MedAvant Commits to Further Improvements in Electronic Administrative Data Exchange in 2009
ATLANTA, Sept. 25, 2008 (GLOBE NEWSWIRE) — MedAvant Healthcare Solutions (MedAvant), a leader in healthcare technology and transaction services, today announced that it has committed to complete testing in 2009 to certify that it can exchange electronic healthcare administrative data according to the CAQH Committee on Operating Rules for Information Exchange (CORE) new Phase II rules.
The voluntary business rules cover requirements for electronic connectivity, patient identifiers, claims status and reporting of patient financial responsibility for an increased number of service codes included in the HIPAA standards. The Phase II rules build on the rules created by the initiative during its Phase I efforts, completed in 2006 and will for the first time allow providers to receive consistent electronic information in real time about patient deductible balances from potentially any health plan at the point of care.
CAQH, a nonprofit alliance of health plans and trade associations working to streamline healthcare administration, launched CORE with the goal of enabling provider access to patient administrative information before or at the time of service using the electronic system of their choice. CORE rules are built upon existing standards, such as HIPAA. They are developed through a collaboration with more than 100 healthcare industry stakeholders as partners in a multi-phase rules development process. Participating health plans cover more than 130 million lives or more than 75 percent of the commercially insured plus Medicare and state-based Medicaid beneficiaries.
“Our goal at MedAvant is to connect healthcare providers and payers in real time so that they may transparently share administrative, financial and clinical information,” said Lonnie Hardin, MedAvant’s Chief Operating Officer. “By committing to adopt CORE Phase II rules we are also committing to our customers that we will continue to develop our products and services so that they may enjoy the best real-time technology available in our industry.”
MedAvant joins more than 40 organizations that have committed to becoming Phase II rules certified or endorsing the rules. MedAvant became CORE Phase I rules-certified in April, 2007.
“By using the CORE Phase II rules, MedAvant is demonstrating its commitment to making it easier for health plans and providers to communicate, and moving the industry one-step closer to interoperability,” said Robin J. Thomashauer, CAQH executive director.
MedAvant recently announced that it has been acquired by Marlin Equity, a private equity firm with more than $300M under management. The acquisition allows MedAvant to pursue an aggressive growth strategy through the investment of new capital into the company.
MedAvant is a national connectivity network that connects payers with providers in a real-time environment for the purpose of transparently messaging administrative, financial and clinical information in order to lower total administrative costs, improve payer, provider and member relationships, and to ultimately improve clinical outcomes.
For more information, visit http://www.medavanthealth.com. MedAvant is a trade name of ProxyMed, Inc.
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CAQH serves as a catalyst for industry collaboration on initiatives that simplify healthcare administration for health plans and providers, resulting in a better care experience for patients and caregivers. CAQH solutions help promote quality interactions between plans, providers and other stakeholders, reduce costs and frustrations associated with healthcare administration, facilitate administrative healthcare information exchange and encourage administrative and clinical data integration. Visit www.caqh.org for more information.
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CONTACT: MedAvant Teresa Stubbs 812-206-4332 email@example.com CAQH Chris McNamara 202-778-3271