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Medicare-and-The-Mystery-of-Collecting-Patient-Responsibility

Collecting From Medicare Patients at Time of Service?

The government has trained practices (the little guys) to be extremely cautious about making a misstep with Medicare patients. That is certainly their intention – to let you know that they have a zero tolerance policy on doing anything that could be construed as taking advantage of Medicare patients or the Medicare program itself.
Sometimes the way the government manages behavior is by being “silent” on what is acceptable.

The question is:
“Can I collect Co-pays, co-insurance and deductibles from Medicare patients prior to services being rendered?”

The answer is yes! They are estimated or calculated patient responsibility payments based on Medicare (or payers) published or contracted reimbursement rates, patient eligibility and benefit information available from Medicare (or Payer). Refer to “CMS Claims Processing Manual, Section 30.3.3.”

30.3.3 – Physician’s Right to Collect From Enrollee on Assigned Claim Submitted to Carriers
(Rev. 1, 10-01-03)
B3-3045.2

A. Before the Claim is Submitted
The provider (including physicians and suppliers) who is accepting assignment should not attempt to collect more than 20 percent of the charge from the enrollee when the deductible has been met:

However, a provider (including physicians and suppliers) may accept assignment after having collected a part of his/her bill. The fact that the enrollee has paid more than any deductible and coinsurance due does not invalidate the assignment.

B. Showing the Amount Collected on the Claims Form
In submitting an assigned claim, the provider (including physicians and suppliers) must show on Form CMS-1500 any amount he/she has collected from the enrollee for these services. This information is essential for correct payment of the benefits due; failure to show the amount paid is likely to result in excessive benefit payment to the provider (including physicians and suppliers) (i.e., if a benefit payment which, when added to the amount already paid by the enrollee, will exceed the Medicare allowed amount).

So, Medicare does allow you to collect the patient’s portion (co-insurance and deductibles) at the time of service. However, practices should have a formal process that assures a uniform and reliable methodology of determining the calculated or estimated patient portion.
Note the Medicare Claims Processing manual says that you can’t collect more than the patient owes – and if you do inadvertently, you must refund it promptly. It EXPLICITLY says that you can collect co-insurance and deductibles at the time of service. It’s acceptable if you have calculated the patient’s responsibility. To do this, you must have a process in place that assures a prompt refund if there are any overpayments.

Do not call these payments a “deposit”. Medicare does not allow you to collect a “deposit”. Then again, these payments are not arbitrary deposit amounts. They are calculated estimates of the patient’s out-of-pocket responsibility, based on published Medicare “allowed amounts” and “patient eligibility information” provided by Medicare.

Having Trouble with Patient Collections?
If your practice is struggling with what to collect at time of service, ask Exchange EDI about Automated Patient Settlement (APS) using an Account on File agreement. An account on file agreement allows your practice to automatically process the exact patient responsibility that is identified on the Medicare EOB. In addition, put the patients mind at ease by letting them know their debit or credit card is stored on a tokenized, secure, encrypted card processor server.

So stop sending statements and start getting paid within fifteen days (15) after the date-of-service. Now you can be in control of when you receive patient payments.

Reduce statement costs. Increase cash flow. Minimize bad debts and save staff time.

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ICD-10 READY-SET-False-Start

ICD -10
READY! SET! GO?
By: B. P. Fulmer; Managing Partner, Exchange EDI

Good News, delay of this cash flow crisis gave us another year to put you financial house in order. Bad News, regardless of this delay, the result will be the same. Payers will not be fully prepared. There will be adjudication rules and edits that will not be properly communicated. It’s not a conspiracy. It is a fact of life due to the complexity of changes that will have to be made in the payer claims processing systems. This means your cash flow will be interrupted.

For practices, making operational and clinical workflow changes, re-allocation of resources (human and capital), cross-walk coding changes, billing and denial management process changes probably won’t be enough. Much, but not all, of the cash flow issue will be out of your control.

THE DOUBLE WHAMMY!!!
1. Because each payer will have its’ own proprietary payment rules for ICD-10 claims, and they will likely differ from ICD-9 rules, the result will be some potentially significant denial, rejection and payment error rates. Learning new payment rules for each payer will take time, and will be a process of “Trial and Error” because payers typically do not publish all these rules.

