iTech releases SaaS based expEDIum Medical Billing Solution v1.0

June 19, 2010 - iTech Workshop Private Limited (iTech), a leading SaaS based Healthcare billing solution provider announces the availability of its expEDIum Medical Billing Solution v1.0 in a subscription (SaaS) model. The solution provides complete automated life cycle management of medical claims including automatic reconciliation of 835 (ERA), delayed payer report processing and denial management among other features. This solution provides better billing productivity for Practices, Hospitals, IPA, MSO, Healthcare BPO/KPO and Billing service bureaus.

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 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 hosted eMB 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).

The solution is seen to provide generally over 50% more billing productivity compared to legacy systems due to more efficient processes and features. The average payment cycle time through this solution is seen to be generally about 11 days compared to legacy system’s 24 days (eMB’s median of 9 days vs legacy’s 14 days, eMB’s 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. A future upgrade to eMB solution shall provide support for ICD-10 and HIPAA v5010 seamlessly. A list of features is available at http://www.itechws.com//medicalbilling.html and demos can be requested through iTech’s 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 health care 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

iTech Workshop Private Limited
No. 481, Amar Jyothi Layout
Domlur New Extension
Bangalore -560071
India
Phone:813.260.2565, Fax: 91-80-41254125

This release was published on openPR.