ORLANDO, Fla., March 21, 2016 /PRNewswire/ -- CollaborateMD (CMD), a leading provider of innovative and intelligent cloud-based revenue cycle management solutions, is making Real-Time Claim Submission and Editing (RT-CSE) a reality for customers with their highly anticipated Spring software release.
Very soon, customers of CollaborateMD will be able to submit individual claims or batches for immediate clearinghouse processing and have tens of thousands of edits performed on the claims. In essence, RT-CSE makes CollaborateMD and the clearinghouse appear as one.
Benefits of Real-Time Claim Submission and Edits are:
- Faster reimbursement
- Faster submission
- Faster error notification
- Faster error correction
Currently, medical offices enter healthcare insurance claims throughout the day and must wait until the next morning to determine if the claims passed and were sent to the insurance payer. With CollaborateMD's new software version, an office will enter a claim at any time and get the edit results immediately. If the claim passes the edits, it will be on its way to the insurance payer. If there is an issue, the office can fix any errors and repeat the process. At the end of the workday, offices will have the peace of mind that all claims will get to the Payer.
The current method of medical claim submission is similar to going to an ATM, entering the PIN and the amount to withdraw, and having to wait until the next morning to the transaction was success and the money presented.
"Some of these archaic processing methods have been around for 30 years and don't make sense anymore," said Douglas Kegler, CEO and Founder of CollaborateMD. "There is so much software intelligence and processing power today, we (healthcare) need to capitalize on it. This is the first of many steps forward."
For more information on CollaborateMD, please visit http://www.collaboratemd.com
Since 1999, CollaborateMD's innovative and intelligent cloud-based revenue cycle management software solutions have contributed to the financial and operational success of medical practices and medical billing services across the country. CollaborateMD's Windows and MAC solution, with its simplicity, intelligence, and phenomenal support, is used by thousands of medical providers and has processed over 29 billion worth in medical claims.
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