Software produces patient care cost estimates.
Press Release Summary:
Utilizing payer contracts, actual claim data, and patient benefit information, PriceAdvisor enables patients to learn more about their financial responsibility before receiving treatment while also helping hospitals accurately project revenue. It provides patient-specific costs with claim estimates based on historical patient payments and on current contract and claim data. Front-end information from patient registration is used to create predictive claim prior to admission.
Original Press Release:
Concuity Announces the Availability of PriceAdvisor
Concuity's Release of PriceAdvisor Combats Ineffective Pricing Transparency to Increase Patient Satisfaction & Improve Revenue Projection and Recovery for Hospitals
VERNON HILLS, Ill. and DUBLIN, Ireland, June 24 / -- Concuity, a healthcare division of Trintech (NASDAQ:TTPA) and a leading provider of contract management and revenue recovery technology ("Peer Reviewed by HFMA") and services, today announced the availability of PriceAdvisor, a web-based solution that will enable hospitals to accurately produce patient estimates by utilizing payer contracts, actual claim data, and patient benefit information.
There is a push toward increased healthcare quality and pricing transparency in the marketplace, largely driven by the growth in consumer-directed health plans, and as a consequence, hospitals are beginning to realize the importance of providing their patients with estimates for out-of-pocket costs, which is also an approach favored by HFMA. The problem is that it's often difficult for hospitals to provide meaningful and comparable pricing information. This is where PriceAdvisor can help our clients. PriceAdvisor can provide patient-specific costs -- claim estimates based not on just historical patient payments, but on current contract and claim data. PriceAdvisor helps patients learn more about their financial responsibility before receiving treatment, and it gives hospitals the ability to more accurately project their revenue.
"PriceAdvisor goes beyond current patient estimators available today. It provides consumers with upfront estimates of their healthcare costs based on actual contract obligations between providers and payers," said Ed Gallo, EVP for Concuity. "PriceAdvisor takes front-end information from patient registration and creates a predictive claim prior to admission. The claim is then adjudicated against contractual obligations with insurance companies. What is then presented to the patient is a true, easy to understand estimate of their financial responsibility for a planned healthcare visit. Ultimately, PriceAdvisor improves the quality of a patient's experience. Additionally, the solution creates visibility into hospital revenue much earlier in the revenue cycle -- while increasing efficiencies, accelerating payments, and enhancing workflow."
About Concuity
Founded in 2000 by a group of healthcare industry visionaries, and now a division of Trintech, Concuity improves its customers bottom line performance by delivering targeted revenue recovery solutions on a SAAS platform, including ClearContracts(TM) which has been reviewed by HFMA and features the notable "Peer Reviewed by HFMA" mark, that ensure accurate claims reimbursement, improve workflow and payment collection, streamline contract negotiations, optimize cash flow and profitability, and ensure accurate implementation and compliance.
Concuity's rich industry knowledge and market-focused technology solutions and services empower your organization to identify and then eliminate systemic issues that cause revenue inefficiencies. The result is a significant return on investment with long term sustainable improvement in revenue and profitability for our clients. For more information, call 847-465-6003 or visit http://www.concuity.com/.
About Trintech Group
Trintech Group Plc (NASDAQ:TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech's recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
Over 600 leading global organizations realize the benefits of Trintech's configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, eBay, Farmer's Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.
Trintech's technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.
For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at 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 15851 Dallas Parkway, Suite 900 Addison, TX 75001 Tel 1 972 701 9802
Trintech UK Ltd. Warnford Court, 29 Throgmorton St. London EC2N2AT, UK Tel +44 (0) 20 7628 5235
Trintech Technologies Block C, Central Park Leopardstown, Dublin 18, Ireland Tel +353 1 293 9840
Trintech Cypresbaan 9 2908 LT Capelle a/d Ijssel, The Netherlands Tel +31 (0) 10 8507 474
Source: Concuity
Web site: www.trintech.com/
