Tag: managing health hospital staff

Health IT Startup: Opargo

Paul Wiley, co-founder and CEO

High-demand healthcare providers have no good system in place to drive differentiating value at the time of patient scheduling. With an increase in demand and reduction of time, doctors need to be smarter about how they run their business. Some doctors need to prioritize based on completing a specific surgery. Others need to prioritize based on the greatest opportunity for high reimbursement. But through it all doctors need to maintain a full schedule and optimized revenue while keeping their patients happy and loyal.

Opargo focuses on delivering incremental value to healthcare providers through schedule optimization. Opargo’s patent pending solution takes into account healthcare insurance payment rates, office and procedure activities, historical practice demand and availability to calculate incremental value. This perishable inventory model is similar to how scheduling and payment has been managed for many years in the travel industry to optimize yield for airlines and hoteliers. The Opargo SaaS system seamlessly integrates with a practice’s existing calendar and revenue management systems to make it easy to install and manage.

Elevator pitch

Dr. Aaron Lloyd, co-Founder, president and chief medical officer

Opargo delivers incremental revenue to healthcare providers through schedule optimization. Opargo helps healthcare providers optimize the value of time.

Product/service description

Healthcare providers have previously used a “first come first serve” or “look and book” calendar approaches to schedule patients. This is also how airlines booked passengers in the past. However, as airlines started to incorporate revenue management principles at the time of booking, they saw significant increases in revenue and long-term corporate value.

Opargo is a patent-pending solution that integrates reimbursement rates, reimbursement timing, referral sources, visit types, historical demand and more to determine the value of each visit for healthcare providers. High-value visits are given prioritization to ensure patients don’t look for other providers, as wait times greater than two weeks cause patients to “shop around.” By ensuring high value patients don’t leave, healthcare providers have seen up to a 20 percent increase in annual revenue.

However, there are benefits to the patients of healthcare providers using Opargo, too. First, all patients are seen and no one is denied medical care due to type of insurance. Opargo ensures all patients are seen at the right time. Second, Opargo leverages its proprietary algorithm to ensure patients are seen by the most qualified provider. This helps patients get the most optimal care from the optimal provider as soon as possible.

Bookings made in Opargo’s cloud-based application are automatically passed into practice management systems to ensure all down-line processes remain in-tact. Currently, Opargo integrates with GE Centricity practice solution, Greenway PrimeSuite and AthenaHealth.

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