Leading Internet-based medical claims clearinghouse also unveils new appeal letters product as company continues record growth
ATLANTA, September 19, 2011-Navicure, a leading provider of automated, Web-based revenue cycle management (RCM) solutions for physician practices, today announced the company continues to grow at a record pace during 2011 by launching new products and adding numerous new customers to its client base. Both have again earned Navicure a spot on Inc. magazine's Inc. 5000 list for the fourth consecutive year.
Navicure's Web-based account receivables management solutions automate receivables processes, including patient eligibility verification; primary and secondary claims reimbursement; rejected and denied claims management; electronic remittance posting; claims and remittance reporting and analysis; and patient statement processing. Through the use of these solutions, practices can improve their operating margins and enhance cash flow. Some of the new clients that have recently selected Navicure include:
- Botsford Hospital - a 330-bed healthcare facility serving the southeastern Michigan area.
- Carolina Neurosurgery & Spine Associates (CNSA) - a neurosurgical practice with more than 25 physicians and surgeons and a staff of physical therapists in the Charlotte, North Carolina area.
- Capital Cardiology Associates, PC - a full-service cardiology practice serving the Albany, New York area with 36 providers.
- The Christ Hospital - a Greater Cincinnati hospital with 555 beds and more than 140 employed physicians. The Christ Hospital Cardiovascular Associates employs fifty of these providers while The Christ Hospital Orthopedic Associates employs another six.
"One of the greatest challenges for any medical practice's revenue cycle is to make sure claims are submitted efficiently and cleanly so payers will automatically accept and pay the claim," said Lisa Bowen, Accounts Receivable Manager of CNSA. "With Navicure, we can easily confirm where the claim stands at any time. We're confident that this new partnership with Navicure will have a positive impact on our revenue cycle."
Navicure also recently released its new appeal letters product. The solution was developed to help expedite the appeals process for denied claims. The product's first release offers pre-populated letters for 12 types of denied claims, ranging from generic reconsideration and timely filing letters to specific categorical letters. Subsequent releases this year will add payer-specific appeal letters to Navicure's suite.
"We pride ourselves on our ability to create new products that continually reinforce Navicure's value proposition-collecting more and stressing less in managing the revenue cycle. The appeal letters product addresses two major challenges to collecting earned revenue-underpayments and write-offs associated with denied claims," said Jim Denny, founder, president and CEO of Navicure. "Since every practice relies on insurance reimbursement, these letters should help speed up and increase net collections."
Strong demand for Navicure's solutions and service among leading healthcare practices and hospitals has again earned the company a ranking among the fastest growing private companies in the country, outpacing its rivals according to Inc. magazine's Inc. 5000 list for 2011. Inc. recently released in its annual list in the magazine's September issue and on its website: www.inc.com/5000.
Navicure is a leading Internet-based medical claims clearinghouse that helps physician practices increase profitability through improved claims reimbursement and staff productivity. Serving over 20,000 healthcare providers in practices nationwide, Navicure's solutions automate account receivables processes, including primary and secondary claims reimbursement; patient eligibility verification; rejected and denied claims management; electronic remittance and posting; claims and remittance reporting and analysis; and patient statement processing. Navicure's solution is supported by its unique 3-RingTM Client Service.
Navicure is a member of the Medical Group Management Association® (MGMA®) AdminiServe® Partner Network and also received Best in KLASTM distinction for the clearinghouse services market segment as part the 2010 Top 20 Best in KLAS Awards: Software & Professional Services report. Navicure earned the same distinction in 2008. KLAS is a leading source of information on healthcare information technology vendor performance. Navicure is also the founding sponsor of icd10hub.com, a free educational website devoted to making physician practices' transitions to ICD-10 and 5010 easier. For more information, please visit www.navicure.com.