Concuity’s New Release of ClearContracts 8.0 to Improve Staff Efficiency and Increase Revenue Recovery
Vernon Hills, Illinois/Dublin, Ireland –May 2008 – 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 ClearContracts 8.0. The latest version of Concuity’s ClearContracts solution enables users to more efficiently manage institutional and professional claim reimbursement activities and maximize reimbursement for bundled claims as well as ambulatory payment/outpatient visits.
The Professional Calculation Engine of ClearContracts 8.0 has been enhanced to provide clients with a consolidated view of facility and professional claims. Users can easily determine expected payment and recover underpayments for institutional and professional accounts from the same user interface. With the addition of institutional bundling, ClearContracts 8.0 clients can manage code bundling in a number of ways. This new calculation method is designed specifically for institutional claims and can allow a hospital to compare one or more sets of codes (e.g. CPT 4, Revenue Codes) according to the hospitals contract specific, reimbursement formulas. What’s more, the reimbursements can be based on either the flat amounts for the entire bundle of codes or as a percentage of a codes fee schedule rate. Additionally, the user can further customize the bundling output conditions to refine the expected payment amount. Institutional bundling will help Concuity clients attain the maximum reimbursement for a prepared bill. ClearContracts 8.0 also includes enhancements to reconciliation reporting. Users can generate reports that reconcile patient account and financial data sent to data processed.
To address 2008 regulatory requirements, ClearContracts 8.0 includes enhancements to Ambulatory Payment Classification (APC) functionality. In addition to standard APC reimbursement, hospital clients can now view and calculate expected reimbursement for all new “Q” Code requirements for APC reimbursement.
“We have a consistent track record of delivering the most robust revenue reimbursement technology in our industry. We want our clients to have the ability to process their entire universe of claims efficiently and cost-effectively,” said Ed Gallo, EVP for Concuity. “ClearContracts 8.0 provides superior functionality on a SAAS platform, enabling healthcare providers to increase the success of revenue recovery for underpaid and/or denied claims while making the process more efficient and cost effective.”
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