MedAvant Offers Insurance Eligibility Verification for 42 Million Medicare Recipients.New Lease with IVANS IVANS Insurance Value Added Network Services , Inc., Makes Additional Real-Time Service Possible ATLANTA -- MedAvant Healthcare Solutions (MedAvant) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PILL), a leader in healthcare technology and transaction services, today announced that providers can now verify insurance eligibility for more than 42 million Medicare recipients through MedAvant's real-time portal services. The new feature is possible through an agreement with IVANS, Inc. "MedAvant has offered real-time eligibility verification in less than 20 seconds for its customers for the past 4 years and most recently committed to the standards set forth by the Council for Affordable Quality Healthcare," said John Lettko, 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. . "This expanded connectivity with IVANS allows us to deliver better service to our clients and is an important component of our portal solutions." Medicare provided insurance coverage to 42.5 million people in 2005, according to the Centers for Medicare and Medicaid Services The Centers for Medicare and Medicaid Services (CMS), previously known as the Health Care Financing Administration (HCFA), is a federal agency within the United States Department of Health and Human Services (DHHS) that administers the Medicare program and . Verifying eligibility online allows healthcare providers to confirm that a patient is eligible for coverage before providing treatment. If the patient is not covered, the provider can make other payment arrangements while the patient is in the office. Tara Mondock, Business Development Director of Healthcare at IVANS, said, "More than 200 providers and clearinghouses have already signed up with IVANS Real-Time Medicare Verification solution. The popularity of this solution is due in part because it eliminates the need to perform patient verifications via inefficient phone calls, thereby reducing the risk of taking on collections in validating patient coverage as well as accelerating the claims process for collection of secondary payer information. We look forward to strengthening our relationship with MedAvant through the addition of our Medicare verification solution, and welcome them as our newest member." The Council for Affordable Quality Healthcare (CAQH CAQH Coalition for Affordable Quality Healthcare ) calls the ability to verify patient insurance information "one of the biggest administrative challenges identified by providers." A CAQH committee adopted a guideline that providers should be able to verify a patient's insurance eligibility from participating health plans in 20 seconds or less by March 31, 2007. More than 70 million Americans are covered by health plans which agreed to that standard. MedAvant is one of several companies committed to the CAQH standard. About MedAvant Healthcare Solutions MedAvant, a leader in healthcare technology services, provides healthcare transaction processing, medical cost containment services through NPPN NPPN National Preferred Provider Network NPPN National Parent Partnership Network [TM], business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in solutions and related value-added products to physicians, payers, pharmacies, medical laboratories, and other healthcare suppliers. To facilitate these services, MedAvant operates Phoenix(SM), a highly scalable and secure national information platform, which supports real-time direct connectivity and transaction processing between healthcare clients. For more information about MedAvant, please visit the Company's website at http://www.medavanthealth.com. MedAvant is a trade name of ProxyMed, Inc. About IVANS IVANS, Inc. provides the insurance and healthcare industries with fully managed network, 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. (EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. ) and agency-company interface solutions to help solve complex business issues. Headquartered in Old Greenwich, Conn. and a CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. approved vendor, IVANS serves over 500 insurance and healthcare organizations, more than 30,000 independent agents and 30,000 healthcare providers. With 24 years of experience successfully managing networks, the company also offers its clients relentless customer service, security solutions, reliable and accessible technical helpdesk support and expert enablement. IVANS, which was formed by 21 insurance companies, also has offices in Tampa, Fla. and Cincinnati, Ohio. For more information, visit www.ivans.com. |
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