With the recent 10.6% Medicare payment reduction scare and ever increasing cost pressures in rehab, we need to ensure that therapists are getting the money owed to them from payers
New Haven, CT and Memphis, TN (PRWEB) September 2, 2008
Chart Links, LLC a provider of rehabilitation workflow management software, and RemitDATA, Inc., a leading provider of web-based productivity tools and benchmarking reports to the outpatient healthcare market, have partnered to offer reimbursement tools and benchmark data to physical therapy, occupational therapy, speech-language pathology and audiology practices. The claims data will be aggregated and analyzed from a web-based suite of management reports and work flow tools that the therapist will use alongside any existing practice management or billing system. By allowing therapists to identify and reduce denials and underpayments from electronic remittance advice, the solution will make therapy practices more profitable. It will also allow them to compare reimbursement data against regional and national averages.
"With the recent 10.6% Medicare payment reduction scare and ever increasing cost pressures in rehab, we need to ensure that therapists are getting the money owed to them from payers," says James Hammer, chief operating officer at Chart Links. "Our decision to partner with RemitDATA is based on the ability of their products to pick-up where most practice management systems leave off. These tools analyze claims data directly from payer electronic remittance advice (ERA) versus data posted into the billing system. This gives therapists greater insight into denial rates, by payer, as a means of recouping reimbursement. It also allows them to compare their denial rates against their peers nationwide. We can all learn from that to develop best practices."
"Over the coming months, we'll be able to unveil the first ever comprehensive third-party analysis of rehabilitation payment trends," says Michael Sanderson, president of RemitDATA. "Our simple, easy-to-use web-based tools and patent-pending benchmarking reports will provide state, regional and national data on which rehabilitation procedure codes are getting denied most often, by which reason code and by payer. As a direct result of our solutions, therapists will be able to enhance their profitability and drive down the costs of healthcare."
To see a 20-minute demo of the product, therapists can call Chart Links at 888.369.0707 or go to Chart Links Physical Therapy Reimbursement. The product will also be exhibited at booth #512 of the American Physical Therapy Association's Private Practice Section Annual Conference and Exposition on November 5-8, 2008 at Loews Royal Pacific in Orlando, Florida.
About Chart Links, LLC
For 14 years, Chart Links has developed rehabilitation software that automates workflow for referrals, insurance authorizations, cross-discipline scheduling, documentation, charges, and more. Chart Links allows medical rehabilitation facilities to be more efficient and to provide a higher quality of care by delivering results in the areas of compliance, outcomes, analytics and reimbursement analysis.
Founded in 2000, RemitDATA, Inc. helps 8,500+ health care providers improve practice profitability by delivering web-based tools to accelerate cash flow and streamline the reimbursement process. Our easy-to- use web-solutions work alongside ANY practice management system to eliminate payer denials/underpayments, increase workflow efficiencies and maximize revenue. With a low, annual subscription fee, RemitDATA's tools are guaranteed to work and include powerful patent-pending, custom-benchmarking reports that compare provider's operational performance against real-time industry data each quarter. Because RemitDATA's analytics and tools are web-based, we promise our clients: "No software, no servers, and no hassles." Based in Memphis, TN, the Company enjoys a 95%+ client renewal rate.
For more information:
(203) 624-3844 or Chart Links
(214) 451-2714 or RemitDATA