MD Ranger was founded a decade ago with the goal of becoming the most comprehensive source for physician payment benchmarks. Since our first release in 2009, we’ve grown from offering 56 call and direction benchmarks to an online platform with over 320 benchmarks covering ED call, direction, hospital-based services, diagnostic testing, leadership, and clinical hourly rates, plus a broad scope of analytic, audit, and documentation tools.
Our success reflects the talents of a dedicated team and premier subscribers who champion innovation and push us to create robust benchmarks and tools to analyze physician arrangements.
How it all began
In the late 2000s, a trio of healthcare consultants came together with a core group of health systems to define a more accurate and efficient way to document market rates for physician contract payments. Veteran healthcare consultants Penny Stroud, Craig Paxton, and Michael Heil understood intimately the challenges faced by healthcare providers to document fair market value. Our founders envisioned a product that would provide instant access to high-quality benchmarks that could be used to evaluate and document FMV for the vast majority of physician contracts. The product would empower organizations to quickly and efficiently assess FMV for standard non-salaried physician arrangements like ED call coverage, medical directorships, and administrative agreements.
The concept was simple: a data firm that would create benchmarks by using data submitted by subscribing healthcare organizations so that ad hoc surveys were no longer needed. By working with hospitals, sample sizes would be large and stable and comprehensive payment data could be defined to capture all non-salary payment data. The goal was to create a cost-effective, standardized system to replace expensive one-off surveys and valuations.
The result was MD Ranger. Penny Stroud, CEO, says: “I’ve seen dozens of subscribers improve compliance and contracting procedures using our platform and benchmarks. With a 90+% retention rate, MD Ranger has shown that a reliable and consistent source of payment benchmarks can provide a powerful foundation for an efficient compliance program. I’ve personally witnessed organizations save time, money, and resources with MD Ranger. I am proud of our team and the product we’ve built.”
In 2011, MD Ranger moved from static reports to an online platform that allows users to look-up hundreds of benchmarks instantaneously. The platform includes contract comparison tools as well as compliance documentation tools. Analytic tools provide comprehensive reports to facilitate audits and identification of higher risk contracts. Our toolkit includes reports and graphs to compare spending by facility or service across multi-facility organizations and to comparable facilities, and to document commercial reasonableness with data on percent of hospitals paying for a service and number of positions per service.
When we released our first benchmarks in 2009, MD Ranger benchmarked 56 call and direction services derived from a database of 4,000 contracts from 190 hospitals across 17 states. Fast forward to 2019, where we now provide 320+ benchmarks derived from a rich database that includes more than 35,000 physician contracts, from 334 hospitals, across 32 states.
As we add more hospital, health system, law firm, medical group, and consulting firm subscribers, the scope of services and benchmarks we can provide continues to expand.