Companion Technologies Launches Product for Managing Medicare Claims.COLUMBIA, S.C. -- Companion Technologies has launched Medicare CFO See Chief Financial Officer. , a function of its EnterprisEDI software, to help hospitals and other healthcare providers track and generate statistical reports on Medicare Part A claims. Medicare Claims Financial Optimizer (CFO) allows for automation of many of the manual steps involved with following up on Medicare claims. Staff can use Medicare CFO to retrieve all claims information from Medicare, track the status of Part A claims, identify claims that must be amended or corrected to ensure Medicare payment Noun 1. medicare payment - a check reimbursing an aged person for the expenses of health care medicare check bank check, check, cheque - a written order directing a bank to pay money; "he paid all his bills by check" , and generate statistical reports to identify trends and reasons for denial. Medicare Part A covers inpatient inpatient /in·pa·tient/ (in´pa-shent) a patient who comes to a hospital or other health care facility for diagnosis or treatment that requires an overnight stay. in·pa·tient n. hospital, home health, skilled nursing and hospice services. Providers will find Medicare CFO especially useful for sorting denied claims by procedure codes and rejection codes in order to improve billing procedures, reduce denials, reduce days in accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying , and increase cash flow. The reports can be exported to a variety of programs and formats, including Microsoft(R) Word, Microsoft Excel (tool) Microsoft Excel - A spreadsheet program from Microsoft, part of their Microsoft Office suite of productivity tools for Microsoft Windows and Macintosh. Excel is probably the most widely used spreadsheet in the world. Latest version: Excel 97, as of 1997-01-14. (R) or an HTML HTML in full HyperText Markup Language Markup language derived from SGML that is used to prepare hypertext documents. Relatively easy for nonprogrammers to master, HTML is the language used for documents on the World Wide Web. document. "This new function will enhance healthcare providers' revenue cycle management procedures," Companion Technologies Vice President Deryl Metze said. "The automation will reduce the amount of time staff members spend following up on and correcting claims, and its reporting aspects will help providers identify reasons for denial and use that information to reduce denials." Providers access Medicare CFO through a secure Web site, so they can view and analyze the data from any computer that has an Internet connection. Medicare CFO is an add-on module for EnterprisEDI, or it can be purchased as a stand-alone product. Companion EnterprisEDI is an ASP application that allows healthcare organizations to process and transmit insurance claims directly from a desktop computer while providing extensive reporting, file importing, claims editing, and eligibility verification. Based in Columbia, S.C., Companion Technologies (www.companiontechnologies.com) develops medical practice management and electronic medical records software for physician organizations and revenue cycle management software and electronic data interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. services for hospitals. Companion Technologies also provides computer hardware and network services. |
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