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Industry and Product Introduction


        Monday - January 30th, 2011
                10:00 am
Webinar - Purpose
- Industry introduction
    • File Formats
    • Legal
         – Court Systems
         – Paper Way vs. Technology Way
    • Medical
         –   HITECH Act/ ARRA
         –   Paper Way vs. Technology Way
         –   Disadvantages of In-house scanning
         –   Competition
– Product Introduction
    • Why ScanVENTURE
         –   Navigational PDF’s
         –   Case Manager/ Chart Manager
         –   OCR Search
         –   Need Integration?
         –   Demo
         –   In Conclusion
– Questions & Answers
Industry Introduction – File Formats

                • Scanning Formats
                   – JPEG
                   – TIFF
                   – PDF
                   – PDF Bookmarks
                   – Metadata
                • OCR
                • Index
Legal – Court Systems

• Federal Court Systems
  – 2001 mandatory Electronic Case Filing (ECF) be in a PDF
     Electronic filing or e-filing is a method of filing court documents that uses an
     electronic format rather than a traditional paper format. Parties convert their
     documents into the file format designated by the court and file their documents via
     email or over the Internet. By reducing courier and copying fees, use of paper, and
     staff time, E-Filing can be a tremendous cost savings


  – Most court systems require all PDF’s to be searchable


• State Court Systems
  – Next to require ECF be in a PDF
Legal – Paper Way




    Disadvantages                                       True Costs
                                                        Coopers & Lybrand shows...
    •   Very inefficient
    •   Lost files and documents                        90% of all documents are merely shuffled

    •   Very labor intensive searching,                 A document is copied an average of 19 times
                                                        It costs about...
        copying, and storing documents
                                                               • $20 to file a document
    •   Long term-expensive storage                            • $120 to find a misfiled document
        requirements for 7 soon to be                          • $220 to replace a lost document
                                                        7.5% of all documents get lost
        10 years                                        3% get misfiled

For $50 you can store the equivalent of 100 4-drawer file cabinets on a single 50GB drive compared to the
                             cost of the cabinets estimated at $9,600 a year
Legal - Technology Way




Advantages                            Disadvantages
•   Server or centrally stored        •   Very Expensive
    database                          •   Difficult to learn and use- lots of
•   Helps your office go paperless        training – templates
•   Meets Fed/ State ECF              •   Still labor intensive –scan and
•   OCR and file indexing offered         index
•   Diminished long term filing and   •   Need ongoing IT support
    storage costs                     •   Data Conversion Fees
Medical – HITECH Act/ ARRA
           American Recovery and Reinvestment Act (ARRA)
           of 2009 and Health Information Technology for
           Economic and Clinical Health Act (HITECH Act)

           •   This act was signed into law by President
               Obama on February 17, 2009 and
               encompasses the Health Information
               Technology for Economic and Clinical Health
               Act (HITECH Act).

           The HITECH Act objective is to provide
           reimbursement incentives for eligible
           professionals and hospitals who can:

           •   demonstrate the meaningful use of electronic
               health records (EHR)
           •   to establish standards, implementation
               specifications, and certification criteria for
               EHRs
           •   protecting privacy and security of health
               information
Medical – Paper Way




Disadvantages                         True Costs
                                      AZ COMP
•   Very inefficient                  - What is it costing annually for an average practice
•   Lost medical records                to manage paper charts?
                                        - $12,000 Transcriptions
•   Very labor intensive searching,     - $ 2,400 Paper Chart Supplies
    copying, and filing records         - $41,600 Labor to Manage Pulling & Refiling Charts
                                        - $ 2,500 Labor to Find Misplaced Charts
•   Long term-expensive storage         - $36,000 For Inbound Faxes
    requirements for 10 years to 21     - $21,875 For Outbound Faxes
    years                               - $25,000 Money Lost in Down-Coding
•   HIPAA issues                        $141,375 Per Year to Manage Paper Charts
Medical - Technology Way




