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Skip Shaw, VP New Business Development

Posted by Lisa Velasquez in Fi-Med's Executive Team, In the Press, Industry Updates

With wide-ranging, hands-on experience in business operations, strategy, finance, legal, mergers and acquisitions, human resources, IT, marketing, and research, William “Skip” Shaw may be the most well-rounded business development executive to walk through the doors of a burgeoning company. 

Shaw’s career in healthcare management began in 1983 at surgical products supplier Aesculap, where he was instrumental in growing the company’s annual revenue from $2 million to $57 million in just 12 years, attributable in large part to his high-touch influence on everything from technology to marketing to operations. 

In 1996 Shaw joined Velocity.com, and in his eight years there served as President, CEO and CFO. A software company who saw its heyday in the dot com boom of the mid 1990s, Velocity.com provided Shaw with no shortage of opportunities to further sharpen his skills in multi-disciplinary management. 

When it came time to restructure and sell Velocity.com assets, including PSImed, a billing solution for the healthcare industry, Shaw crossed paths with medical billing veteran Charles Morf. The two hit it off, and PSImed became one of three companies that merged to form ArborMed Corporation. Shaw stayed on to help with the transition, but by late 2004 he had become ArborMed’s full-time CFO. 

Over the next five years, Shaw would help ArborMed navigate growth through both market expansion and acquisition. In 2009, Shaw, Morf and the executive team at ArborMed recognized the opportunity for future growth and market share by partnering with Fi-Med Management, Inc., where they could leverage Fi-Med’s aggressive investments in technology and its culture of innovation to become a major player in the fast-changing medical billing landscape. Fi-Med’s acquisition of ArborMed was completed in October 2009. 

As vice president of business development at Fi-Med, Skip will oversee the due process for mergers and acquisitions, and will continue to apply his breadth of expertise to help Fi-Med navigate its rapid growth in the marketplace. 

Shaw lives in Orinda, California, with his wife, Michele, and son. An emphatic music fan, Shaw’s collection of records, tapes and CDs numbers in the thousands.

Richard Usry, CHBME, Senior VP Healthcare Management Systems

Posted by Lisa Velasquez in Fi-Med News, Fi-Med's Executive Team, In the Press, Industry Updates

In 1970, when the rest of his college classmates were taking the stage in cap and gown at Virginia Commonwealth University’s graduation ceremony, Richard Usry was hard at work debugging software in Detroit. Just days before, medical supply industry giant General Medical Corporation had offered Usry a job as Data Processing Manager – an impressive offer for a new graduate and one he says he couldn’t refuse. 

The offer followed others from companies like IBM and ITT in New York, but Usry, newly married at the time, didn’t want to relocate. The opportunity to work with General Medical Corporation’s 11 divisions in Maryland and Virginia came at the right time, on the heels of a fresh degree – a B.S. in business management with an emphasis in computer science– and the preparatory experience of his work during school as a computer operator and programmer assistant for the Federal Reserve Bank in Richmond.

Over the course of his 40-year career, lucrative job offers and opportunities followed, and Usry became sought after in the industry by companies like Medical Data Services, who were implementing similar health care processing systems and needed expertise that at the time was in short supply. Usry built a reputation for speed and precision, developing highly saleable systems in a fraction of the time typically required – once developing a complex prototype from scratch in less than a week. The first system sold within hours of final post-production testing, and Usry went on to close more than $1 million in system sales to hospitals around the country. Later, Usry would be instrumental in the development of one of the first medical billing solutions for physicians using the mini-computer.

Today Usry heads up Healthcare Management Systems (HMS), a software division of medical revenue cycle management firm Fi-Med Management, Inc. HMS software, built to be scalable to medical billing operations of any size, was first put into practice by the University of Virginia Hospital System’s new health services foundation in 1980. Under the direction of the university and Price Waterhouse, Usry and his team customized an HMS software installation to bring the foundation’s members – 270 independent physicians at that time – all under one billing umbrella.

Usry continued to develop and evolve HMS through changing technologies and healthcare regulatory landscapes in the 30 years following, its success attracting the attention of ArborMed Corporation, a medical billing firm led by well-know medical billing veteran Charles Morf. ArborMed purchased Health Management Systems in 2005, and both entities were later acquired by Fi-Med Management, Inc. in 2009.

