Press Release
June 3, 2009
Emdeon and Bloodhound Partner to Improve Claims Workflow, Make the Business of Healthcare More Efficient
New Model Leverages Emdeon’s Position in the Claims Workflow and Bloodhound’s High Performance Claims Analytics to Deliver Cost Savings, Processing Efficiencies and Improved Provider Relations to Healthcare Payers
AHIP INSTITUTE 2009 SAN DIEGO, CA — June 3, 2009 — Emdeon, a leader in revenue and payment cycle solutions, and Bloodhound Technologies, the only claims editing and analytics provider offering a fully transparent, customizable, real-time service, announced today a partnership to deliver a new claims processing model that will provide healthcare payers with opportunities for greater savings, enhanced processing efficiencies and improved provider relations.
“We are very excited about the partnership with Bloodhound and the benefits it will bring to our payer and provider customers alike,” said George Lazenby, chief executive officer of Emdeon. “The new model allows for in-stream claims editing within our network before the claim is delivered to the payer for adjudication and payment. All edits are fully transparent and based on national protocols from the American Medical Association (AMA) and Centers for Medicare and Medicaid (CMS).”
“This approach offers payers the potential to achieve immediate savings in time and money with minimal implementation effort. Claims edits are completely transparent thus helping streamline settlement and ultimately enhancing the relationship between payers and providers,” Lazenby said.
The partnership brings together Emdeon’s pre-adjudication advanced claiming logic with Bloodhound Technologies’ ConVergence Point clinical code integrity platform. Combining these capabilities will simplify implementation of claims editing for payers and make it easier for payers to customize the solution to best meet their needs.
The new solution identifies savings other systems may miss through use of advanced algorithms, duplicate logic and the ability to edit across the total patient history. All edits are open-sourced, based on national references, and are easily accessible to providers through an Emdeon portal or embedded directly into a payer’s own portal.
This Web-based, Software as a Service (SaaS) solution, provides payers with transparent, standards-based logic, seamless updates and online reports and analytics. Because the solution is delivered pre-adjudication, the number of pended claims and rejected claims is reduced, resulting in a smoother and more consistent adjudication cycle.
“We consider Bloodhound’s partnership with Emdeon as the apex of a long-term vision we have had for effecting real transparency and cooperation between providers and payers,” said Gary Twigg, chief executive officer and president of Bloodhound Technologies, Inc. “This partnership allows for true in-stream claims adjudication and delivers an important component of our national goal of gaining efficiency within healthcare.”
About Emdeon
Emdeon is a leading provider of revenue and payment cycle solutions that connect payers, providers and patients to integrate and automate key business and administrative functions throughout the patient encounter. Through the use of Emdeon’s comprehensive suite of products and services, its customers are able to improve efficiency, reduce costs, increase cash flow and more efficiently manage the complex revenue and payment cycle process. Emdeon is owned by General Atlantic LLC and Hellman & Friedman LLC. For more information, visit www.emdeon.com.
About Bloodhound Technologies, Inc.
Bloodhound Technologies is the only claims editing service and analytics provider to offer a fully transparent, customizable, real-time service for all participants in the claims revenue cycle. ConVergence Point, its next-generation, hosted claims editing service, can process a claim against 16 million edits across total patient history in sub-second response time. All ConVergence Point edits are open-sourced and based on national standards and can be filtered to exactly match a payer’s reimbursement policies. Further, ConVergence Point provides a Web portal for providers to see edits and correct claims before submission. This remarkable service can integrate with any claims adjudication system, clearinghouse, or claims gateway.
Based in Durham, NC, Bloodhound Technologies is a venture-backed company with investments from Noro-Moseley Partners and The Wakefield Group. For more information, visit www.bloodhoundinc.com.
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Contacts:
David Jackson
Bloodhound Technologies, Inc.
919-313-1651
djackson@bloodhoundinc.com
Amanda Woodhead
Emdeon
615.932.3863
awoodhead@emdeon.com
Brian Bogie
Schwartz Communications for Bloodhound
781-684-0770
bloodhound@schwartz-pr.com