Newest Offering Improves Customer Financial Performance at Earliest Revenue Cycle Stage
BOSTON - MedAptus® today announced the launch of MedAptus Provider Enrollment, the company's latest software component aimed squarely at effectively addressing the challenge of timely and complete physician credentialing. Partnering with MedAptus on this offering is Newport Credentialing Solutions, the nation's premier provider of cloud-based credentialing workflow software and IT enabled services.
While the credentialing process is a necessary step for physicians to receive payment from insurance carriers, it involves multiple handoffs, typically over a period of several months. With the recent advent of the Affordable Care Act (ACA), there are many new plans under which physicians must be credentialed. Should a provider not be fully enrolled with a patient's payer at the time of an encounter, reimbursement will be held back or potentially denied altogether.
MedAptus has been providing charge capture and management services to a range of provider organizations large and small for nearly 15 years. With the evolving reimbursement landscape and increasing administrative demands on physician organizations, the company has been focusing strategic efforts on expanding its solution suite to include technologies and services that address pain points earlier in the revenue cycle. The company's partnership with Newport is one of several initiatives underway to positively impact customer financial performance outside of MedAptus' historic mid-cycle emphasis.
"Newport Credentialing Solutions has spent many years refining its approach to the provider enrollment process and today offers the most robust toolkit available to groups looking to insource or outsource this component. Given that we work with many larger organizations employing hundreds of physicians, which could mean literally thousands of credentialing applications, we quickly understood this as an area at risk for revenue loss and as such, ripe for automation," said Gene Schneider, president and CEO of MedAptus. "MedAptus and Newport share the same set of core beliefs about delivering measurable value to customers and Newport as a strong track record with the same kind of large organizations that we have been serving for well over a decade."
"MedAptus and Newport are in complete sync when it comes to our views on the complex physician revenue cycle. While it might be easy to dismiss the credentialing process as a human resources issue, the reality is that there is too much reimbursement at stake to not have the support of a knowledgeable, proven team to ensure that every possible dollar is collected for services rendered. We are excited to support MedAptus as the company expands its revenue cycle footprint and we are confident that our offering will, as MedAptus customers have come to expect, help improve financial performance rapidly, and with less administrative burden," said Scott Friesen, CEO of Newport Credentialing Solutions. "Our customers will similarly benefit from access to the MedAptus Pro Charge Capture suite, empowering further revenue cycle enhancement at the mid-section of the process where coding and billing processes occur, often with a high degree of complexity and manual throughput that reduce productivity and slow payment."
MedAptus is the Gold Standard in the healthcare revenue cycle for achieving effective charge management, compliance and workflow efficiency. With offerings that include powerful and easy-to-use charge capture and management technologies, it is no wonder that many of the nation's most prestigious healthcare organizations rely on MedAptus for financial optimization. Our full-scale Professional, Facility and Infusion applications increase revenue, enhance EMR investments, re-engineer manual processes and yield substantially improved productivity. For more information, visit www.medaptus.com, call 617.896.4000, or follow us on Twitter @MedAptus.
About Newport Credentialing Solutions
Newport Credentialing Solutions is the nation's premier provider of cloud based software and IT enabled services dedicated to the credentialing life cycle. Newport provides cloud based workflow, analytics, and business intelligence credentialing software and IT enabled credentialing services to some of the largest academic medical centers, health systems, and multi-specialty group practices in the United States. Newport helps clients "Take Control" of their credentialing life cycle by streamlining operations, reducing credentialing related denials, and generating more cash for their organization.
MedAptus Contact: Jennifer Crowley