2. Ninety days after October 1, 2015 implementation deadline date deductibles will reset, compounding an already crippling blow to cash flow. Together the cumulative effect could result in a 50% or more reduction in normal cash flow through the first quarter of 2016 and possibly beyond..

Unfortunately, even if you have done everything right, but your payers struggle to pay claims promptly and correctly, you still have a good chance of becoming a statistic if you don’t have control of you cash flow resources.

At this point the most important action you can take is to start “Pro-actively” managing cash flow! CASH FLOW is KING and it is the only fuel, on which, every business must run.

Ask yourself: “What are my sources of cash and how much do I need?”

Cash Sources:
• Payer payments
• Patient payments
• Aged patient accounts receivable clean-up
• Cash reserves in the bank (As of 10/1/2015)
• Bank operating Lines of credit

How Much Do I Need?
• Four months of working capital
(The most conservative definition of needed working capital is: “How much cash is needed to pay all operating expenses and payrolls for four months. Assume cash receipts from payers beginning November 2015 through April 2016 will be reduced 50%. Do the math!!)

The operative assumption is this ICD-10 Tsunami will adversely affect the flow of payments from your payers. If you remember the effects of the conversion to HIPAA X-12 transaction formats in 2003 and more recently the conversion to 5010 you understand the risk. ICD-10 could be much worse.

What You Do and Don’t Have:
• You have no control whether or not your payers will have their act together.
• You do have more control over setting up credit lines
• You have precious little time to build cash reserves
• You can implement proactive patient responsibility cash flow management practices. Get professional help. Patients really don’t mind paying for services. They pay at the time of service everywhere else, why not you. (Accelerate, Accelerate, Accelerate!!!)

What’s the Solution?
The reality is there is no single solution that fits the requirements of all practices. But here are some actions every practice can take to mitigate the inevitable ICD-10 cash flow risk:
1. Determine how much cash you need to operate your practice for four (4) months.
2. Assume only fifty per cent (50%) of the normal cash flow from your payers for four months.
3. Estimate the cash reserves you expect to have on hand by October 1, 2015. You should have about four months of operating capital
4. Thirty per cent (30%) or more of your cash flow now comes directly from your patients. Implement internal policies to collect co-pay, deductibles and co-insurance at or before the time of service. Strictly enforce these policies. That includes your staff as well. NO EXCEPTIONS!!!
5. Clean-up your patient aged accounts receivable and keep it clean.
6. Begin aging accounts receivable from the date-of-service, not the date of the first statement. When you look at days in A/R, separate payer and patient receivables. Payer A/R should average less than thirty (30) days from the date-of-service. Patient receivables should average less than forty (40) days from the date-of-service. Sounds impossible? It’s not! It is good business.

Three Simple Actions:

• Develop a cash flow management plan.
• Implement it.
• WORK IT. NO EXCEPTIONS!

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Internet Site Privacy Policy

