Press Release

Release of Direct Payer Audit

Exchange EDI announces the release of its newest service, Direct Payer Audit.

Tallahassee, Florida, November 8, 2012; Exchange EDI. LLC, an innovation leader in healthcare cash flow management technology and services announced today the release of its newest service “Direct Payer Audit”, an automated payer underpayment detection system.

“The 2011, AMA National Health Insurer Report Card of Commercial Payers, reported that approximately 15% of all claims processed by the seven largest payers are paid incorrectly”, stated Patti Velasco, Managing Partner of Exchange EDI.  “This results in billions of dollars in underpayments to the provider community. It is estimated providers are underpaid between 2% and 8% of their gross payer revenue.  For example, a provider group with gross revenues of $20 million annually may be losing $300K to $1M dollars a year in underpayments.”

B. P. Fulmer, Managing Partner of Exchange EDI said, “Direct Payer Audit is available as an integrated feature of our “Direct Quote*” patient cash flow management platform, or as a “stand alone” service offering. “Direct Payer Audit is targeted at the underserved mid-size healthcare practice market.  However, larger practices and facilities are showing an interest because it is much more cost effective than other available options.”

Direct Payer Audit is a full service solution that not only identifies suspected payer underpayments, it undertakes the task of collecting the underpayments for the practice.  This is important because many practices do not have the availability of resources or tools to effectively and efficiently pursue these underpayments.

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.  (www.exchangeedi.com)

Contact

Daryle Johnson

Exchange EDI, LLC

PH:  214-335-4424

Email:  Daryle.johnson@exchangeedi.com

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Exchange EDI and CRT Partnership

Exchange EDI and CRT Forms Strategic Partnership

TALLAHASSEE, FL – October 17, 2012 – Exchange EDI, an innovation leader in healthcare cash flow management technology and CRT Medical Systems, Inc., the largest medical billing management company in Michigan, announced today the establishment of a strategic partnership.   Exchange EDI and CRT have combined resources to deliver a very comprehensive set of medical cash flow management solutions to CRT’s current and future clients.

Today, close to thirty percent (30%) of a medical practice’s total revenue is coming from the patient in the form of higher co-pay, co-insurance and deductibles.  This is up dramatically from twelve (12%) to fifteen per cent (15%) less than ten years ago.   It is expected these trends will continue, resulting in even greater cash flow management risks for practices.

CRT and Exchange EDI recognized this shift and collaborated to create cash flow management solutions for CRT clients that significantly reduce patient accounts receivable and eligibility denials, monitor the accuracy of payer payments and increase patient satisfaction.

“We have experienced significant growth in recent years. But the healthcare market is changing rapidly and our clients expect us to help guide them through these changes by enhancing and protecting their revenue.  Our continued growth depends on being an innovative, strategic leader. That is why we entered into this strategic partnership with Exchange EDI.  They have worked very closely with our team to craft a set of comprehensive solutions that will assist us in continuing to deliver outstanding service and performance to our clients” said David Doyle, CEO CRT.

B. P. Fulmer, Exchange EDI, Managing Partner commented: “CRT has a reputation of being an innovative market leader.  We are very excited about our collaborative work with CRT to deliver a set of innovative Medical Banking cash flow management tools.  It is a step “Outside the Box” of conventional thinking.  We have a common belief that cash flow management, in medical practices, begins before the “Point of Care”.

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 in order to accelerate the healthcare patient cash flow management process while reducing costs and securing accurate payment from payers.

About CRT Medical Systems: Founded in 1980, CRT is the largest multi-specialty medical billing company in Michigan. The Healthcare Billing and Management Association (HBMA) recently recognized CRT Medical Systems as one of the top 50 billing companies in the nation.  CRT processes over $500 million in annual claims for more than 1200 providers.

Contact:

Daryle Johnson

214-335-4424

Daryle.Johnson@exchangeedi.com

Website: www.exchangeedi.com

 

 

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Exchange EDI and iTech Partnership

Exchange EDI and iTech

Deliver Patient Cash Flow Management to Practices

Atlanta, GA, July 1, 2011 – Exchange EDI announced a partnership with iTech Workshop Private Limited (iTech), a Healthcare IT Solutions Company with focus on Medical Billing, PMS, HIPAA, X12N, Direct Payer Connectivity, Electronic Claim Life Cycle and Revenue Cycle Management Solutions for the US healthcare market. Some of the key aspects of the partnership include:

* iTech reselling Exchange EDI real time and point-of-care patient cash flow management products such as Direct Quote and e-Cashiering.

* Providing seamless Insurance Eligibility and Benefits verifications from iTech’s expEDIum Medical Billing solution using Exchange EDI’s Eligibility Gateway that provides coverage for over 400 public and private payers representing approximately 85% of the covered lives in the US.

* Provide an expEDIum Eligibility Portal product that uses Exchange EDI’s Eligibility Gateway.

* Providing seamless electronic claims submission from iTech’s expEDIum Medical Billing solution using Exchange EDI’s Direct Claims clearinghouse services.

iTech has seamless Insurance eligibility verification where users can perform either batch verifications or real time verifications of Insurance eligibility from the Patient Demographics module. iTech has integrated eligibility verification with the appointment scheduler module too wherein real time verification can be performed on the fly when an office visit is being scheduled for a new patient or an existing patient. iTech’s expEDIum Medical Billing solution and expEDIum Eligibility Portal are available through its’ secure SaaS model for an affordable monthly subscription.
B. P. Fulmer, Managing Partner, Exchange EDI stated, “Exchange EDI is very pleased that iTech selected Exchange EDI as its partner to deliver a set of patient cash flow management products. Our focus is on providing innovative transaction solutions that accelerate cash flow and reduce the costs of managing and collecting patient responsibility payments prior and at the point-of-care.”

iTech’s CEO, Mr. Siva Narayanaswamy added that “iTech believes this partnership would help us both reach out to wider healthcare audience and continue contributing to reduction of billing, insurance related administrative costs.”

About iTech
iTech’s expEDIum suite includes expEDIum Claim Scrubber, expEDIum Claims Portal and expEDIum Medical Billing and processes over 11.6 million HIPAA transactions a year across all its products aggregated per year currently. These are a combination of Professional, Institutional and Dental claims. iTech can be reached through its website at http://www.itechws.com.

Sivakumar Narayanaswamy
nsiva@itechws.com
813.260.2789

About Exchange EDI
Exchange EDI is a Florida based company with offices in Cartersville, GA and Tallahassee, FL providing a variety of products within the Patient Payment responsibility management space including Direct Quote and e-Cashiering. They offer clearinghouse services for electronic claims and eligibility. Exchange EDI can be contacted through its website at www.exchangeedi.com.

B. P. Fulmer
bp.fulmer@exchangeedi.com
770-334-3222

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