Advantages                            Disadvantages
•   Server or centrally stored        •   Expensive – laborious
    database                          •   Not a DMS system – clinical based
•   Helps your office go paperless-   •   Still labor intensive – poor solution
    efficient clinical tool               for scanning in old medical records
•   Meets HIPAA                       •   Continue to store paper
•   Get’s you your $$$$               •   Major violations for data breach –
•   Diminished long printing costs        CMS fines
Industry Introduction – In-house

        Why
             Spend thousands for scanning technology
              and additional staff that will take months,
              even years to convert paper charts and case
              files
        When
             ScanVENTURE can easily process hundreds
              of medical charts and case files an hour
              with our state-the-art scanning and OCR
              technology
        Avoid
             Lost TIME, Wasted MONEY and Needless
              HEADACHES
Product Introduction - Competition

• Major Players ($200 million - $8 billion)
   –   ACS
   –   Iron Mountain
   –   GRM
   –   Cintas
   –   Recall
• Local Players ($2 million - $10 million)
   – Filing Source
   – Data Guard
• Scanning Competition ($2 million <)
   – ScanTronix
   – Laser Fiche
Product Introduction - Competition

• Competition (Iron Mtn. etc.)
   – Majority of document storage companies charge to scan
     per image:
      •   $.10 up >
      •   No segmentation
      •   Few scan onsite
      •   No experience in healthcare / integration
      •   Disruptive business
Product Introduction - ScanVENTURE

         PDF navigator
             • Proprietary technology that differentiate
                the sections of medical records and case
                files
             • Digital documents presented in a form
                that they will actually use and have been
                using for years
             • PDF can be seamlessly integrated with
                existing third party DMS system or EMR


         Chart and Case Manager Application
             •    A search tool to find and manage your
                  digital scanned medical records and
                  case files
Product Intro - PDF Navigator

ScanVENTURE has created proprietary PDF navigators which eliminates the need of
bookmarking and/or manual indexing – a “digital chart or case view”
Product Intro. - Chart / Case Manager

An application tool provided to help locate scanned medical records or case files on their
client’s server or desktop PC’s. This tool enables the office to easily add or scan sections
and other additional PDF documents to their digitally converted medical record or case
files.
Product Intro. - OCR Search

ScanMD runs optical character recognition (OCR) on all scanned charts and case files
to make them text/ numeric searchable for future abstraction or data mining .
Product Intro. - Need Integration?
Product Intro. - In Conclusion
                Waste           Revenue



