| Sy.Med
to the Rescue: Small Company Makes Big Profits Easing Paperwork
Burden of Doctors By: Karen Emerson-McPeak The Review Appeal & Brentwood Journal |
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In the days of high-tech, computer gurus and savvy business dealings, a small company in Brentwood is making news by changing a time consuming job in doctors' offices by making it easier and quicker. Sy. Med Development Inc. has also made headlines with its 2000 fourth-quarter results, announcing the largest net income in company history. For a company with only seven employees, its revenue increased by a whopping 227 percent over third-quarter earnings. The company specializes in the development of credentialing application software for physicians and managed care organizations. Credentialing information for doctors must be submitted to each provider, sometimes meaning 30 or 40 applications each year. With OneApp, office personnel can electronically send and receive physician data between health plans, IPAs and clinics, and keep all the provider data in one place. Sy. Med customizes the software package to the client - whether it's one doctor, 30 or more - and can be installed on one computer or several. In easy terms for the everyday patient, this may not seem like such a big deal, though savings of time and employee cost effectiveness will hopefully be realized in the final output of doctor costs to patients. To the office personnel, this could mean a reduction of many hours of repetitive work. "It's a narrow niche," said Jim Aylward, president and chief executive officer, "but one that can be very helpful." Aylward estimated that 30 percent of a doctor's budget goes toward paperwork. "We are thrilled with the recent success of our OneApp product," said Jim Edmondson, executive vice president of business development at Sy. Med. "The market seems to be getting word of OneApp's effectiveness in making the physician credentialing and data management process far less consuming and much more efficient." This small company, while supplying up-to-date software, still believes in old-fashioned business practices. Everyone in the company wears all hats when needed. A real person answers the phone, and friendly staff members are available to answer questions as needed about the software and also do the installation and teach the office personnel how to use the software. "I tell everyone, 'We need to be either producing revenue or saving a dollar,'" Aylward said. The installation process is easy, with Sy Med. staff members going to their clients' offices when basic computer equipment is needed. "We meet with the clients, discuss how they will use the equipment, then do the installation and train the staff," said Lance Herbert. "The whole process of installation and training takes usually no more than a day," said Blake Hardwick. "By the time we leave, the client knows how to use the software. It's really as easy as point and click." Sy. Med also listens to its clients, taking into consideration their input and many times actually including the recommendations in the software upgrades. "Our clients know better than us what they need," Hardwick said. "When they see their ideas being used, they feel they've actually contributed." The updates are then sent to all customers and are as easy as just downloading the new "patch." "All our customers then benefit from others' suggestions," Edmonson said. "We always make things better. We never take away anything," Herbert said. "We also explain what we're doing and why." Sy. Med markets its product by direct mail, phone calls and trade shows under the direction of Marketing Coordinator Christina Pierce. "It's a hard product to market," according to Aylward. "The service is actually for the doctor, but it's their office personnel who use it." The company began in 1995, under the name Medilink Inc., with the mission to simplify managed care. In 1996, the name changed to Sy. Med Development Inc. and was then was sold in 1998, only to be bought by company employees in 1999. For more information, log on to www.symed.com. or call (615) 370-0500. |
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