Concuity Announces Partnership with Financial Healthcare Systems, LLC
Partnership Expands Concuity’s Product Suite by Adding Price Transparency
Vernon Hills, Illinois/Dublin, Ireland - June 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 its partnership with Financial Healthcare Systems (FHS Corp), a provider of a web-based solution for credible procedural price estimates that provides patients with specific out-of-pocket costs, allowing them to better plan for impending medical expenses, while giving hospitals the ability to more accurately project revenue. By partnering with FHS Corp, Concuity further enhances its value proposition for hospitals seeking to increase customer satisfaction, streamline operations, and improve revenue calculation.
PriceAdvisorTM, developed as a result of this technology partnership, will provide a seamless interface from the ClearContracts system to accurately calculate patient financial responsibility at any point during a patient encounter. Calculations are based on actual contractual agreements that providers have with insurance companies for covered patients.
“Our goal is to gather pricing information and disseminate it in a manner that will be of use to the healthcare consumer. The toughest barrier for most hospitals is the availability of tools with which they can present this data to patients. Many hospitals work with a blue bar sheet from their Charge Description Master,” said Travis Gentry, President for FHS Corporation. “Concuity’s PriceAdvisor, integrated with its contract management system, will leverage contract management data so that hospitals can estimate what it costs for a particular diagnosis or procedure, what a payer will pay, and what a patient can expect their balance to be. The marriage of ClearContracts with a price transparency application makes perfect sense.”
“Our partnership with FHS Corporation will provide additional growth opportunities for both companies and it represents an important addition to our well-established ClearContracts suite,” said Ed Gallo, EVP for Concuity. “Additionally, we’re pleased to provide an application that benefits both consumers and hospitals. Consumers get patient-friendly billing, which incorporates their specific condition and insurance coverage and hospitals get a system which enables them to earlier and better forecast revenue.”
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