INDIANAPOLIS, Jan. 6 /PRNewswire/ -- RealMed, a leading provider of web-based revenue cycle management solutions for healthcare providers, hospitals and payers, today announced a signed contract with DC-based George Washington University Medical Faculty Associates (MFA) for secure, internet-based, real-time adjudication and processing of electronic claims transactions, real-time claims editing, automatic claims status and electronic remittance advice management.
"The GW Medical Faculty Associates is regarded nationally as a leader in healthcare IT with its unique and secure Electronic Medical Records and practice management systems. We selected RealMed because it complemented our own paperless systems with real-time claims submission, comprehensive online claims editing, and a reputation for solid customer service," stated Stephen Badger, CEO of The GW Medical Faculty Associates. "RealMed will help us eliminate manual processes by submitting claim attachments and appeals electronically."
Robert Van Dyke, Regional Vice President at RealMed stated, "A recent Health Affairs study reported physician billing and insurance-related functions consume 14% of medical group revenue." Van Dyke went on to say, "With costs and overhead increasing, healthcare providers are seeing higher patient liabilities and increased receivables. RealMed has creative tools that help providers collect what they are owed by the insurance companies and patients. In fact, we were ranked 'Best in KLAS' for Claims and Clearinghouse Service in the prestigious KLAS annual report.* KLAS is an independent research firm specializing in vendor performance measurement in the software, professional services, and medical equipment categories. We look forward to working with The GW Medical Faculty Associates to further strengthen their administrative efficiency and bottom line."
The George Washington University Medical Faculty Associates will have full access to RealMed's services by the first quarter of 2010.
RealMed uses the power of the internet to automate health care transactions and information exchange between providers, payers and patients. This capability, together with more powerful reporting and workflow enhancing features, can significantly enhance administrative efficiency and dramatically improve cash flow for providers. RealMed serves professional providers ranging from one doctor practices to the nation's largest academic medical centers and specialty providers for all aspects of their revenue cycle management needs. Visit www.realmed.com
About The George Washington University Medical Faculty Associates
The George Washington University Medical Faculty Associates is an academic multi-group practice of world-renowned physicians affiliated with The George Washington University. The MFA consists of over 550 physicians who deploy the latest advances of technology and technique to treat an average 4,600 patients a day through 42 medical/surgical specialties. The MFA is on the cutting edge of healthcare IT with its unique Electronic Medical Record. The MFA EMR is paperless and efficient, and guards patient confidentiality.
*2009 Top 20 Best in KLAS Awards: Software & Professional Services report ©2009 KLAS Enterprises, LLC. All rights reserved. www.KLASresearch.com
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