Exchange EDI
Privacy Policy
This online privacy policy tells you about the information Exchange ED, LLC. (“Exchange EDI”) collects through the services available on our web site, www.ExchangeEDI.com (the “Site”), how we use that information, whether we disclose it to anyone, and the choices you have regarding our use of, and your ability to correct, that information.
By using our services and accessing our Site, you are consenting to the information collection and use practices described in this policy, as modified from time to time by us. If we decide to change our privacy policy, we will post a new policy on our Site and change the date at the top of the policy. Therefore, we encourage you to check the date of our privacy policy whenever you visit this Site for any updates or changes. Please see our Terms of Use for a more detailed legal explanation of our general online policies.
If you have any questions about our privacy policy or our use of your information, or if you need help changing or deleting your www.ExchangeEDI.com account, you can e-mail us at www.info@Exchange EDI.com.
We collect several types of information on our Site. We collect “Personal Information”, which generally speaking is information that can be used to identify you individually, such as your name, company affiliation and e-mail address. We also collect “Non-Personal Information”, which is information about you that does not itself identify you individually. Examples of Non-Personal Information include the type of browser you are using (e.g., Internet Explorer) and the type of operating system you are using (e.g., Windows XP or Mac OS). We also collect “Aggregate Information”, which is information about use of our Site, such as pages visited on our Site. The information we collect depends on what services you use on our Site. The following is a more detailed explanation of these types of information as well as when and how we collect and use it.
Registration Data
When you register on our Site, we may collect various kinds of Personal Information including your name, company affiliation, e-mail address, business address, and phone number. We also collect and store access information related to your account including user name and password.
Surveys
From time-to-time we may post surveys on our Site. The surveys may request demographic information (such as geographic location, areas of interest, and familiarity with Exchange EDI products and services) and customer feedback. Participation in these requests is completely voluntary and with each request you will have the choice of whether or not to disclose information. Such survey information will be used to improve the overall experience on www.Exchange EDIInc.com.
Customer Service Correspondence
We may keep a record of your correspondence or comments, including information that identifies you personally, when you submit comments, questions or suggestions to our Customer Service department. We use this information to help us provide better service in the event you contact us again.
This Privacy Policy
This Privacy Policy does not apply to content, business information, ideas, concepts or inventions that you send to Exchange EDI by email. If you want to keep content or business information, ideas, concepts or inventions private or proprietary, do not send them in an email to Exchange EDI.
Resumes
If you are interested in applying for a job with Exchange EDI, we may collect your resume. Resumes you submit for job applications will not be used for marketing purposes.
Use of Your Personal and Non-Personal Information
Except as disclosed in this policy, we do not sell or disclose information that identifies our users personally or makes it possible for other parties to contact them directly without our users’ consent. However, we may use, sell, disclose, or otherwise dispose of Personal Information we collect in the following circumstances:
Internal Analysis and Promotions. We may use information about you for our own internal statistical, design, operational purposes such as to estimate our audience size; measure aggregate traffic patterns; and understand demographics, customer interest, and other trends among our users. We may also use your Personal Information for the marketing and/or promotion of our products or services. We may outsource all of these tasks to third parties on a confidential basis. If you do not want to receive our promotional materials, you may e-mail your preference to us at info@ExchangeEDI.com.
Co-Branded/Third Party Service Offerings. We may share this information with certain businesses with whom Exchange EDI has agreements or alliances. You may be able to identify these businesses because Exchange EDI has authorized them to display co-branded Web pages or links to Exchange EDI. If you do not want to have your personal information shared with these businesses you may e-mail your preference to us at info@ExchangeEDI.com.
Third Party Offers. We may arrange to have marketing and promotional information of other companies sent to you that we think might be of interest to you. If you do not want to receive these materials, you may e-mail your preference to us at info@ExchangeEDI.com.
Legal Requirement. We may disclose personal information if required to do so by law or in the good-faith belief that such action is necessary to:
conform with the law, respond to claims or comply with legal process served on Exchange EDI or the Site; or,
protect and defend our rights or property, the Site, our employees, users or the public.
Company Sale. Information collected through our Site is considered the property of Exchange EDI. As the owner of such information, we may disclose or sell such information as an asset of the company in conjunction with the sale to a third party of our company or a portion of our assets.
Protecting Children Online
We do not knowingly solicit information from or market information to children. Our Site is aimed at businesses users and is not designed nor intended to collect Personal Information from children under the age of 18.
Aggregate Information
We collect Aggregate Information about you and your use of our Site whenever you visit us online. For instance, we may collect various forms of “click stream” information such as entry and exit points for our Site (i.e., referring URLs or domains), site traffic statistics, page views, impressions, and operating system and browser type. In addition, when users request pages on our Site, our servers automatically log their IP addresses. An IP address is a number that is automatically assigned to your computer whenever you are surfing the Web.
This Aggregate Information generally will not personally identify you or be correlated to you individually for external purposes. We may collect, compile, store, publish, promote, report, sell, or otherwise disclose or use any and all Aggregate Information, provided that such information does not personally identify you. When we share such information with other companies, it is not traceable to any particular user, and will not be used to contact you. If we do correlate any Aggregate Information to you, such information will be treated like any other Personal Information under this policy.
Cookies
We may make use of “cookies” on our Site. Cookies are small text files that are stored on a user’s computer by a Web server based on the permissions set in a user’s browser software. A cookie itself is not designed or intended to read any information from a user’s computer (other than the contents of the cookie); rather, it is an identifier used by the Web site that originally placed it on your hard drive. The actual contents of the cookie information can be retrieved by the same server to identify the computer and subsequently to customize, monitor, or regulate the use of a site based on information stored on the host server. Therefore, cookies only identify the user’s computer to the Web site which may correlate other information, including personally identifying information, with the cookie.
We use cookies to allow us to automate access and data entry functions of our Site (such as login information), tailor the Site to your preferences or interests, or customize promotions or marketing. In addition, cookies allow us to track use of the Site to determine those areas which are useful or popular and those that are not thereby enabling us to improve and update the Site effectively.
You may adjust your Web browsers to either alert you of the use of cookies or refuse to accept cookies entirely. Be aware that if you elect not to accept cookies, some parts of the Site may not function properly or permit access.
Links to Other Sites
Please be aware that we provide links to third party Web sites as a service to our users, and that we are not responsible for the content or information collection practices of those pages. Please note that these Web sites’ privacy policies may differ from those of Exchange EDI. These other sites may send their own cookies to users, collect data, or solicit personal information. We encourage you to review and understand their privacy practices before providing them with information.
Security
We use commercially reasonable efforts to store and maintain Personal Information to protect it from loss, misuse, alternation or destruction by any unauthorized party. Despite our efforts to protect your Personal Information, there is always some risk that an unauthorized third party may find a way around our security systems or that transmissions of your information over the Internet may be intercepted.
Opting-Out of Exchange EDI Materials
If you do not want us to use your email address for our own marketing or promotional purposes, you can remove yourself from our e-mail list at any time by e-mailing your preference to us at info@ExchangeEDI.com.
Third Party Materials
As described above, we may arrange to have other companies’ marketing materials sent to you. If you do not want to receive these materials you may e-mail your preference to us at info@ExchangeEDI.com.

