September 15, 2008
Turning Paper Charts into Electronic Records Results in
727% Revenue Increase in Seven Years
(Virginia Beach, VA) DOMA Technologies has cracked Inc Magazine’s top 500 fastest growing companies nationwide, ranking 55th among business service firms.
DOMA, a minority, veteran, and woman-owned firm, providing software and support for converting hard-copy documents into digital images for private sector and government clients, has seen revenues rise 727% since its founding in 2000. The company expects continued steady growth and 2008 revenues are expected to increase to $15-million.
DOMA Technologies, with corporate offices on Guardian Drive in Virginia Beach, has more than 160 employees today, most involved in helping hospitals, physician practices and other health care providers turn space-eating paper records into paperless digital files for easy access and retrieval. “Our customers are realizing millions of dollars in recovered revenue and savings because of the intelligent and easy to use software we have developed and the hands-on scanning and document services we provide,” says Ian Checcio, DOMA’s Vice President of Sales. “The applications are not limited to health care, but that is the field where demand continues to increase.”
It’s easy to see why. Many health systems, both locally and nationwide, are failing to bill for millions of dollars in services rendered or to appeal denied reimbursements because of backlogs of patient charts that had not been forwarded to medical records departments in a timely manner. Using DOMA’s secure, web-based system, companies are able to find information quickly while dramatically reducing paper use, physical storage space, and labors hours associated with managing paper documents.
One large, regional healthcare organization, Sentara Home Care Services headquartered in Chesapeake, VA, has been a DOMA customer for the last four years. "By capturing, storing and accessing records electronically through the iCharts application, Sentara Home Care staff members have been able to more timely store, access and retrieve patient documentation,” says Susan Zell, Director of Compliance and Regulatory Affairs with Sentara Home Care Services. “For this reason, Sentara has been able to increase overall staff productivity.”
In Hampton Roads, Bon Secours Health System, Children’s Hospital of the Kings Daughters and Eastern Virginia Medical School are also DOMA clients.
Other local companies, including ones in such fields as legal and financial services, cable television, real estate and construction, have also looked to DOMA to turn paper into electronic records. One local non-profit organization, Hampton Roads-based Operation Smile, uses DOMA software so that health officials around the world can go online to check the credentials and peer reviews of participating physicians.
DOMA Technologies will also do the necessary but time consuming “busy work” for clients. “We give them a choice,” says Ian Checcio. “They can outsource the scanning to the DOMA staff or the customer can do their own scanning on-site”. Working with local paper recycling companies, DOMA will also manage document destruction and recycling.
“We are pleased and excited to have made Inc.’s list,” says Leticia Feliciano, CEO of DOMA Technologies. “When you develop a product that improves productivity, enhances the bottom line, saves a natural resource, and allows professionals to focus on their core services that can add tremendous value to any size organization. We are gratified at our success to date and believe we have just scratched the surface in making more industries aware of the value of electronic document management using DOMA’s web-based, secure technology.”