CareMedic Systems Announces Consolidated Payment Management.ST. PETERSBURG, Fla. -- CareMedic Systems, Inc., a leader in proactive financial management for hospitals and providers, today announced its release of OptimizeAR[TM] Consolidated Payment Management. Currently in beta testing (programming) beta testing - Testing a pre-release (potentially unreliable) version of a piece of software by making it available to selected users. This term derives from early 1960s terminology for product cycle checkpoints, first used at IBM but later standard throughout the at New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Presbyterian Hospital Presbyterian Hospital can refer to several places:
"We saw a real need among our customers for a solution that would expedite ex·pe·dite tr.v. ex·pe·dit·ed, ex·pe·dit·ing, ex·pe·dites 1. To speed up the progress of; accelerate. 2. and automate the payment management process, as well as facilitate better reporting," notes CareMedic CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Chairperson chairperson Chairman The head of an academic department. See 'Chair.', Cf Chief. Sheila Schweitzer. "Accurately converting paper-based Explanation of Benefits (EOB EOB Explanation Of Benefits EOB End Of Block EOB Eye of the Beholder (game) EOB Executive Office Building (next to White House) EOB Electronic Order of Battle EOB Electricity Oversight Board ) information to electronic data not only improves workflow, but it optimizes reconciliation, management and reporting. In addition, Consolidated Payment Management allows healthcare organizations to reduce the cost of paper document storage and retrieval." Working as a team, New York Presbyterian and CareMedic have made outstanding progress through the beta phase of this project. Through technology-enabled processes and parallel testing efforts, CareMedic has begun electronically capturing critical payment, adjustment and denial data which, up to this point, have been trapped on paper EOBs. Transforming the electronic data to industry standard remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. files eliminates manual data entry into patient accounts. As a result, New York Presbyterian expects reduced costs, increased efficiency and improved information delivery. "Manual payment posting is one of the most labor-intensive tasks remaining in the revenue cycle," states Steve Kurz, vice president of patient financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. at New York Presbyterian. "At the same time, applying payments, adjustments, and other transaction details to patient accounts--timely and effectively--is a mission-critical activity. By automating the task of capturing paper-based EOB information and transforming it into electronic data, we can reduce and re-focus our labor efforts, and increase efficiency at the same time." CareMedic's newest product offering, OptimizeAR Consolidated Payment Management will fit seamlessly within the company's comprehensive set of revenue cycle tools. The system can automatically upload indexed EOB images to CareMedic's ImageAR[TM] Document Management system (or other document management systems) for easy electronic access when needed. In addition, the system can transfer denial and other data to CareMedic's OptimizeAR Denial Management system and electronic Financial Record[TM] to facilitate more complete denial and revenue cycle workflows and reporting, as well as patient-level data storage and retrieval. About CareMedic Systems, Inc. Founded in 1997, CareMedic Systems provides enabling technologies and outsourced services that move and manage critical data through the healthcare revenue cycle, ultimately improving cash flow and margins while reducing operational expenses. The company's fully integrated data management and workflow tools address revenue cycle activity from inception through claims resolution, and require manual intervention only when necessary. CareMedic is committed to consistently delivering results to its customers. For additional information, visit www.caremedic.com. |
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