detailed new requirements are the maintenance of clear and accessible medical
records. Third, the consequences of a failure to institute a "reasonable" claims
procedure will be increased litigation. Implementation of a large scale, direct
advertising campaign to Insurance Plans, HMO's and large provider
organizations in light of our close
association with the KIMG Group and the new Department of Labor Regulations
(see attached) seems likely to produce significant additional contracts for the
Company.
The Company also offers a suite of products and services designed to assist the
diverse needs of any company. The company is organized by function into four
additional groups: the Custom Software Development
Group which offers a host of integrated networking services including LAN
Consulting and Implementation Services, Cable Plant Design and Cable Plant
Documentation, DocPrep Studio product line, the Professional Services Group,
which offers software consulting and project management skills and Gain
Software which is a records information management system.
The Medical Market Healthcare is undergoing a revolution because of
technological, political and sociological changes. In order for these changes to
result in cost effective, quality healthcare, a fundamental change in the way
healthcare providers and payers manage patient
information is needed throughout the nation and around the world. The change
requires treating patient data in a completely different way than ever before. It is
now necessary to consider the patient's medical record
as data that exists on a network simultaneously populated and accessed from
multiple locations. Information technologies have begun to have profound impact
on a variety of business and social applications. These
technologies are now required to be implemented into the physician community
by both managed care organizations and federal government. HCFA has
specifically required that Medicare claims be documented consistent with new
Evaluation & Management Guidelines which can only be correctly documented
by computerized medical records. Managed Care and Insurance Companies now
demand documentation of clinical results and actual cost of
therapy. In addition, the Department of Labor has greatly increased the potential
for litigation to insurance plans for failure to provide comprehensive medical
records.
Physicians today must organize to effectively meet the needs of a more
consumer-oriented marketplace. Doctors must form well-managed and
well-capitalized groups and focus on the services and management aspects of
their business in order to compete. Buyers will not only shift more of the costs to
individuals, they will continue to push for improvement in the outcomes of health
care delivery while the next generation of managed care is heavily influenced by
a renewed, vigorous, buyer focus on cost containment.
As health plans direct their energies to becoming consumer-marketing
organizations, many will delegate more responsibility to provider organizations
for health care delivery. By rising to the occasion, physicians have both the
opportunity and incentive to exercise more
leadership in pursuit of a better managed care system as financial pressures on
consumers increase.
What physicians must do
ú Consumer demands will be powerful and it will take physicians practicing in
groups and the merging of assets for them to succeed.
ú Physicians in the 21st century will need to focus on being in the service
business. The loyalty of patients cannot be assumed. To retain and enhance the
loyalty of their patients, physicians will need to create the information system and
management infrastructure that will help managed the business effectively.
ú The managers of the business also need to create the financial rewards and
incentives that promote the right behaviors among physician partners.
ú Physicians must anticipate and respond to the consumer movement evident in
the growing use of benchmarks to judge various aspects of health care, from
quality to customer service.
ú Case management, demand management and disease management will be a
way of life. Physicians will have to provide care and treat patients more cost
effectively with better service by reducing variations, implementing best practices,
and by emphasizing and adhering to case and
disease management protocols.
ú Physicians must be aware of changing laws regarding patient rights, and the
malpractice implications of improper treatment that can lead to litigation
beginning with the physician and moving up through the
HMO, Plan and Employer. The new DOL regulations are one new example.
The Document Market
The market for document management products is very broad and highly diverse.
Any business or government agency can use this product.Generally,
organizations do not begin to need record management software until they reach
the size where they employ personnel specifically for the
task of managing active or inactive records. Medium to large sized organizations
are the target market. There is no restriction on the type of industry.
The Need
The paperless office is yet to arrive. In fact, paper-based information systems
typically contain upwards of 90 percent of the collective memory of the typical
enterprise.
Most organizations have many different systems for managing records
information. The problem is that each system acts as its own ?island of
information? that does not talk to other systems. The challenge is to integrate
these resources in an effective manner. Each type of media
presents its own challenges and obstacles to integration.
