Silk Information Systems, Inc.

Who We Are:

Silk Information Systems, Inc. (Silk) provides a true end-to-end enterprise solution for the medical market with a Software as a Service (SaaS) model to healthcare practices across the U.S. Silk’s model is unique in that it offers the following:

• A no cost entry in to Electronic Medical Records (EMR), practice management, billing, clearing house, revenue cycle management and other software, hardware and services that were previously too risky and/or costly for physician practices to attain.
• A model that compensates our company and the physician for working together to improve processes and management in a symbiotic relationship versus a traditional customer/vendor model that puts all risk on the physician and a one time reward for the company with small annual fees.
• A 360-degree view of your practice, in real-time, beginning at patient check-in and treatment all the way to the clearinghouse and payer payment with total transparency down to the individual patient encounter transaction level.
• An automated management process that monitors, alerts, manages and provides 7/24 oversight of the business process and financial management of each physician practice.

Silk quantifiably:

• Improves cash flow and net profit
• Increases accuracy and performance
• Increases skill set levels of the practice
• Increases volume capacity and production levels
• Increases personal time back to the physician
• Reduces headcount and paper work
• Reduces costs
• Reduces liability
• Initial practices have seen total collections increase from 10-40% after using Silk’s solution. This does not factor in cost savings.

Competitive Advantages:

Silk’s enterprise solution, sold as a SaaS model with a no-cost entry, provides a compelling platform to penetrate this emerging market. Silk's national Value Added Reseller (VAR) network adds exponential growth with real means for distribution and support through established relationships within the market segment. The unique platform of this business model creates an attractive revenue stream that is more stable for each VAR. For the healthcare practice, the pain of changing to a new platform and adopting new technology and processes is easily overcome with the increase in collected revenues.

Silk is also one of the few solutions in the industry to fully integrate all business functions of a medical practice, for virtually any specialty. This includes the ability to create personalized EMR workflows to capture patient visits, coding levels, SOAP notes and encounter data, all of which are directly integrated with the billing, registration and scheduling functionality. This business partnership allows Silk to retain its clientele for years to come. Silk also has an unprecedented opportunity to utilize its database to leverage information into actionable improvements across the patient, financial and audit spectrums of the practice.

The SaaS model system architecture enables Silk to make real-time changes directly into the practice workflow, improving the business process of each practice and its financial viability.

The full value proposition for the system includes:

• Dramatically improved cash collections, track performance, and lost revenue collections.
• The ability to access the system from virtually any location on any browser-equipped computing device, including workstations, tablet PCs, laptops, PDAs or cell phones.
• EMR and practice management software located in one system, and included in the same single Oracle database.
• Customizable and automated tools within the software, which allow customization to virtually any type of medical practice, as well as to the individual physician within the practice.
• A real time “Dashboard” and management system to view, report and act on the practice data.
• Co-location of the information, providing unprecedented control of receivables and asset management.
• Centralized Healthcare Service Bureau with the ability to remotely perform data analysis, physically change business process flow, and increase revenues on current work volumes in real time.