Partnership Expands Concuity's Product Suite by Adding Price Transparency
VERNON HILLS, Ill. and DUBLIN, Ireland, June 23 /PRNewswire-FirstCall/ -- Concuity, a healthcare division of Trintech (Nasdaq: TTPA) and a leading provider of contract management and revenue recovery technology ("Peer Reviewed by HFMA") and services, today announced its partnership with Financial Healthcare Systems (FHS Corp), a provider of a web-based solution for credible procedural price estimates that provides patients with specific out-of-pocket costs, allowing them to better plan for impending medical expenses, while giving hospitals the ability to more accurately project revenue. By partnering with FHS Corp, Concuity further enhances its value proposition for hospitals seeking to increase customer satisfaction, streamline operations, and improve revenue calculation.
PriceAdvisor, developed as a result of this technology partnership, will provide a seamless interface from the ClearContracts system to accurately calculate patient financial responsibility at any point during a patient encounter. Calculations are based on actual contractual agreements that providers have with insurance companies for covered patients.
"Our goal is to gather pricing information and disseminate it in a manner that will be of use to the healthcare consumer. The toughest barrier for most hospitals is the availability of tools with which they can present this data to patients. Many hospitals work with a blue bar sheet from their Charge Description Master," said Travis Gentry, President for FHS Corporation. "Concuity's PriceAdvisor, integrated with its contract management system, will leverage contract management data so that hospitals can estimate what it costs for a particular diagnosis or procedure, what a payer will pay, and what a patient can expect their balance to be. The marriage of ClearContracts with a price transparency application makes perfect sense."
"Our partnership with FHS Corporation will provide additional growth opportunities for both companies and it represents an important addition to our well-established ClearContracts suite," said Ed Gallo, EVP for Concuity. "Additionally, we're pleased to provide an application that benefits both consumers and hospitals. Consumers get patient-friendly billing, which incorporates their specific condition and insurance coverage and hospitals get a system which enables them to earlier and better forecast revenue."
About Financial Healthcare Systems, LLC (FHS Corp)
Founded in 2005, FHS Corp is a national company focused on providing innovative financial healthcare systems. The Denver-based company provides a web-based solution, ACE Logicus(TM), which generates credible procedural price estimate that provide patients with specific out-of-pocket costs. This allows patients to plan for potential medical expenses. FHS Corp has gained national recognition for their work on Capitol Hill advocating for price transparency within the healthcare industry. For more information, please visit http://www.fhscorp.net or call 303-216-0202.
Founded in 2000 by a group of healthcare industry visionaries, and now a division of Trintech, Concuity improves its customers bottom line performance by delivering targeted revenue recovery solutions on a SAAS platform, including ClearContractsTM which has been reviewed by HFMA and features the notable "Peer Reviewed by HFMA" mark, that ensure accurate claims reimbursement, improve workflow and payment collection, streamline contract negotiations, optimize cash flow and profitability, and ensure accurate implementation and compliance.
Concuity's rich industry knowledge and market-focused technology solutions and services empower your organization to identify and then eliminate systemic issues that cause revenue inefficiencies. The result is a significant return on investment with long term sustainable improvement in revenue and profitability for our clients. For more information, call 847-465-6003 or visit http://www.concuity.com.
About Trintech Group
Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech's recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
Over 600 leading global organizations realize the benefits of Trintech's configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, eBay, Farmer's Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.
Trintech's technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.
For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at http://www.trintech.com or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.
Trintech - 15851 Dallas Parkway, Suite 900 - Addison, TX 75001 - Tel 1 972 701 9802
Trintech UK Ltd. - Warnford Court, 29 Throgmorton St. - London EC2N2AT, UK - Tel +44 (0) 20 7628 5235
Trintech Technologies - Block C, Central Park - Leopardstown, Dublin 18, Ireland - Tel +353 1 293 9840
Trintech - Cypresbaan 9 - 2908 LT Capelle a/d Ijssel, The Netherlands - Tel +31 (0) 10 8507 474
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