Medrok Executive Summary[1]


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Medrok Executive Summary[1]

  1. 1. Executive Summary Medrok is a web-based software development company that creates proprietary organizational and communication systems for hospitals, insurers, discharge facilities, home health, durable medical equipment and ambulance companies. These software systems, called Medrok Medical Information (MIS) dramatically reduce patient care costs while improving the quality of healthcare services while minimizing manual input. Today, communication between physicians, nurses, discharge, ancillary services and insurers is slow, paper/fax/phone intensive, anecdotal and inaccurate. Medrok web-based software will connect nurses, physicians, hospitals, clinics, pharmacies and insurance companies (as well as Medicare and MediCal) on the same system in “real-time” far exceeding governmental regulatory time-frames. Medrok’s system will improve patient care and dramatically reduce costs through the embrace of technology not widely used or as extensively comprehensive in the medical field. The healthcare market in the US is $1.98 trillion annually, growing at 7% per year. This represents $5,600 per capita per year. There is ongoing and increasingly intensive need to reduce costs. Medrok’s system will offer significant cost savings by tracking the daily clinical condition of the patient and coordinate this evaluated, prioritized information with doctors and nurses. This information will also be available to medical insurance companies improving the claims process. As a result, the Medrok system will improve communication and provide: 1. More appropriate, efficiently delivered care for patients decreasing costly length of hospital stays related to errors, omissions and increasing nosocomial infection rates, 2. Cost effective processes for insurance companies, Medicare/MediCal with fraud tracking, auto-authorizations and more efficient communication between hospital MD and insurance MD. Auto-fill Medicare and MediCal forms with auto- submission, 3. Track and evaluate disease courses, identify issues and provide solutions, 4. Dramatically decrease case management, discharge planning, admissions dept and insurance intake center costs, 5. Typical savings of $20 per patient day or savings of more than 2.8 million per year for a large hospital or insurer. The Medrok systems will be developed and phased in over a five year period. Medrok systems will be proprietary and protected by patent and intellectual property laws. The Founder and President of Medrok is Rachel Phillips. Rachel holds a Bachelor’s of Science in Nursing and has over twenty-five years of experience in the medical industry as a Registered Nurse in Medical Management, Intensive Care, Pharmaceutical CRO Marketing, Director of Nursing familiar with many hospitals in the Los Angeles and outlying areas. In 2002, Ms. Phillips founded her first company, Priority Healthcare Case Management Services, Inc. an independent medical case management company that worked with hospitals, insurers and discharge facilities to improve patient discharge
  2. 2. efficiency greatly reducing costs. This experience along with identifying repetitious, costly hospital and insurer practices with a lack of timely communication systems led Ms. Phillips to founding the Medrok company. Most healthcare systems rely on manual input from hospital and insurance case managers, multiple phone calls and faxes. The Medrok system joins these healthcare providers on one cohesive system as well as intelligently consolidates, evaluates, authorizes and collects valuable disease information. Rachel has close connections in the medical field from hospitals, insurers, physicians, nurses, case managers, discharge planners and home health agencies. She has several physicians who are interested in being on the companies board as well as directors of discharge facilities and home pharmacies. Several ambulance and durable medical equipment companies have expressed an interest on being included when the system is automated. A “manual” pilot of this system was performed in 2006 with Wellpoint Blue Cross and Century City Hospital. This was especially remarkable due to the fact that hospitals and insurers historically remain distant without cooperative efforts towards mutually beneficial goals. JCAHO reviewed Century City when our manual forms were placed daily on each patient’s chart and recommended the use of such communication measures in order to improve quality patient care. Rachel is dedicated to automating this comprehensive medical management system, encouraging mutual efforts from hospitals, physicians and insurers while drastically reducing healthcare wastes. Especially in this political environment, this system will be invaluable in any type of healthcare forum.