Industry News

AssuranceMD Helps Doctors Get it Right

Greg Cutrona is a CPA by profession, an early adopter of computer technology, and entrepreneur by aspiration. He had been working with physicians, doing their tax returns and financial accounting reports. They began tapping his expertise about broader technology issues, from networking to paperless practices. Need met opportunity and sparked an idea.

Greg would help physicians navigate the complicated and stringent reimbursement process while improving efficiencies in their administrative office. Most medical practices, he says, fail to collect more than 24 percent of potential reimbursements; he now focuses on improving those odds.

Today, AssuranceMD occupies a suite of offices in Chadds Ford. “We currently employ a team of well-qualified people who stand behind me every day to provide excellence in service to our clients,” Greg says. “By leveraging technology and adding virtual resources, we can scale up and do just as good a job for clients right around the corner as for those in Florida and Texas, where we serve a number of physician practices.”

While the company he founded is decidedly high tech, Greg describes his primary benefit to clients – single physician practices, small medical practices, and multispecialty group practices – as being peace of mind.

“The Affordable Care Act is infusing more people into the health care market, which adds great demand for physicians to see more patients and creates great need by physicians for our services,” Greg says. “The managed services we provide allow physicians to concentrate on what they do best – taking care of patients –while we handle the business end of running the office.”

AssuranceMD, like technology itself, has evolved over the years. Instead of installing client-server networks in medical offices, the company now uses cloud computing to deliver software and other services via the Internet. Beyond the benefits of faster deployment and better support in a virtual computing environment, capital expenditures and the headaches of managing equipment onsite are eliminated.

AssuranceMD uses certified and industry-leading software products for its integrated suite of services in combination with highly skilled collectors and billers. This coordinated approach provides physicians with a single solution and single point of contact, simplifying administration while improving efficiency and profitability in their practice.

Greg is gratified by his company’s growth over the past years. “Our success is all about providing excellent service to the clients we have today; and we intend to grow this business in a controlled sense to maintain a high level of quality.”

Greg judges the success of the business by the growth of individuals employed there. Recently, the company initiated a Mind, Body, and Soul program. This led some employees to enroll in continuing education. Others joined exercise classes and everybody takes some part in community service days as a way of giving back. Teams of employees volunteer at such local charities as Ministry of Caring in Wilmington, Habitat for Humanity, Young Life, and Good Works in Coatesville.

“I love building people up, being a change agent and helping them realize something in themselves they never thought possible,” Greg states. “If you lead with people, profits will follow. By investing in individuals, my business will continue to thrive, and I believe in my heart of hearts I’ll be successful on many fronts.”

Courtesy: Franklin Mint Federal Credit Union – Business Profile