At Fi-Med, Usry continues to expand HMS nationally, and will be instrumental in developing the company’s growing presence in the radiology market. As part of the executive management team, he’ll help to shape Fi-Med’s future as a leader in the fast-changing healthcare billing and revenue management industry.

Richard Usry is a long-time member of the Healthcare Billing and Management Association (HBMA), involved in numerous committees, including vendor and education. He and his wife, Betty, live in Richmond, Virginia, and have three daughters with successful careers of their own.

Haiti Earthquake Relief

Posted by Karla Brown in Community Involvement, In the Press

I am sure by now you have all heard and seen the devastation that occurred in Haiti this week. A country of people who already have so little, now have even less. The loss of life is expected to be in the thousands and even more are injured or unaccounted for. Even though some relief has reached Haiti by planes, helicopters and Navy ships, efforts to get supplies to the people are being hampered by trees and other debris blocking roads. I have been to this place a few times, located in the beautiful Caribbean. Some cruise lines stop there so we can relax on the beaches, listen to the music and see what the locals have to offer. They are always happy to see visitors and eager to show us their goods they have made to sell in order to make a living. I must say I have left there a few times with a bag of goodies and a hope I have helped someone with the few dollars I gave.

Now, we all have a chance to help in some way, big or small. They truly need or prayers, but monetary donations are also urgently needed. They need this funding for food, water, shelter and medicine. The doctors there are saying they cannot even provide simple things such as aspirin because all was lost in the quake. You can find information on how and where you can donate on internet sites such as CNN or your local and world news networks. The Red Cross has information on their website and former President Bill Clinton has a relief site at www.clintonfoundation.org/haitiearthquake. I got a text number last night while I was watching ABC World News that I used to make a donation. You text the word HAITI to 20222 and $10.00 will be added to your cell phone bill. It may seem minimal, but honestly they are pleading for whatever people can give.

So pass the word on to your family and friends and give whatever you can. And please don’t stop praying for the people of Haiti.

Weathering The Storm: Proactively Blending Management And Technology To Keep From Being The Last Dinosaur In The Swamp

Posted by Lisa Velasquez in Fi-Med News, Fi-Med Services, In the Press, Industry Updates

Nov 21-24 2009

Grand Hyatt, New York

At a time of year when many people are looking forward to being reunited with friends and family to celebrate the upcoming holidays–Adrian Velasquez and Christine Krause, at the request of Princeton University, will be in New York, attending the 35th annual Business Today International Conference at the Grand Hyatt in Times Square. There they will join over 70 of the nation’s leading CEO’s and executives while also contributing to the Harvard Business School Case Study “Weathering The Storm: The Challenges And Opportunitites Of A Global Slowdown”.

150 students representing over 100 colleges and 20 countries were selected to receive an all-expense paid trip to attend the conference which will focus on such themes as the business cycle, the competitive landscape as well as the evolving political environment. Adrian and Christine will be speaking on the topic “Weathering the storm: Proactively Blending Management And Technology To Keep From Being The Last Dinosaur In The Swamp”.  As keynote speakers, Adrian and Christine will share information about the changes Fi-Med is making, both strategically and culturally, to adapt to the current economic environment.

Founded in 1968 by Steve Forbes, Michael Mims, and Jonathan Perel during their undergraduate years at Princeton University, Business Today started as a magazine featuring student-written articles, executive-written articles, and executive interviews. Business Today has now expanded to include their Online Journal, Conference, and Seminar Series Programs, all with the aim of fostering dialogue between students and executives.

Fi-Med Recipient Of Master Mettle Award

Posted by Lisa Velasquez in Business Awards, Fi-Med News, In the Press, Industry Updates

The MMAC/COSBE Future 50  program was created nearly 30 years ago as an event to recognize the outstanding achievement of local, fast-growing entrepreneurs. Members of the Fi-Med team celebrated along side other winners at the awards luncheon held September 17, 2009 at the Hilton Milwaukee City. Fi-Med was awarded the “Master Mettle Award”, an honor reserved exclusively for three time winners.  You can read all about it here. All 50 winners were asked to share their key strategies for surving the economic turndown, those interviews can be found by clicking this link.