Paper systems
are wide, diverse and must be inventoried and tracked. Electronic records are
often not effectively indexed. Electronic systems often are purchased with little
thought to their records management worthiness and often
contain elements that run counter to good records management practice. Imaging
systems often lack even the most rudimentary records management capabilities.
Every organization has a records management challenge. The larger the
organization, the bigger the problem gets. Organizations have, heretofore,
approached records management on a piecemeal basis purchasing specialty
products for each aspect of the records program.
There is tremendous demand in the enterprise market for a solution which
provides a single point of access on the desktop for every kind of records
information, including paper-based, image-based and electronic-based data.
Market Direction The first of two marketing directions applies to the Independent
Physician Associations in the country. TIPAAA, The IPA Association of America,
has a membership of approximately 820 IPA's with a total physician membership
in excess of 300,000. Masterpiece Technology Group has a 20 year contract. The
selling and marketing expense of medical software systems is quite high,
especially if a one-on-one selling approach is required. The Company therefore
will direct its selling and marketing efforts at groups of physicians instead of
individuals. IPA's and MSO's range in membership size from 50 to 2,000. Most of
these physician organizations have a business unit charged with obtaining
contracts from managed care and insurance plans, as well as purchasing
necessary operating material and equipment from suppliers. The Company plans
to establish these physician organizations as individual distributorships and sell
our product at a discounted rate based upon unit volume. Each business unit
within the IPA will be responsible for
on-selling the Masterpiece product to its own physician membership, as well as
product installation and first line support.
A second important aspect to sales and service of not only physician
organizations but also industry in general comes from our relationship with our
current customer base and our advisory board. IPA's and General Industry are
looking for various insurance products, including
malpractice, life, casualty as well as financial services such as loss protection,
surety bonds, lines of credit and receivable funding. By having the Masterpiece
Technology Group providing these add on services the product mix made
available to these physician and general industry
organizations becomes unequaled in the software industry. The Company?s
Document Automation system, DocPrep Studio, and our ability to offer significant
customization products to strategic partners and customers will afford the
Company direct and immediate access to a very large
customer base and their senior management.
Our second marketing direction is based upon our software being capable of
providing the correct documentation require under the new ERISA-DOL
requirements and the patent the Company has applied for to protect said
software. As will be shown below, for an Employer, a Plan, an HMO or a
Physician to protect themselves from malpractice suits, they must adopt the use of
certain billing and clinical computer systems which have the
ability to accurately document the patient plan of care, the proper billing approach
and the clinical outcomes results now required under Federal Law. Our approach
to this market will be a supportive one to HMO's, Plans and Employers in showing
them that by the proper utilization
of our Maplecrest EMR and our Fiduciary Audit System, they will have the proper
documentation and analysis of clinical approaches used by their participating
providers (physicians) and satisfy the sometimes detailed
and confusing Federal Regulations now coming forth from the Department of
Labor.
By utilizing our relationship with insurance organizations such as AIG, Frenkel,
C.N.A. in Chicago, AON, Zurich and several others, we can obtain access to
senior management to present our product and explain why we are important to
them in this new marketplace. Also of importance is the
additional risk that Employers, Plans and HMO's will be exposed to as a result of
ERISA regulations. They will find it necessary to obtain additional E&O insurance
for protection against new malpractice claims.
With the Maplecrest EMR and Fiduciary Audit in place, their ability to successfully
obtain extra insurance should be greatly enhanced.
Therefore as HMO's, Plans and Employers see the need that their physician
providers have our medical records product in place, they will soon also see the
need to assist in the financial underwriting of the Maplecrest EMR to the physician
office by absorbing a portion or all of the cost of the product. That financial
underwriting will greatly enhance our efforts to place the product in IPA's and
MSO's.
For further information, be sure to visit our wbsite.
Sincerely
Dynamic Views
dynamicviews.com |
