Accounting and Financial Software
E-Billing Software targets workers' compensation industry.
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Press Release Summary:
E-billing solution offers direct connectivity and integrated bill editing to workers' compensation health care providers, payers, and state program administrators. Users can access/exchange critical financial and clinical data in real-time through secure transaction gateways and portals. Software edits incoming medical bills to ensure that required data is present and accurate. It can also process electronic attachments from multiple practice management and document management solutions.
Original Press Release:
Ingenix Introduces Total Workers' Compensation E-Billing Solution
EDEN PRAIRIE, Minn., April 30, 2007 - Ingenix, a leading health information technology company, announced today the launch of a total e-billing solution designed to offer direct connectivity, integrated bill editing and lower cost to workers' compensation health care providers, payers and state program administrators. This solution will make the business of workers' compensation easier for millions of covered members and thousands of service providers by reducing cycle times and high costs involved in manual mail screening and processing.
Ingenix technology will enable workers' compensation industry stakeholders to access and exchange critical financial and clinical data in real-time, directly and in batches through secure transaction gateways and portals. In addition, Ingenix software will edit incoming medical bills to ensure that required data is present and accurate, increasing the efficiency and value of thousands of information exchanges per day. The system will also seamlessly process electronic attachments from multiple practice management and document management solutions. The Ingenix solution would dramatically reduce the average billing cost to an insurance carrier. Currently, the carrier cost to receive a paper medical bill is estimated between $2 - $5, resulting in a total cost from $9 - $22.5 million annually to the Texas workers' compensation system.
"Ingenix is taking the lead in providing an end-to-end billing to payment solution to this underserved market," said David Ostler, executive vice president of Ingenix. "With our recent integration of ENS and Claredi electronic data interchange and e-commerce capabilities with Ingenix coding, editing, claims and health care transaction management technology, we have become the true leader serving the workers' compensation industry."
Through a strategic partnership between Ingenix and Red Oak EDI Solutions (ROES), workers' compensation health care providers, payers and state administrators may also integrate submission of the First and Subsequent Reports of Injury in the e-billing process to determine claim status and coverage, eliminating the need for multiple data streams and reducing costs based on transaction volumes and vendor management.
Ingenix's and ROES' e-billing solution will enable workers' compensation health care providers and payers to comply with initiatives from the states of Texas and California mandating electronic transmission of medical bills and other related documents beginning in early 2008. Payers in Texas and California are already required to send First and Subsequent Reports of Injury and adjusted medical bills electronically to those states' workers' compensation commissions.
"Ingenix offers a dedicated staff of regulatory compliance experts to help our clients understand, interpret and comply with all state mandate requirements as they are issued," said Ostler.
Workers' compensation industry stakeholders can also take advantage of Ingenix electronic funds transfer (EFT) and bill payment capabilities from Exante Bank, further lowering costs and making the offering a truly integrated end-to-end solution from data submission to payment. The state of Ohio's Bureau of Workers' Compensation estimates the cost of processing a payment by check at $2.50 per transaction, versus 4.5 cents per electronic funds transfer.
"Ingenix and ROES offer the comprehensive solution to EDI connectivity and e-billing compliance, as well as efficient claim processing and electronic payment," said Ostler. "We provide the tools to help workers' compensation stakeholders expedite their operations with confidence and control administrative expenses."
About Ingenix
Ingenix, a wholly-owned subsidiary of UnitedHealth Group (NYSE: UNH), transforms organizations and improves health care through information and technology. Organizations rely on its innovative products, services and consulting to improve the delivery and operations of their business. More information about Ingenix can be obtained at www.ingenix.com.
About Red Oak E-Commerce Solutions, Inc.
Red Oak E-Commerce Solutions' goal is to provide superior electronic data interchange (EDI) products, services and customer support to claim administrators, their vendors and state jurisdictions. ROES provides software and consulting services that collect, edit and transfer workers' compensation data electronically using cost-effective and efficient EDI processes to meet states' reporting requirements.
ROES' EDI capabilities eliminate the need for desktop software. Clients can enter data via a secure internet connection, fully integrate their EDI processing within their claims management or bill review systems, or use a hybrid solution. ROES has a proven track record of successfully implementing EDI in over 29 states.
ROES' solutions use the IAIABC Release 1, 2 or 3 formats and XML for injury reporting, and the ANSI ASC 837 or flat file formats for medical bill reporting. As part of our standard offering we provide extensive edits and full service transmission services to help ensure accurate and timely delivery of data. For more information about Red Oak E-Commerce Solutions, Inc. or our products and services, contact Pat Cannon at (512) 363-4297, email prcannon@roesinc.com or visit www.roesinc.com.
