Edward Hospital & Health Services Selects Concuity's ClearContracts(TM) for Contract and Denials Management and EOB Pro for Receivables Management
Posted on: Monday, 14 January 2008, 09:00 CST
VERNON HILLS, Ill., and DUBLIN, Ireland, Jan. 14 /PRNewswire/ -- Concuity, a healthcare division of Trintech and a leading provider of contract management and revenue recovery technology ("Peer Reviewed by HFMA") and services, today announced that Edward Hospital of Naperville, Illinois has selected ClearContracts to improve the management of payment variances, denials, and revenue recovery and EOB Pro to retrieve, consolidate, and standardize electronic remittances from multiple payers into 835s.
Founded in 1907, Edward Hospital & Health Services is a full-service, regional healthcare provider offering access to complex medical specialties and innovative programming in the west and southwest suburbs of Chicago.
"We have developed visionary goals for our payment and revenue recovery operations, including acquiring benefits through the disciplined execution of best-in-class contract management and EOB processing technology," said Todd Conklin, vice president of finance, Edward Hospital. "To increase efficiency, we wanted to employ only one application combining payment and denials management with contract management; hence, why we selected Concuity. They offer a proven user-friendly, integrated suite that generates efficiencies and a better bottom line.
Web-based ClearContracts enables healthcare organizations to analyze overall contract performance, verify expected reimbursement, and enhance the financial profitability of new and proposed payer contracts. ClearContracts allows users to analyze every single claim flowing through their systems, based on the complex terms of their contracts, including carve outs, high cost drugs, stop-loss, and many other payment methodologies. With ClearContracts, health organizations can quickly gain control over payer contracts to recover lost revenue due to underpaid claims. The EOB Pro system extracts all data necessary for applying cash to patient accounts, and imports into ClearContracts for contract underpayment and denial management.
"We welcome Edward Hospital as a new client and we look forward to contributing to their business growth through improved revenue cycle management," said Edward Gallo, EVP of Concuity. "Healthcare organizations are increasingly challenged with rapid change, dynamic and increasing costs, and complex agreements. Concuity provides a competitive edge to leading healthcare organizations by providing them with greater visibility, control, and flexibility in managing their agreements and associated compliance, terms, and cost."
About Edward Hospital
Edward Hospital & Health Services is a full-service, regional healthcare provider offering access to complex medical specialties and innovative programming. Edward Hospital has 311 private patient rooms and 4,800 employees, including 1,450 nurses and a medical staff of more than 900 physicians, representing more than 60 medical and surgical specialties and subspecialties. Edward, ranked as the 10th largest hospital in the Chicago area by Crain's Chicago Business in 2007, is the largest employer in Naperville and is the busiest hospital in DuPage County for inpatient discharges, births, and emergency visits according to the Metropolitan Chicago Healthcare Council. For more information on Edward Hospital & Health Services, visit http://www.edward.org/.
About Concuity
Concuity offers industry-leading solutions to increase hospital revenue by identifying and correcting payer non-compliance issues in the contract revenue cycle, including ClearContracts(TM) which has been reviewed by HFMA and features the notable "Peer Reviewed by HFMA" mark.
Founded in 2000 by a group of healthcare industry visionaries and now a valued Division of Trintech, Concuity improves its customers' bottom lines by delivering technology and service solutions that allow negotiation of more profitable contracts, ensure accurate implementation and compliance, and maximize revenue. Clients include University of Utah Hospitals and Clinics, Salt Lake City, UT, Riverside Medical Center, Kankakee, IL, and Providence Health System, Seattle, WA. Concuity is headquartered in Vernon Hills, Ill. For more information, call 847-465-6003 or visit http://www.concuity.com/.
About Trintech Group
Trintech Group Plc is a leading provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech's recognized expertise in reconciliation underpins its suite of financial governance solutions, enabling businesses to address critical business objectives leading to more informed decision making and better overall business performance.
Over 500 leading global organizations, including -- North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer's Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren -- realize the benefits of Trintech's configurable and highly scalable solutions everyday to: improve performance through stronger management of the revenue cycle and disbursements; ensure the accuracy and integrity of financial data; identify and reduce transaction risk; improve the quality and timeliness of financial reporting; and strengthen internal controls to support compliance requirements.
For more information on how Trintech can help you gain greater visibility and control of your critical financial processes, please contact us online at http://www.trintech.com/ or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
Trintech Press Contact: Dallas: Donna Martinez, Marketing Communications Manager, Trintech Tel. +1 972 739 1611. email:donna.martinez@trintech.com
Concuity
CONTACT: Donna Martinez, Marketing Communications Manager of Trintech,+1-972-739-1611, donna.martinez@trintech.com, for Concuity
Web site: http://www.concuity.com/http://www.trintech.com/http://www.edward.org/
Source: PRNewswire
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