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Exchange CONXIT Announcement

ConXit Healthcare Technology Group Partners with Exchange EDI to Launch Integrated Healthcare Cash Management System for Healthcare Providers

Integrated patient payment solutions enable providers any size, practice or organization to increase patient payments

PINEVILLE, NC and TALAHASSEE, FL (March 5, 2015) – CONXIT, the leading provider of high quality EHR and Practice Management solutions, RCM services, hosting and a wide range of related products and services to physician practices nationwide has partnered with Exchange EDI, the leading Healthcare Payments Network, to offer integrated patient payment solutions to enable providers to increase payments from patients by simplifying the payment process.
ConXit patient payment solutions enable providers in medical practices, billing systems, hospitals and health systems to send automated, interactive notifications of balances owed to patients and allow patients to make payments with convenient payment options with their Patient Estimation software. Leveraging the Exchange EDI Network, all patient payments post directly into patient accounting systems to streamline the end-to-end patient payment process. As a result, providers reduce patient bad debt, collect patient payments sooner and reduce the time and costs to collect.
“Cost effective methods of collecting outstanding balances from self-pay patients is one of the greatest challenges facing healthcare providers today,” said Shawn Miller, CEO of ConXit. “By partnering with Exchange EDI, we enable healthcare organizations to maximize revenue retention by using fewer resources to process, post and reconcile patient payments. Additionally, we improve the payment experience for patients by offering convenient payment options.”
“As healthcare consumerism continues to rise, the number of self-pay patients is increasing rapidly, and providers need to increase their focus on collecting from their patients,” said Gray Mason, Sr. Vice President of Exchange EDI. “We are excited to power ConXit clients with integrated, healthcare-focused payment tools to collect efficiently from their patients.”

