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HealthCare Transaction Processors Releases New Version of EDI Transaction Management Software for Hospitals Seeking to Improve Cash Flow

Posted on: Wednesday, 14 September 2005, 09:00 CDT

HTP Transaction Sentinel 2.0 Designed to Electronically Verify Insurance Coverage, Monitor Claims Status and Speed Payment Processing

HealthCare Transaction Processors Inc. (HTP), a developer of healthcare business process automation and clinical information exchange software, has released version 2.0 of HTP Transaction Sentinel(SM). This innovative software offers a cost-effective, fully automated way for healthcare providers to manage the revenue cycle from registration through payment. The software works beside existing platforms, automating current processes without interfering with them.

"Current HTP Transaction Sentinel customers have recovered hundreds of thousands, in some cases millions, of dollars by identifying and verifying insurance coverage for self-pay patients whose accounts were in arrears," said HTP President Ray Shealy. "In addition to improving the revenue cycle, HTP Transaction Sentinel also increases staff productivity and saves labor costs by permitting staff to work smarter and more efficiently through the Exception WorkLists that it provides."

After realizing a quick return on its investment, Mary Rutan Hospital in Bellefontaine, Ohio signed a four-year contract to use HTP Transaction Sentinel software to increase cash collections and facilitate claims. In processing the hospital's bad-debt accounts, the software identified accounts with more than $300,000 in billable charges that were, in fact, Medicaid eligible, allowing the hospital to file claims for reimbursement.

"That's a significant amount of charges that we would have missed," said John Kivimaki, Mary Rutan Hospital's director of patient accounts. "I have always felt that we could reap tremendous benefits from effectively using the different transaction sets mandated by HIPAA," Kivimaki added. "Transaction Sentinel gives us that capability."

HTP Transaction Sentinel addresses the entire revenue cycle management process, from registration to collection:

Patient Access/Registration functions are designed to:

-- Verify eligibility for every patient encounter - either before the patient arrives or at time of registration;

-- Provide data to enable point-of-service co-pay collection;

-- Integrate eligibility verification into existing HIS systems utilizing HTP Sentinel Connect(SM);

-- Verify coverage with multiple payers at one time;

-- Identify data discrepancies between the hospital information system and payer; and

-- Normalize non-standard benefit information from different payers.

Patient Accounting/Self-Pay Review features allow healthcare providers to:

-- Manage self-pay accounts, avoiding unnecessary write-offs;

-- Proactively monitor status of every claim through final disposition: and

-- Increase staff productivity with daily Exception WorkLists.

Payment/Remit Reconciliation components have the ability to:

-- Normalize non-standard electronic remit files from payers into one common data feed;

-- Balance/reconcile payments with remit; and

-- Analyze and manage denials.

"Using government standards and business intelligence, HTP Transaction Sentinel augments existing billing practices to help providers maximize reimbursement for their services," Shealy said. "Due to its reasonable pricing structure and ease of deployment, many providers find that the software pays for itself within a few months."

A previous version of HTP Transaction Sentinel, currently in use nationwide, has an installed user base of 80 hospitals and physician groups. A prominent client is the Utah Health Information Network, the first recognized Regional Health Information Organization (RHIO) in the nation.

"Our experience in Utah proved that efficient management of the revenue cycle begins with identification of patient eligibility and does not end until payment is received," Shealy said. "By contrast, most competitors have point solutions focused on only one aspect of the revenue cycle, such as claims submission, that significantly limit their overall effectiveness in getting claims paid."

HTP Transaction Sentinel 2.0 became available for general release on Sept. 1. For more information, call HTP at 888.487.8010, e-mail info@htp-inc.com or visit www.htp-inc.com.

About HealthCare Transaction Processors Inc.

HTP develops secure business process automation and clinical information exchange software that improves profitability and service quality for hospitals, physician groups, managed care organizations, third-party administrators, regional health information organizations (RHIOs) and public sector health plans.

Based in Columbus, Ohio, HTP supports 167 customers, including 87 hospitals and 60 health plans, by translating and moving more than 15 million transactions per month. HTP technology powers the Utah Health Information Network (UHIN), the nation's first Regional Healthcare Information Organization (RHIO). A 2004 Inc. 500 company, HTP and its executives have been recognized for leadership by the Ohio Third Frontier Project, the Ernst & Young Entrepreneur of the Year program and the Columbus Technology Council. Notable HTP customers include Ohio Medicaid and Utah Health Information Network.

For more information on HTP or to learn how its software is transforming healthcare information exchange for providers and payers, call 614.396.4549 or go to www.htp-inc.com.

Source: Business Wire

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