Medical




          Organized      Disorganized



                                          Legal
Thank you for your time

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ScanVenture introduction

  • 1. Industry and Product Introduction Monday - January 30th, 2011 10:00 am
  • 2. Webinar - Purpose - Industry introduction • File Formats • Legal – Court Systems – Paper Way vs. Technology Way • Medical – HITECH Act/ ARRA – Paper Way vs. Technology Way – Disadvantages of In-house scanning – Competition – Product Introduction • Why ScanVENTURE – Navigational PDF’s – Case Manager/ Chart Manager – OCR Search – Need Integration? – Demo – In Conclusion – Questions & Answers
  • 3. Industry Introduction – File Formats • Scanning Formats – JPEG – TIFF – PDF – PDF Bookmarks – Metadata • OCR • Index
  • 4. Legal – Court Systems • Federal Court Systems – 2001 mandatory Electronic Case Filing (ECF) be in a PDF Electronic filing or e-filing is a method of filing court documents that uses an electronic format rather than a traditional paper format. Parties convert their documents into the file format designated by the court and file their documents via email or over the Internet. By reducing courier and copying fees, use of paper, and staff time, E-Filing can be a tremendous cost savings – Most court systems require all PDF’s to be searchable • State Court Systems – Next to require ECF be in a PDF
  • 5. Legal – Paper Way Disadvantages True Costs Coopers & Lybrand shows... • Very inefficient • Lost files and documents 90% of all documents are merely shuffled • Very labor intensive searching, A document is copied an average of 19 times It costs about... copying, and storing documents • $20 to file a document • Long term-expensive storage • $120 to find a misfiled document requirements for 7 soon to be • $220 to replace a lost document 7.5% of all documents get lost 10 years 3% get misfiled For $50 you can store the equivalent of 100 4-drawer file cabinets on a single 50GB drive compared to the cost of the cabinets estimated at $9,600 a year
  • 6. Legal - Technology Way Advantages Disadvantages • Server or centrally stored • Very Expensive database • Difficult to learn and use- lots of • Helps your office go paperless training – templates • Meets Fed/ State ECF • Still labor intensive –scan and • OCR and file indexing offered index • Diminished long term filing and • Need ongoing IT support storage costs • Data Conversion Fees
  • 7. Medical – HITECH Act/ ARRA American Recovery and Reinvestment Act (ARRA) of 2009 and Health Information Technology for Economic and Clinical Health Act (HITECH Act) • This act was signed into law by President Obama on February 17, 2009 and encompasses the Health Information Technology for Economic and Clinical Health Act (HITECH Act). The HITECH Act objective is to provide reimbursement incentives for eligible professionals and hospitals who can: • demonstrate the meaningful use of electronic health records (EHR) • to establish standards, implementation specifications, and certification criteria for EHRs • protecting privacy and security of health information
  • 8. Medical – Paper Way Disadvantages True Costs AZ COMP • Very inefficient - What is it costing annually for an average practice • Lost medical records to manage paper charts? - $12,000 Transcriptions • Very labor intensive searching, - $ 2,400 Paper Chart Supplies copying, and filing records - $41,600 Labor to Manage Pulling & Refiling Charts - $ 2,500 Labor to Find Misplaced Charts • Long term-expensive storage - $36,000 For Inbound Faxes requirements for 10 years to 21 - $21,875 For Outbound Faxes years - $25,000 Money Lost in Down-Coding • HIPAA issues $141,375 Per Year to Manage Paper Charts
  • 9. Medical - Technology Way Advantages Disadvantages • Server or centrally stored • Expensive – laborious database • Not a DMS system – clinical based • Helps your office go paperless- • Still labor intensive – poor solution efficient clinical tool for scanning in old medical records • Meets HIPAA • Continue to store paper • Get’s you your $$$$ • Major violations for data breach – • Diminished long printing costs CMS fines
  • 10. Industry Introduction – In-house Why  Spend thousands for scanning technology and additional staff that will take months, even years to convert paper charts and case files When  ScanVENTURE can easily process hundreds of medical charts and case files an hour with our state-the-art scanning and OCR technology Avoid  Lost TIME, Wasted MONEY and Needless HEADACHES
  • 11. Product Introduction - Competition • Major Players ($200 million - $8 billion) – ACS – Iron Mountain – GRM – Cintas – Recall • Local Players ($2 million - $10 million) – Filing Source – Data Guard • Scanning Competition ($2 million <) – ScanTronix – Laser Fiche
  • 12. Product Introduction - Competition • Competition (Iron Mtn. etc.) – Majority of document storage companies charge to scan per image: • $.10 up > • No segmentation • Few scan onsite • No experience in healthcare / integration • Disruptive business
  • 13. Product Introduction - ScanVENTURE PDF navigator • Proprietary technology that differentiate the sections of medical records and case files • Digital documents presented in a form that they will actually use and have been using for years • PDF can be seamlessly integrated with existing third party DMS system or EMR Chart and Case Manager Application • A search tool to find and manage your digital scanned medical records and case files
  • 14. Product Intro - PDF Navigator ScanVENTURE has created proprietary PDF navigators which eliminates the need of bookmarking and/or manual indexing – a “digital chart or case view”
  • 15. Product Intro. - Chart / Case Manager An application tool provided to help locate scanned medical records or case files on their client’s server or desktop PC’s. This tool enables the office to easily add or scan sections and other additional PDF documents to their digitally converted medical record or case files.
  • 16. Product Intro. - OCR Search ScanMD runs optical character recognition (OCR) on all scanned charts and case files to make them text/ numeric searchable for future abstraction or data mining .
  • 17. Product Intro. - Need Integration?
  • 18. Product Intro. - In Conclusion Waste Revenue Medical Organized Disorganized Legal
  • 19. Thank you for your time