AmeriVeri Helps Assure Accurate Medical History and Claims, Protect Provider Networks, and Save Money

GREENWOOD, Ind., June 2, 2015 /PRNewswire/ -- Medical coding errors are costly for everyone involved, yet they remain disturbingly common even in this age of electronic medical records. Reducing those costs and assuring the accuracy of patient records is the mission of AmeriVeri (http://www.ameriveri.com/), a healthcare technology firm with an innovative, proprietary solution to the ongoing challenges of medical coding and billing.

Founded in 2010, AmeriVeri's software-as-a-service solution represents the input of 42 healthcare technology experts. "Existing software generally only checks code validity, so other types of errors can still enter the system. We go well beyond checking that a particular code is valid," explained Claims Management Team Leader Steffeny Brewer. "Our solution determines whether the specifications for a particular code actually exist and that diagnoses and procedures are appropriately matched."

AmeriVeri boasts the computing resources to process every major medical, group health, workers' compensation and Medicaid claim made in the US on any given day, verifying code accuracy at the rate of one million claims every 25 minutes. Should a line be rejected, the system provides specific reasoning, streamlining any manual editing work. Turnaround time for a typical batch of claims is one hour from submission to return. Implementing AmeriVeri's solution is simple, and data is encrypted during transmission as well as when static.

In an investigation into the architecture of healthcare billing, the Cleveland Plain Dealer reported that roughly 250 people have a hand in creating a single hospital bill. That's 250 opportunities for errors to be introduced, and these errors not only cost time and money but also negatively impact quality of care.

Government payers are just as vulnerable to coding and billing errors. According to Medical Economics magazine, Medicare claims for evaluation and management in 2010 had an error rate of 42%. As a result, the federal government paid out $6.7 billion for incorrect codes. The Medicaid error rate may be even higher; therefore any improvements to the verification process should result in substantial savings.

AmeriVeri is available as an added service to Payers including both TPAs and Insurance Companies, and Employers benefit by helping to assure Continuity of Care and by not paying for improperly coded services. Because healthcare costs as a portion of labor costs have been on a steady climb, any opportunity to increase efficiency is certainly attractive. Payers, meanwhile, benefit from protecting their provider network, and by generating an additional revenue stream.

AmeriVeri's software-as-a-service solution is flexible and adaptable to the needs of end users. The software can be inserted at any point in the claims processing workflow. Rather than replacing an existing step, AmeriVeri provides a seamless extra layer of certainty and security – a valuable asset in the event of an audit. The software can likewise scale rapidly to handle volume increases. Medical office staff, meanwhile, can spend less time editing documentation and more time delivering patient care.

Added Brewer: "The ready availability of medical records has meant that patients are more involved with their care than ever, and that trend is only going to continue. AmeriVeri offers patients a new level of assurance that their records are true representations of care provided."

About AmeriVeri

AmeriVeri CR, LLC was founded in 2010, and fee options include Percentage of Savings and Flat Rate. The company is privately held with offices located in Greenwood, Indiana, and Chicago, Illinois, and provides nationwide services in the Major Medical, Workers' Comp and Medicaid arenas.

Contact:

Jim Baughman, CEO
888.354.8776, Ext 701
Email

SOURCE AmeriVeri

Related Links

http://www.ameriveri.com