MSN Healthcare Solutions has been a leader in medical billing excellence for nearly 30 years, with consistent growth in the face of industry volatility. Today we talk with Bo Trotter, founder and President of that organization, to learn more about MSN’s success and plans for the future.
Q: MSN has experienced accelerated growth over the past few years. To what do you attribute that success?
A: Much of our growth is due to referrals from existing clients. We have worked hard to maintain our core values and consistently produce results even as MSN grew larger. From the beginning, we have been fully committed to the idea that if our clients are successful, MSN will be successful. And we hire people with values that support this philosophy. Healthcare billing has changed a lot over the years and it’s easy to be distracted by the temptation to grow for the sake of growing. Every time we look at new technology or service offering, we run those ideas through a rigorous screening to make sure changes will result in improved performance and not just to follow what everyone else is doing. It’s all about results and consistency for our clients.
Q: Could you give us one example of how you expanded your service lines?
A: When Medicare first announced its intent to shift from fee-for-service payments to a quality-based form of reimbursement, the resulting PQRS/PQRI programs were voluntary. We participated at this early phase because we felt it would be important to not only learn the “how” of quality programs but prepare to assume a leadership position. We invested in the development of a Qualified Clinical Data Registry (QCDR) and went a step further to build specialized consulting services and physician-led measures development groups. That has enabled our QCDR to continue adding new measures as national measures topped out and were eliminated, since the limited number of national measures made it more difficult for practices to succeed in the program. It was a huge commitment for MSN but has helped our clients qualify for positive payment adjustments and avoid penalties.
Q: What do you view as the role for Artificial Intelligence now and in the future?
A: We approached AI with a level of caution but have definitely been involved for several years. We worked closely with Reasint Technologies during that time to develop, refine and test an AI coding program and are rolling it out across the company. Our goal was not to replace human coders but to provide them with the tools to enhance the quality of their work. We’ve found AI works best in the larger context of process design and not just as a substitute for a specific task. For example, by using what we’ve learned through AI-supported processes, we’ve been able to develop analytical resources, feedback processes and data-driven recommendations that greatly reduced medical necessity denials for our practices. The combination of human experience and advanced technology will continue to help MSN quickly adapt to new coding documentation demands and ensure our physicians are appropriately paid for the work they do.
Q: Do you see a time when coding or other accounts receivable management tasks will be fully automated?
A: That’s an interesting question. We’ve streamlined a number of processes with automation but have found the best results occur when you combine human expertise with the right technology. That approach has been supported by the success we’ve experienced with new clients who previously worked with a highly automated billing company. So far we’ve found the companies that are too technology-dependent leave a lot of money on the table so they provide a cautionary tale for all practices.
Q: MSN has grown quickly over the past five years or so. Are there plans for major acquisitions and further expansion?
A: So far we’ve grown organically and without outside financing. Over the years we’ve acquired some smaller billing companies but we place an emphasis on making sure they have the right culture and can contribute to our capabilities rather than just adding to our size. I’m very happy with the results of that approach. We’ve also been selective about moving into other medical specialties and radiology is still MSN’s dominant specialty. For example, we added anesthesiology and pathology clients but it was important to first make sure we hired people with the right expertise in those specialties. We grew that aspect of our business slowly because we wanted to make sure we did it correctly right from the beginning and without sacrificing quality for our radiology groups. We’re structured in a way that supports rapid expansion to meet market opportunities and don’t expect to incur debt to do that. That helps us to maintain flexibility while we focus on the right priorities—our clients.
Q: You’ve been the leader of MSN for many years. Are there retirement plans in the near future?
A: A lot of people ask me that but so far, no. In the earlier years of MSN, I had to be hands-on in every area and fortunately that has changed over time. Jim (Trotter) has worked with us for more than 25 years and during that time, handled an increasing number of responsibilities. He currently oversees all operations and is involved in making sure our technology supports current and future demands. We also have a large, talented management team and have been successful growing our internal skill base. All of this means I have excellent support and get to focus on the things I enjoy the most, making sure our client-focused culture remains in place and working directly with the leaders of our client groups.
I’m sure developing the talent in our staff extended my career and I’m grateful to be in the position of leading people who strive for excellence and are passionate about the work they do.
Q: Anything else you think people should know?
A: MSN has a reputation for developing long-term business relationships and consistently producing excellent results. We’ve actually had a couple of client groups who were approached with big promises and left for a while, but who came back to us when the hype didn’t match reality. We stick with our core philosophy— when our clients are successful, MSN will be successful.
It works.
