RemitDATA Launching Focused Comparative Analytics Solution for HME Market at Medtrade Technology offers Home Medical Equipment providers a strategy for addressing the burdens of competitive bidding, high denials and government audits
PLANO, Texas, Oct. 12, 2012 /PRNewswire/ -- RemitDATA Inc., the healthcare industry's leading provider of comparative analytics for provider productivity and financial data, today announced that it is expanding its market for TITAN® to the Home Medical Equipment (HME) marketplace with a launch at Medtrade 2012 in Atlanta, Georgia.
"Because of our long history in the Home Medical Equipment market, we understand providers are under tremendous pressure to participate in competitive bidding and better manage audits from a myriad of government programs," stated Michael Sanderson, president, RemitDATA. "With TITAN, HME companies now have access to real-time comparative analysis that enables them to prepare for and cope with competitive bidding, high denials and government audits that, if not managed properly, can have serious implications for the survival of a business."
TITAN, a first-of-its-kind data-rich solution that provides a level of reimbursement and utilization comparative analysis only available previously to payers, Medicare and regulators, was launched nearly two years ago to provide real-time analytics for physicians and billing companies. Since that time, TITAN has been adopted by some of the largest healthcare IT companies in the industry.
TITAN continues to be the only solution in the ambulatory and HME/DME markets offering real-time comparative analysis and custom benchmarking that enables providers to compare themselves against their peers based on specialty and geography. Through robust data analysis, providers also have access to key business indicators needed to identify focus areas such as how to accelerate cash flow, lower denial rates, track payer performance and correct billing errors.
"We realized that the needs of the HME market are no different than other healthcare providers in that they stand to benefit most when data is available in real time and easy to view, understand, use and share," Sanderson noted. "For over a decade, we have provided HME companies with valuable document management and denial management solutions. Now, we're providing them the comparative analytics they need in order to successfully enter the competitive bidding process and to track their claims and utilization to better prepare for government audits. No other company in the HME/DME market can offer the breadth and depth of data necessary to power these comparative analytics."
Providing Insight into Key Business Metrics
First Choice Home Medical Equipment, an East coast-based leading provider of home medical products and services, selected TITAN to provide a real-time, transparent view into the company's essential business metrics. Looking forward, the company plans to utilize the solution's comparative analytics data extensively. "We implemented TITAN because of its ability to crunch large volumes of data so we could go much deeper into our reporting," explained Craig Rotenberry, managing partner, First Choice. "Also, benchmarking is an essential part of any business and TITAN lets you know how you stack up against other businesses," he added.
Founded in 2000, RemitDATA Inc. helps more than 100,000 healthcare providers improve revenue and cash collections by identifying and correcting performance issues in the post-adjudication stage of the revenue cycle. The company provides a range of system-agnostic solutions with patented, proprietary technology offered in Software as a Service (SaaS) form for immediate value-add implementation, resulting in a faster return on investment. The end result is more enlightened providers with better educated practice management teams, improved employee productivity and increased profitability. Based in Memphis, Tennessee, and Plano, Texas, the company has enjoyed a more than 90 percent client renewal rate since its inception. For more information, please visit www.RemitDATA.com.
Visit RemitDATA in Booth #2269 at Medtrade
SOURCE RemitDATA Inc.