Did you find this information helpful? If you have information that you think would be of interest to the medical or business community and would like the information posted on our blog, please submit your request for review to my attention at or via DM on Twitter@fimed

2009 Inc. 5000 Winners Announced

Posted by Lisa Velasquez in Business Awards, Fi-Med News, In the Press

Inc. Magazine Unveils Exclusive List of America’s Fastest-Growing Private Companies-the Inc. 5000

Fi-Med Management, Inc. Ranks No. 1344 on the 2009 Inc. 5000 with Three-Year Sales Growth of 237.7%

NEW YORK, August 12, 2009–Inc. magazine today ranked Fi-Med Management, Inc. NO. 1344 on its third annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The list represents the most comprehensive look at the most important segment of the economy-America’s independent-minded entrepreneurs. Consumer electronics maker Vizio, Internet giant GoDaddy, rental car service Zipcar, and beverage maker Honest Tea are among the prominent brands featured on this year’s list.

“Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate, ” said Inc. 5000 project manager Jim Melloan. “That’s why our list is so eagerly anticipated every year.”

Fi-Med Management, Inc. is an award-winning financial management firm providing comprehensive claims, coding, billing, lockbox and financial reporting services to the medical industry.

The 2009 Inc. 5000, unveiled today on Inc.com, serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.

Contact: Lisa Velasquez 714-935-0073

 

HPAS-Healthcare Payments Automation Summit

Posted by Lisa Velasquez in Fi-Med News, Fi-Med Services, In the Press, Industry Updates

The Healthcare Payments Automation Summit (HPAS) , hosted by The Association for Work Process Improvement (TAWPI), will be held September 13-15 in Chicago, IL. This conference will cover all facets of healthcare payment automation as well as address strategic management issues within a variety of healthcare payments areas. Adrian Velasquez, President of Fi-Med, will join EOBReeze President, Rod Baker, to discuss how they worked together to improve automation of healthcare payments at Fi-Med Management, Inc.

Posting payments from a high volume of paper EOBs is challenging, automating the manual process can be equally effortful. Adrian Velasquez, founder and President of Fi-Med Management, Inc. worked with four different solutions that failed to produce results. Finally, Fi-Med achieved automation of this onerous process. Learn what did not work and why, the pitfalls and shortcomings of certain approaches and ultimately what did work. For more information or to register for this event please visit www.tawpi.org.

Press Release: Fi-Med Adds Nationwide Electronic Prescription Services For Physicians

Posted by Lisa Velasquez in Fi-Med News, Fi-Med Services, In the Press

Ahead of the curve: Fi-Med gets doctors on board with e-prescriptions before Medicare penalties take effect

In the rush to digitize health information and medical records, even prescriptions are making the jump from notepad to network. Soon the squinting and scrawling and folding and crumpling of the physician-pharmacist relationship will be replaced by high-speed data delivery from point-of-service, at time of service, direct to the pharmacy.

Fi-Med Management, Inc., a medical billing and financial management company headquartered in greater Milwaukee, announced this week the addition of electronic prescription services to its portfolio of client services.

The service, part of Fi-Med’s Electronic Medical Records (EMR) package, gives physicians the ability to send error-free, electronic prescriptions directly from point-of-care to the pharmacy without ever lifting a pen—a critical component in the improvement of patient care and safety.

Fi-Med’s e-prescription software partner, SequelMed, provides drug and benefit details and patient medication history from prior patient records, even those generated by other physicians and hospitals. Clients also have access to online drug reference guides, reporting capabilities and 24/7 electronic access to patient prescription data.

On January 1, the Centers for Medicare and Medicaid Services (CMS) released e-prescription codes, available here.

Physicians using e-prescriptions may be eligible for a 2% bonus payment at the end of 2009, provided they’re paid at least 10% of total Medicare Part B reimbursement for services in the office, with the consistent reporting of these codes. That bonus will decrease beginning in 2010, and penalties in the form of reduced payments through Medicare Part B are slated to affect physicians not using electronic prescriptions by 2012.

For more information or to subscribe to news affecting physician reimbursements and related services, visit the Fi-Med blog or call 800-318-0019.