Wolters Kluwer Sees 75% Jump in ProVation MD GIQuIC Registry Reporter Sales as GI Quality Reporting Climbs
Projects 87% Year-Over-Year Increase in FY2016 for Quality Reporting Tool
June 7, 2016 - The Health division of Wolters Kluwer, a leading global provider of information and point of care solutions for the healthcare industry, today announced 75% growth in ProVation® MD GIQuIC Registry Reporter licensing for fiscal year 2015 - a clear indication that the gastroenterology specialty is rapidly adopting quality reporting. A total of 446 facilities have licensed the reporting tool that automates and streamlines data submission to the Gastroenterology Quality Improvement Consortium (GIQuIC) registry. The company projects year-over-year growth of 87% for 2016.
Quality reporting is a crucial element of several Centers for Medicare and Medicaid Services (CMS) provider reimbursement programs, including:
- Physician Quality Reporting System (PQRS)
- Hospital Outpatient Quality Reporting Program
- Modified Stage 2 and Stage 3 Final Rule for Meaningful Use
"While some medical specialties are lagging in quality reporting, GI professionals are embracing it as a strategy for improving population health and maintaining optimal reimbursement revenue," said Irving Pike, MD, FACG, FASGE, Director and President of the GIQuIC Board. "With a fast growing number of gastroenterologists submitting to CMS via its qualified clinical data registry, GIQuIC provides a vital mechanism for meaningful GI quality measure benchmarking and reporting."
GIQuIC is a Qualified Clinical Data Registry for PQRS and a specialized reporting registry for Modified Stage 2 and Stage 3 Meaningful Use. While gastroenterologists have the option of reporting through approved quality registries or directly to CMS, failure to report will result in reduced reimbursements.
More than 500 facilities and 4,000 physicians submit data to GIQuIC and the registry recently surpassed 3 million colonoscopy records in its database. Approximately half of GIQuIC data submissions to date have come from physicians and facilities using ProVation MD.
"As many healthcare organizations struggle to navigate the transition to quality-based reimbursement, we are taking a lead role in helping them succeed by delivering tools to automate and streamline the collection, processing and submission of procedure data to approved quality registries," said David A. Del Toro, President and CEO of Clinical Software Solutions at Wolters Kluwer. "By simplifying the reporting process for our customers, ProVation MD helps them participate in quality-based reimbursement programs that protect their financial stability while improving patient care and outcomes."
The only structured reporting and coding solution that provides clinically relevant, intuitive software for more accurate and complete documentation of procedures, ProVation MD Gastroenterology allows physicians to effectively capture robust detail from even the most complex procedures. It then automatically generates clear, complete procedure notes and appropriate reimbursement codes - quickly, easily and without dictation.
About Wolters Kluwer
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.
Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
Wolters Kluwer Health is a leading global provider of information and point of care solutions for the healthcare industry. For more information about our products and organization, visit www.wolterskluwer.com, follow @WKHealth or @Wolters_Kluwer on Twitter, like us on Facebook, follow us on LinkedIn, or follow WoltersKluwerComms on YouTube.