About ConXit Healthcare Technology: provides medical practice software, services and support to physicians in ambulatory care settings nationwide. Our solutions include: Electronic Health Record (EHR)/Practice Management (PM) systems, Revenue Cycle Management (RCM) services, Cloud-Based Hosting, and Faxing/Scanning software.
ConXit delivers high-touch customer service to make your transition to your new EHR/PM system and RCM services as effortless as possible. Through our personalized approach, we pride ourselves in providing superior, world-class customer support. Visit ConXit on the web at www.conxit.com.
About Exchange EDI: Founded in 2009, Exchange EDI is focused on developing and delivering intelligent technology solutions to the healthcare provider market that integrate healthcare and financial transactions into a single process, delivering real-time information and settlement that accelerates the patient cash flow management process while reducing costs and securing accurate payment from payers. Visit Exchange EDI on the web at www.exchangeedi.com.

ConXit Contact: ? Ashley Taylor ? (877) 998- 4227
Ashley.Taylor@conxit.com

Exchange EDI Contact: ? Gray Mason (734) 454-6664? Gray.Mason@exchangeedi.com

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Exchange EDI 2013 Record 2nd Qtr Growth

Exchange EDI Reports 2nd Quarter Record Growth

Tallahassee, FL (PRWEB) August 5, 2013

Exchange EDI. LLC, a leading healthcare cash flow management technology company, reported a record breaking 2013 second quarter growth rate of 190%.

In a statement released by B. P. Fulmer, Managing Partner of Exchange EDI, he stated, “We are very gratified with the performance of the company during 2013. Second quarter performance not only continued a consistent quarter over quarter growth pattern, it established an accelerating growth rate.” He commented the accelerated growth rate was due to the introduction of “Direct Payer Audit”, a payer underpayment monitoring and recovery service released in third quarter 2012 and sales growth of the company’s patient cash flow management tools.

Exchange EDI has defined a strategic market niche by developing techniques and operating platforms emphasizing the importance of accelerating and controlling cash flow in healthcare practices – starting at the point-of-care. The objective is to truncate the traditional revenue cycle management process as much as possible.

Daryle Johnson, Executive Vice President of Business Development and Marketing commented, “We expect to see this growth pattern continuing through 2013 and 2014. With the release of Automated Patient Settlement (“APS”) this fall, we expect continued record breaking growth in our service and product lines. Also, expect to see the announcement of another “ground breaking” patient cash flow management service.”

About Exchange EDI, LLC:
Founded in 2009, Exchange EDI is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering information at the point-of-care to accelerate the cash flow management process while reducing administrative
costs for providers and securing accurate payment from payers.

Contact

Daryle Johnson
Exchange EDI, LLC
PH: 214-335-4424
Email: Daryle.johnson@exchangeedi.com

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Exchange EDI PPS Atlantic Press Release

Exchange EDI Announces Strategic Partnership with Priority Payments Systems Atlantic

Exchange EDI, LLC, a leading healthcare cash flow and payments management company announced today a strategic distribution relationship with Priority Payment Systems Atlantic, a leading professional association payments management services distributor.

Tallahassee, FL (PRWEB) August 28, 2013 — Exchange EDI, LLC, a leading healthcare cash flow and
payments management company announced today a strategic distribution relationship with Priority Payment Systems Atlantic, a leading professional association payments management services distributor.

“I am pleased to announce that Exchange EDI and Priority Payments Systems Atlantic have entered into a strategic distribution relationship that leverages the market presence and distribution channels of both companies,” stated B. P. Fulmer, Managing Partner of Exchange EDI. “Of particular interest to me is, while both companies are engaged in fostering payment processing and settlement efficiencies in the healthcare market, we have a common objective of changing paradigms, not just making incremental changes around the margins.”

Alan Brandfon and Scott Einiger, Partners of Priority Payment Systems Atlantic added, “ACMP” (Association Channel Medical Program) is the platform we are using to develop the healthcare professional association market as a distribution channel to deliver a set of proven cash flow management tools for the out- patient healthcare market. The services encompass patient responsibility settlement at the point-of-service, auditing of insurance payer under payments, patient benefit verification, and a lowering of all payment processing costs. The combined result of this program increases the profitability of the average practice by 7% to 12% without seeing any additional patients and without adding any additional staff. ACMP is the product and vision of a group of health care market professionals that set out to structure an effective solution designed for healthcare providers that, with the support of their professional associations, simplifies and manages payer cash flow control and patient settlements automatically.”

