Modernizing Medicine recently announced a significant expansion that will add 838 jobs by 2022. The Boca Raton, FL-based company started in dermatology and now serves a total of eight specialties. Jordan Miller, MD, Senior Medical Director of Dermatology for Modernizing Medicine, spoke with Practical Dermatology® about the company’s expansion and future plans.
1. STRUCTURED DATA IS GROWING
Since our founding, we’ve filled out the entire suite of services that a dermatologist would need. We’ve branched into practice management. We offer a pathology module for dermatopathologists to document and bill their readings of specimens. We have tele-help, which is linked directly to the patient record, which is a unique thing in the dermatology space. We have specialized registries for melanoma and vitiligo.
We have a very robust analytics platform, which allows you to look at your data and mix and match it and slice and dice it as many different ways as you’d like, which I think is really powerful and something that we’re able to offer that is unique in the market because of our structured data model. We’re also going to introduce a patient kiosk.
We’re one of the first companies from an EHR perspective to include the merit-based payment system, also known as MIPS, and we’re able to do this more easily than most companies because all of our data is structured. We’re able to analyze provider’s performance on the measures that MIPS thinks is important, and we report that to the provider in real time.
2. GROWTH HAS BEEN RAPID
Since we started we’ve grown pretty rapidly. We have 35-40 percent of the US dermatology market. We’ve been ranked number one, four times in a row by Black Book, which is independent research, coming from our clients actually. We’re number one in the inaugural class, ambulatory specialist 2016 report, which is also independent.
3. COMPLIANCE IS CRUCIAL
A large percentage of our efforts are focused on the compliance team that we have, which is there to make sure that we’re able to hit the benchmarks and gather all the information that is necessary to make this easy. We design with the intention that all these extra requirements that the government is rolling out and wants reported won’t interfere in the day-to-day documentation of patient care. We’ve designed things so that, based on what you’re documenting, we’re able to capture data and use that to report and let the client know or let the provider know, good or bad, whether they’re meeting that requirement. Then if they’re not meeting it, we can tell them why and how to change it, and then they can make the change at the point of care. That’s kind of how we’ve focused on it.
4. DATA = OPPORTUNITIES
When we started, we touted structured data. That was something that was new in the dermatology market, and it was relatively new in the market in general. At the beginning we talked about giving users access to their structured data. The analytics platform that I mentioned earlier brings that to the forefront and it’s a really powerful thing. When you can compare yourself and your group, you can see trends, you can see treatment outcomes, you can see how you’re doing compared to the country as a whole. We wanted to get a significant chunk of the market so that we could reliably compare and we’ve been able to do that. I think going forward, some of the things that we would like to do with structured data is give providers the ability to participate in studies, and because our data is structured, it’s something that pharmacology companies are interested in allowing our users to participate in.
5. DERMATOLOGY REMAINS A FOCUS
We have recently raised quite a bit of money and that money is going to be used to solidify the offerings that we talked about…We’re going to use some of that investment to push towards more adaptability, which I think would be something that our current clients would love. Dermatology continues to be our largest vertical—about 60 percent of our business
We are developing something that will be helpful for the patient. We have an enhanced patient handout that will be kind of rolling out in the next couple weeks that I think will be really exciting for our users and I hope that they take the time to kind of investigate it. We’ll be doing our own little push for it, but I think that it’s a small thing that’s going to make a big difference.