Med Advantage Announces Strategic Alliance Agreement With Enclarity(TM); AdvantagePoint(TM) Helps to Embrace a Total Solution Approach.ORLANDO, Fla. -- Med Advantage, one of the nation's leading credentials verification organizations (CVO CVO Chief Visionary Officer (corporate title) CVO Cascades Volcano Observatory (USGS) CVO Commercial Vehicle Operations CVO Chief Veterinary Officer CVO Custom Vehicle Operations ), today announced that it has signed a strategic alliance agreement with Enclarity, Inc., an information management and analytic software company focused on the healthcare market. Med Advantage, together with Enclarity, will offer AdvantagePoint(TM), a new product specially developed by Enclarity just for Med Advantage, via an ASP (application service provider) service to its customers. AdvantagePoint combines Med Advantage's primary source verification services with two Enclarity systems: ProviderPoint(TM), which continually optimizes provider data quality inside provider databases, and NPI NPI National Provider Identifier, see there Enabler(TM), which prepares companies for compliance with the National Provider Identifier National Provider Identifier Medicare A unique 8 character ID assigned by the National Provider System to providers/suppliers who bill for services or goods. See Medicare Identification Number, NSC, OSCAR, UPIN. (NPI) which is mandatory by May 23, 2007. "By partnering the newly developed AdvantagePoint, our clients will be able to be far more efficient," said John B. Witty, Med Advantage's president. "AdvantagePoint, coupled with Med Advantage's CVO services, works to solve added problems managed care organizations have been faced with: cleaning and maintaining their provider databases, as well as meeting the new NPI compliance. This total approach will provide our customers with added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
AdvantagePoint utilizes Enclarity's ProviderPoint technology -- which has a proven track record with health plans in finding and fixing the 50 to 70 percent of provider data that is inaccurate -- to clean, enhance and maintain Med Advantage customers' provider databases on a monthly basis. The clean provider data will enable Med Advantage's customers to optimize their internal business processes that are dependent on accurate provider data. As a result, they can reduce operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. by lowering costs to process and re-issue manual claims and payments, increase revenue and savings through improved network penetration, improve customer retention and achieve higher customer satisfaction results with more accurate provider directories. After the data has been cleaned, AdvantagePoint uses Enclarity's NPI Enabler technology, which crosswalks NPI numbers to the appropriate provider record, helping to prepare Med Advantage customers for NPI compliance. "We are delighted to be associated with Med Advantage, the largest privately owned Credentials Verification Organization in the nation," said Sean Downs, Enclarity president and 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. . "With AdvantagePoint, Med Advantage customers can have a competitive advantage by combining Med Advantage's CVO service with an easy, automatic technological solution to the problems of bad provider data, and preparing for the requirements of NPI compliance." Med Advantage and Enclarity will be at the Institute 2006, Annual meeting of America's Health Insurance Plans (AHIP AHIP America’s Health Insurance Plans AHIP Army Helicopter Improvement Program AHIP Academy of Health Information Professionals AHIP Association of Hearing Instrument Practitioners (Ontario, Canada) AHIP ARPANET Host-IMP Protocol ), in San Diego, June 7-9. About Med Advantage Med Advantage is the largest privately owned Credentials Verification Organizations (CVO) in the nation, providing credentialing services to managed care organizations and managed behavioral healthcare organizations in all 50 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , and The Commonwealth of Puerto Rico. With over thirteen years as a leader in the credentialing arena, Med Advantage has established one of the largest national databases with one million medical practitioners and six million verifications. The company currently maintains certification from the National Commission on Quality Assurance (NCQA NCQA National Committee on Quality Assurance, see there ) and accreditation from URAC URAC Utilization Review Accreditation Commission (health care accreditation & certification) URAC University Recreation & Aquatic Centre Ltd (Australia) URAC Union Regional de Apoyo Campesino . For more information about Med Advantage, please visit http://www.med-advantage.com. About Enclarity Enclarity brings new solutions to fight an old problem for healthcare and insurance payers: provider data errors. The company's software uses advanced analytics and proprietary technology coupled with a massive referential database and telephone verification to clean provider files, assuring the data is accurate and current, increasing the productivity and profitability of our customers. From keeping provider records correct and up-to-date with integrated solutions to helping businesses prepare for the National Provider Identifier mandates, Enclarity dramatically improves the integrity and reliability of healthcare data. Enclarity, Inc. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. headquartered in Aliso Viejo, California Aliso Viejo is a city in Orange County, California, United States. As of the 2000 census, Aliso Viejo population was 40,166. Aliso Viejo became Orange County's 34th city on July 1, 2001, and has been the only city in Orange County to incorporate since 2000. . For more information, visit http://www.enclarity.com. Better provider data. Right now.(TM) |
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