Vero Orthopaedics has been keeping residents of Vero Beach, FL moving since 1976. With 2 locations, a staff of 80, and hundreds of patients daily, Vero Orthopaedics is busy with everything from sports medicine, hands, neurology, and beyond. All that work on patients means they deal with a lot of payers and even more payer contracts. Commercial carriers, multi-plan, medicare, medicaid, medicare replacement - you name it.
"We've got a lot of payer contracts," said Jennifer Davison, the CEO of Vero Orthopaedics. "There is so much information buried in each plan. It's so time consuming and tedious to dissect contracts." Davis and Vero Orthopaedics not only needed help making sense of their contracts, they also needed a way to get the most out of each payer. "That's why I brought Rivet in," said Davison. "It's one less major thing to worry about."
"It's scary to think about the amount of dollars we were losing before Rivet."
Today with Rivet, Vero Orthopaedics has their most up-to-date payer contracts and fee schedules on a single dashboard, providing clear visibility into reimbursement data. "Now I can show the physicians exactly what we receive from each insurance partner. It provides great transparency," said Davidson. "We could see which service codes we should prioritize for analysis." The platform also helps identify potential reimbursement discrepancies automatically. "We were just doing spot checks before because manual verification was challenging," Davidson continued. "With 450 claims a day, it's resource-intensive. Rivet streamlines the process wonderfully. Just yesterday, Rivet identified a payment variance in transactions for our largest payer that we might have missed. That's incredibly valuable."
Now Vero Orthopaedics approaches contract discussions with more comprehensive data. "We have much better information for our contract discussions," said Davidson. "We were able to present our comparative data when contracts were up for renewal and engage in productive discussions about rate adjustments. Through these collaborative conversations, we achieved a 20% improvement in our reimbursement structure."
"Rivet has driven up revenue massively. It paid for itself in less than a month," said Davison. "Many EMRs have contract tools on the backend but they're impossible to get to work right. Rivet even has orthopedic-specific rules all figured out. I've never seen someone do what they do. The biggest thing is that we're getting paid what we're supposed to and Rivet helps with that."
