BANGALORE, INDIA, June 20, 2010
/24-7PressRelease/ -- iTech Workshop Private Limited (iTech), a healthcare IT solutions company with special focus on medical billing, HIPAA, X12N, direct payer connectivity, electronic claim life cycle, revenue cycle management products and solutions for the US healthcare domain, announces the release of expEDIum Medical Billing Solution v1.0 in a subscription (SaaS) model.
Some of the key features include:
- Built in "online validation" of claims rather than waiting for 24 or more hours waiting for claims to be validated.
- Denial Management including increased payment due to secondary insurance visibility [In one case with 7 doctors with 900 claims that were eligible for secondary payments were not processed earlier as the information was not visible on the legacy system and customer lost revenue of about $45,000 in one year].
- Built in direct payer / CH connectivity providing seamless uploading of electronic claims and downloading of remittance advices and other reports. This reduces hours spent by billing administrators daily.
- "Provider direct" feature where providers can get to watch the status of their claims and look at analytics using a configurable dashboard using a secure logon.
- Increased claim life cycle visibility.
- Automated ERA processing reducing EOB data entry time.
- Built-in patient statements and collection agency reports features.
- EMR Integration - Secure and seamless connectivity from any existing web based or client-server EMR solution to our hosted billing solution.
- This platform price rolled into a single monthly subscription; no hardware/software or IT support costs and no capital expenditure. The pricing is for "all" available features without any "add-on" pricing for additional features (as in other equivalent products).
We have seen the solution providing over 50% more billing productivity compared to legacy systems due to more efficient processes and features. We have seen the average payment cycle time through this solution to be about 11 days compared to legacy system's 24 days (our median of 9 days vs legacy's 14 days, our 80 percentile of 15 days vs legacy's 27 days).
The solution can be hosted securely on a SaaS (Software as a Subscription) model over the Internet or the Intranet for a monthly subscription. The solution is available in a "mega-tenant" model and shall be available on a retail "multi-tenant" model in the future. Our solution shall provide support for ICD-10 and HIPAA v5010 seamlessly in the future. A list of features is available at
http://www.itechws.com/medicalbilling.html and demos can be requested through our website.
iTech's Business advisor, Mr. Ramesh Shastri added that "This is truly a game-changing platform that leverages the best in technology to deliver a comprehensive billing solution at a low price point that is a big step in the direction of reducing claims processing, administrative costs and making healthcare more affordable."
About iTech
iTech's expEDIum suite includes expEDIum Adapters, expEDIum Claim Scrubber, expEDIum Claims Portal and expEDIum Medical Billing and processes over 9.8 million healthcare claims across all its products aggregated per year currently. These are a combination of Professional, Institutional and Dental claims. iTech has several clients for its cost effective healthcare IT solutions and products from across the US. iTech can be reached through its website
http://www.itechws.com.
Sivakumar Narayanaswamy
nsiva@itechws.com
813.260.2565
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Press Release Keywords:- medical billing, claims processing, revenue cycle management, saas, hipaa, subscription based, secure web based, electronic claims, direct payer connectivity, pms, ipa, mso, billing services, clearinghouses, practices, hospitals, healthcare bpo, healthcare kpo, v5010
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