LOUISVILLE, Ky., April 7, 2016 /PRNewswire/ -- MedAssist, a provider of revenue cycle solutions for hospitals, and Gaffey Healthcare, a provider of automation technology for hospital revenue cycle, today announced a partnership. The partnership enables MedAssist hospital customers a path to improve their net revenue position. MedAssist will begin leveraging the Gaffey AutoStatus technology to achieve greater efficiency in parts of the claims management process.
"Hospitals often have large volumes of insurance receivables aged 30 days and greater. Yet little information is available regarding why such claims remains unpaid," said Noel Felipe, Division President for MedAssist. "In helping hospitals collect these accounts, 20-30% of processing time is spent researching why a claim remains unpaid and how to get it paid. By utilizing the Gaffey AutoStatus technology, our team reduces inefficiencies in that work enabling more focus on value-added efforts such as working denied claims and other activities directly impacting our customers' net revenue position."
The Gaffey Healthcare AutoStatus tool automates the process of retrieving patient claims statuses in a fraction of the time of traditional, manual methods. The technology-driven data management service interfaces with payors to update electronic claims statuses, and can process large amounts of claims often during off-peak hours. The results improve business office work ﬂow by notifying collectors of what claims have been processed, adjudicated or if immediate action or follow-up is needed.
"What ultimately sets Gaffey apart is that their technology is based on their deep experience leading and operating hospitals," said Venkat Raman, Chief Executive Officer for MedAssist. "They know what it's like on the inside and how technology needs to work in a real environment. With Gaffey we elevate our capabilities, and more importantly, a path for our customers to achieve better financial results and better experiences for their patients."
"MedAssist is an exciting opportunity," said Derek Morkel, Chief Executive Officer for Gaffey Healthcare. "We all want to improve the financial patient experience. That's tough to achieve without eliminating inefficiencies in the back office revenue cycle work. MedAssist is in the trenches with their hospital customers every day. Now, armed with AutoStatus, they are better positioned to help their customers achieve better results."
The only critical buying decision people make today where they don't know the price or how they will pay is healthcare...even if they have insurance. Everything that goes into the non-clinical part of the patient experience is a complicated maze of financial traps and hoops...for both patients and hospitals. Hospital leaders rely on us to simplify the financial experience for both their patients and the people of their organization. Hospitals achieve a stronger financial foundation, while patients experience clarity and a path to peace of mind about how to pay for their care. Happy patients are loyal customers. And loyal customers tell their friends and family about their good experiences. That leads to new market share for the hospital...the kind of market share no financial software can create nor any marketing budget can buy. www.medassistsolutions.com https://twitter.com/MedAssistSol
About Gaffey Healthcare
With over four decades of experience in healthcare operations and purpose-built, data-driven technology solutions, GAFFEY Healthcare remains focused on one primary goal – to improve the financial performance of healthcare providers. From Patient Access & Eligibility through Billing, Claims Management to Collections - all the way to Payment Verification and Integrity - the components of our software are all tied together through our workflow automation and business intelligence platform, GAFFEY AlphaCollector™. It is important to realize that there is a difference when you do business with GAFFEY Healthcare. Our customers recognize it and are loyal because of it. www.gaffeyhealth.com, https://www.facebook.com/gaffeyhealth, https://twitter.com/GAFFEYHealth
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