MTBC also launches the PDA version of its web-based billing platform
SOMERSET, N.J., July 30 /PRNewswire/ -- MTBC, the unique revenue cycle and practice management company, has executed automated real-time adjudication (RTA) of claims for patients with United Healthcare insurance. MTBC believes it is the first U.S. billing company to achieve this breakthrough with any insurer.
RTA provides an immediate adjudication of insurance claims and allows a physician practice to determine and collect the full payable amount -- not just the patient co-payment. RTA has not been widely used because of technology hurdles and repetitive manual submission that is time-consuming and error prone. MTBC is now rolling out its automated RTA process to its clients and is actively developing and testing the interface and communications channels for other insurers and 3rd party vendors that offer RTA implementation.
"This advance demonstrates that we're a nimble technology company that acts quickly on the issues reshaping the entire healthcare industry," said David Rosenblum, president of MTBC. "We are committed to maximizing and accelerating our clients' collections, and RTA is one step in achieving that."
In its continual campaign to reduce costs through process improvements, MTBC already performs all-inclusive billing at only 4 percent of collections, a rate typically 25 percent - 50 percent less than that of most medical billing services.
With MTBC, Practices Access Their Billing Through PDAs
In an additional IT development, MTBC has launched the PDA version of its billing platform so that clients now access their practice's accounts receivable, scheduler, financial reporting, claims tracking and other data through an iPhone, Blackberry and Windows Mobile device.
"As a web-based billing company, we're always building on 24/7 accessibility for physicians and practice administrators -- and few if any companies can match us in this area," said Mr. Rosenblum.
Founded in 1999 and based in Somerset, NJ, MTBC performs revenue cycle
and practice management for healthcare providers in all specialties. The
standard service, billed at 4 percent of collections, includes practice
management tools, financial reporting capabilities, online patient
scheduling and office forms, and online access to billing and scheduling
information. The premium service, billed at 5 percent of collections,
includes full integration with a third-party EMR, real-time insurance
eligibility verification, digital prescribing and electronic lab
requisitions. To learn more about MTBC's medical billing and its medical
transcription services, visit http://www.mtbc.com.
From: MTBC (Medical Transcription Billing Corp.)
7 Clyde Road
Somerset, NJ 08873
Contact: Axiom Communications
James A. Quirk, VP/Media Relations
Michael Menche, VP/Marketing & Sales
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