Press Release
July 20, 2009
Bloodhound and Eldorado Partner to Streamline
Claims Processing for Over 5 Million Lives
Industry Leaders Integrate Solutions to Deliver Cost Savings, Processing Efficiencies and Improved Payer-Provider Communications
DURHAM, NC — July 20, 2009 — Bloodhound Technologies, the only claims editing and analytics provider offering a fully transparent, customizable, real-time service and Eldorado Computing, Inc., a leading provider of health benefit and claims management platforms, announced today a partnership to streamline claims processing for Eldorado’s over 5 million patient population. This partnership will combine Bloodhound’s claims editing platform, ConVergence Point and Eldorado’s browser-based claims and benefits platform, Javelina to deliver real-time editing and transparency that will improve accuracy and control cost all while not delaying processing.
With increased complexity in healthcare services and financial pressures on payers and providers, clinical editing is an essential element of processing claims accurately. Bloodhound’s ConVergence Point contains costs, increases auto-adjudication rates and improves payer-provider relations all in sub-second response time. By bringing together Bloodhound’s Web-based, Software as a Service (SaaS) solution with Eldorado’s automated health benefits management system, third-party administrators, managed care organizations, payers and providers can increase scalability and real-time speed in claims editing and analytics.
“Our partnership with Bloodhound demonstrates our commitment to enhancing the automation of claims and benefits management to achieve optimum claims processing and editing adoption rates,” said Tom Castleberry, vice chairman of Eldorado. “Bloodhound Technologies brings a high level of expertise to the claims processing and analytics space and has the most comprehensive set of edits which results in a smoother and more consistent adjudication cycle.”
Javelina leverages the ease-of-use and accessibility of standard web browsers to deliver highly demanded functionalities such as user-defined field level labeling, real-time integrated workflow and intuitive Internet reporting tools. Javelina’s architecture integrates open source components, including relational database management system (RDBMS) and other middleware, eliminating costly licensing fees.
“As the healthcare industry continues to grow, there is a strong need to provide solutions that increase claims processing efficiency,” said Gary Twigg, chief executive officer and president of Bloodhound Technologies. “This partnership demonstrates the building momentum for innovative technology solutions in the healthcare market and is another great example of what value-added partnerships can bring to our customers.”
The only claims editing service to offer a fully transparent, customizable, real-time service for all participants in the claims revenue cycle, ConVergence Point 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. ConVergence Point also provides a Web portal for providers to see edits and correct claims before submission. ConVergence Point is the first and only next-generation platform to offer pre-adjudication editing that provides healthcare payers significant operational efficiencies in addition to identifying overpayments.
About Eldorado
Based in Phoenix, Ariz., Eldorado (Eldorado Computing, Inc.) specializes in health insurance application development, business process outsourcing (BPO) services, IT engineering and operational consulting. The company serves the full spectrum of organizations nationally and internationally engaged in managing health benefit plans, including third-party administrators (TPAs), health plans, employers and self-insured organizations. Together, Eldorado customers manage 5 million lives and handle 35 million claims annually. For more information, contact 602-604-3100 or visit www.eldocomp.com and www.Eldorado.com. *The legal entity remains unchanged as Eldorado Computing, Inc. Eldorado is a wholly owned subsidiary of MphasiS BFL, an EDS company.
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.
###
Contacts:
David Jackson
Bloodhound Technologies, Inc.
919-313-1651
djackson@bloodhoundinc.com
Brian Bogie
Schwartz Communications for Bloodhound
781-684-0770
bloodhound@schwartz-pr.com