TORONTO, June 6, 2016 /CNW/ - Syncordia
Technologies and Healthcare Solutions, Corp. (TSXV: SYN)
("Syncordia" or the "Company") today announced the implementation
of its proprietary Claim Editor, a workflow automation tool
designed to minimize errors while maximizing payment rates in
submitting medical billing claims and decreasing the time to input
claims by more than 2.5 times.
The Claim Editor, is one in a series of "Syncordia
Cloud/Platform" forthcoming products. Michael Franks, CEO of
Syncordia says "Claim Editor (patent pending) is a revolutionary
claim intake module that will coordinate and facilitate the input
from client systems into various billing systems. This intake tool
will create efficient, low touch claim entry presentation workflow
in the market, while simultaneously ensuring the claim records it
creates are error free. For Syncordia clients this translates
into the maximum reimbursement and payment speed while increasing
its revenue streams for its portfolio companies. We are also now
laying the ground work for a SaaS offering for the Syncordia Claim
Editor"
Chris Martin, Chief Strategy
Officer of Syncordia says "Creating medical claims for billing is a
labor intensive process and can be prone to errors. Typically,
paper documents have to be manually scanned, viewed, and manually
entered into a billing system, after the records have been manually
quality assured and eligibility verified. Electronic records,
especially NEMSIS-compliance files can be sent into the billing
systems but the mapping is also labor intensive and dependent on
the billing systems used." The Claim Editor addresses both of these
short comings with:
- Integrated Eligibility Verification through the Claim
Editor
- Automated claim entry directly to the billing systems
- Efficient UI and flow
- Intelligent rule engines with on-the-screen auto-QA and alerts
to minimize data entry and maximize pay rate
- Automated data imports
Full features of our Claim Editor will include:
- NEMSIS and non-NEMSIS file automated import
- Billing System Independent
- Automated Eligibility Check
- Automated QA and Onscreen Alerts
- Role-based Engine and Workflow
- Integration with Document Management System
Andy Tran, Chief Technology
Officer of Syncordia says "Claim Editor release is consistent with
Syncordia's vision of full proprietary ownership of the revenue
cycle management software supply chain for the benefit of customers
and shareholders."
About Syncordia Technologies and Healthcare Solutions,
Corp.
We are a technology enhanced revenue cycle management
("RCM") company focused on underserved niche segments of the
healthcare industry. We are focused on using our proprietary
software suite as an accelerator for growth. We are building a
diversified software and services business by consolidating
healthcare billing providers. Our growth strategy is to acquire RCM
businesses with and without software and, improve their
profitability by increasing revenues and operating efficiencies
using our software, and in time, commercializing the Syncordia
Cloud, our cloud-based software offering, to provide customer
demanded turn-key solutions from a single provider and to address
compelling RCM market opportunities.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statements
Certain statements herein may be "forward looking" statements
that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or
achievements of Syncordia or the industry to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Forward
looking statements involve significant risks and uncertainties,
should not be read as guarantees of future performance or results,
and will not necessarily be accurate indications of whether or not
such results will be achieved. A number of factors could cause
actual results to vary significantly from the results discussed in
the forward looking statements. These forward looking statements
reflect current assumptions and expectations regarding future
events and operating performance and are made as of the date hereof
and we assume no obligation, except as required by law, to update
any forward looking statements to reflect new events or
circumstances.
SOURCE Syncordia Technologies and Healthcare Solutions,
Corp.