Mr. Einiger, has spent 27 years as a healthcare professional directly focusing on insurance payer under payments. Scott believes that the combination of efficiently lowering payment processing costs by Priority Payment Systems Atlantic and the groundbreaking technology implemented by Exchange EDI, will be a gamechanger in the Medical industry. Scott has extensive experience, and close relationships with medical associations and medical societies, and states that the demand and commitment for this product has been tremendous.

Mr. Brandfon continued, “We have engaged Exchange EDI as our technology and servicing partner. What is particularly exciting for us is that we have a shared vision of change. Their decades of experience in healthcare transaction processing and cash flow management services bring together the payments settlement and cash flow management components.

About Exchange EDI, LLC:
Founded in 2009, Exchange EDI is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering information at the point-of-care to accelerate the cash flow management process while reducing administrative costs for providers and securing accurate payment from payers.

Contact:
Alan Brandfon – Partner
Priority Payment Systems Atlantic
info(at)ppsatlantic(dot)com
www.ppsatlantic.com
561-634-7442 Office
561-212-8808 Celluar

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Exchange EDI Announces HTX

Tallahassee, Florida, April 22, 2013

Exchange EDI. LLC, a leader in healthcare cash flow transaction technology announced today the release of its’ patented “Healthcare Transaction Exchange” (HTX). The HTX platform is designed specifically to reduce payer’s operating costs and achieve compliancy with Health and Human Services (HHS) EFT/ERA operating rules mandated in the Affordable Care Act of 2010 and effective first quarter 2014.

The operating rules require the Electronic Funds Transfer (EFT) and Electronic Remittance Advice (ERA) balance and reconcile before delivery to providers. Further, the rules require that payers provide banks with a CCD+ formatted ACH transaction containing the corresponding ERA re-association number used to match the separate EFT and ERA transactions, delaying reconciliation and posting by days.

“HTX reduces operating cost for payers by reducing provider inquiry and support demand, eliminating EFT to ERA balancing and reconciliation processes plus providing payers automated confirmation of delivery”, said B. P. Fulmer, Managing Partner, Exchange EDI.

Mr. Fulmer added, “HTX is attractive to banks because it eliminates their exposure to Protected Health Information (PHI) and HIPAA covered entity status. What makes HTX so efficient and unique is the provider receives only one combined, HIPAA and HHS compliant, transaction containing fully reconciled ERA and EFT data ready for posting. HTX eliminates the need to match and re-associate two separate transactions that arrive at different times”.

Given the simplicity of the HTX solution and accompanying administrative cost savings, payers see HTX as an opportunity to achieve and maintain compliance with Medical Loss Ratio rules while providing a higher level of cost saving service the providers community.

About Exchange EDI:

Founded in 2009, Exchange EDI is focused on developing and delivering intelligent technology solutions to the healthcare provider market that integrate healthcare and financial transactions into a single process, delivering real-time information and settlement that accelerates the patient cash flow management process while reducing costs and securing accurate payment from payers.

Contact

Daryle Johnson
Exchange EDI, LLC
PH: 214-335-4424
Email: Daryle.johnson@exchangeedi.com

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Exchange EDI and Record Quest Partnership

Exchange EDI, LLC, a leading healthcare cash flow and payments management company announced today a strategic partnership has been established with
RecordQuest, Inc., a leading healthcare Release of Information (ROI) company.
“I am pleased to announce that Exchange EDI and RecordQuest have entered into a strategic partnership that leverages the market presence and distribution channels of both companies.” stated B. P. Fulmer, Managing Partner of Exchange EDI. “Of particular interest to me is, while both companies are engaged in fostering process efficiency and change in the healthcare market, we have a common attitude that we must change paradigms, not just make incremental changes around the margins.”

