CHELMSFORD, Mass., April 24, 2012 /PRNewswire/ -- Datawatch Corporation (NASDAQ-CM: DWCH), the leading global provider of report analytics products and services, is announcing a new report analytics solution strategy, Report Analytics Industry Links (RAILs), with the first available solution designed to significantly improve access to and analysis of 835 EDI files for healthcare organizations. Datawatch's RAIL for 835 Analytics is powered by the Monarch Report Analytics platform.
RAIL for 835 Analytics will enable healthcare provider organizations to fully utilize the data trapped in 835 EDI files. Analyzing the data delivered in 835 files is a vital component of healthcare organizations' revenue cycle management activities, especially as performance management becomes more important for the healthcare industry.
"We receive a large volume of EDI 835 remittance files from multiple insurance payers on a regular basis," said Chuck Alsdurf, director, financial planning, Maine Medical Center. "These 835 remittance files contain a wealth of information on the status of claim payments and denials. The new RAIL for 835 Analytics will enable us to easily and efficiently get this information, which will significantly improve our patient cash receipts tracking."
RAIL for 835 Analytics will benefit healthcare organizations by:
Providing dashboards to show and analyze total paid amount, denied claims, denied claims by reason code, inpatient vs. outpatient and more, with the ability to drill down into further detail;
835 data segmented by individual claim numbers; and
Submitter views for numbers of remittance files by month or payor, transaction views by month, 835 summary by payor or by month; and additional detailed views.
"Healthcare organizations of all sizes struggle with 835 remittance files and providing timely and efficient reporting and analytics on the wealth of information contained in these files," said Paul Constantino, director, healthcare solutions, Datawatch. "Datawatch's first industry solution, RAIL for 835 Analytics, provides an easy, efficient and affordable way for healthcare organizations to enable detailed analysis of 835 data in their revenue cycle management activities. This out-of-the-box solution leverages Datawatch's unique ability to access semi-structured and loosely structured data sources without the need for complex middleware or databases."
About Datawatch Corporation Datawatch Corporation (NASDAQ-CM: DWCH) empowers organizations to transform the massive amounts of valuable information that is trapped in static reports, PDF files, HTML and other content-rich, but difficult-to-use data sources, into a dynamic information analytics system that accelerates and improves decision-making throughout their operations. Datawatch's technology allows its more than 40,000 customers worldwide to leverage the investments they have made in reports from ERP, CRM and other custom applications into a high performance analytic information system at a fraction of the cost and time of traditional approaches. Datawatch is headquartered in Chelmsford, Massachusetts with offices in London, Munich, Sydney and Manila, with partners and customers in more than 100 countries worldwide. For more information, visit www.datawatch.com.