Matthew Dailey, CEO of RecordQuest added, “We have felt for some time that healthcare administrative efficiency is a very broad market with many opportunities. Partnering with a company such as Exchange EDI, with a common market change philosophy, strengthens both companies and provides higher levels of services
to our clients.”
About RecordQuest, Inc. Based in Charleston, South Carolina, RecordQuest was established in 2006 as the product and vision of a group of health information management and technology professionals that set out to simplify the tedious Release of Information (ROI) process for the healthcare industry. The RecordQuest Electronic Patient Information Exchange (ePIX) software automates the ROI function for Healthcare Facilities and seamlessly integrates with all Electronic Health Record (EHR) systems, streamlining workflow and increasing efficiency, increasing staff productivity, reducing expenses and enhancing compliance while maximizing revenue & profitability.

About Exchange EDI, LLC
Founded in 2009, Exchange EDI is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering real-time information at the point-of-care to accelerate the patient cash flow management process while reducing costs and securing accurate payment from
payers.

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Exchange EDI Announces 2012 Record 4th Qtr Growth

Tallahassee, FL (PRWEB) January 31, 2013

Exchange EDI. LLC, a leading healthcare cash flow management technology company, reported a record breaking 2012 fourth quarter growth rate of 112%.

In a statement released by B. P. Fulmer, Managing Partner of Exchange EDI, he stated, “We are very gratified with the performance of the company during 2012. Fourth quarter performance not only continued a consistent quarter over quarter growth pattern, it established a consistent accelerating growth rate.” He commented the accelerated growth rate was due to the introduction of “Direct Payer Audit”, a payer underpayment monitoring and recovery service released in third quarter 2012 and the expansion of the company’s professional distribution network.

Exchange EDI has defined a strategic market niche by developing techniques and operating platforms emphasizing the importance of accelerating and controlling cash flow in healthcare practices – starting at the point-of-care. The objective is to truncate the traditional revenue cycle management process as much as possible.

Daryle Johnson, Executive Vice President of Business Development and Marketing commented, “We expect to see this growth pattern continue throughout 2013 and 2014 for Exchange EDI with the planned release of new administrative transaction management tools and platforms that will increase provider efficiency while reducing administrative and payment delivery costs for payers.”

About Exchange EDI, LLC:
Founded in 2009, Exchange EDI is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering information at the point-of-care to accelerate the cash flow management process while reducing administrativecosts for providers and securing accurate payment from payers.

Contact

Daryle Johnson
Exchange EDI, LLC
PH: 214-335-4424
Email: Daryle.johnson@exchangeedi.com

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Exchange EDI annouces Direct Quote Automation

 

 

Tallahassee, Florida, November 15, 2012; Exchange EDI. LLC, an innovation leader in healthcare cash flow management technology and services announced today the latest release of “Direct Quote” an exclusive enhanced version that further automates the process of patient responsibility determination.

 

Direct Quote is built on the most widely used patient “out-of-pocket” determination system supporting more than 15,000 providers with patient satisfying cost transparency resulting in reductions of patient DOS by more than 50%.

 

This new release of Direct Quote (DQ) greatly simplifies the process of producing a patient “out-of-pocket” cost determination.  It increases accuracy and produces faster results.  DQA has reduced the process of producing a detailed patient report and providing cost information at the individual CPT code level, down to only five fields of information.

 

Patti Velasco, Managing Partner of Exchange EDI stated: “DQ” streamlines the “out-of-pocket” cost determination process by customizing procedure “Protocol Templates” for each type of encounter for each practice and/or provider.  These Protocol Templates can he used to produce patient cost determinations two or three days before the appointment or at checkout.  If needed, a patient cost determination can be re-calculated to either add or remove CPT codes as necessary.”

 

Ms. Velasco added: “We saw a need to help our clients reduce some of the training burden caused by staff turnover.  This is what drove us to further simplify the human interaction for Direct Quote processing while increasing accuracy and speed.”

 

About Exchange EDI, LLC:

Founded in 2009, Exchange EDI is focused on developing intelligent technology solutions that integrate health and financial transactions into a single process, delivering real-time information at the point-of-care to accelerate the patient cash flow management process while reducing costs and securing accurate payment from payers.

 

Contact:

 

Daryle Johnson

Exchange EDI, LLC

PH:  214-335-4424

Email:  Daryle.johnson@exchangeedi.com                                      +*Direct Quote powered by: TransEngen, Inc.

 

 

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