|By Business Wire||
|April 22, 2014 12:01 PM EDT||
Navicure, a leading healthcare billing and payment solutions provider for hospitals, physician practices and billing companies, today announced the company added more than 300 new clients representing 1,225 providers to its roster in the first quarter of 2014. After a strong performance throughout 2013, Navicure experienced continued growth with a 19 percent increase in Q1 2014 revenue compared to the same period in 2013.
The company attributes its growth to several factors, including its early preparation and robust education and training to help organizations with a smooth ICD-10 transition, prior to the federally mandated delay. New clients acknowledge they chose Navicure as their billing and payment solutions provider due to its thorough preparation for the transition, including end-to-end testing with payers, technology partners and practices.
“ICD-10 follows in the tradition of several other complex industry regulation changes including the 5010 transition in 2012, along with NPI, 4010 and HIPAA before that. Navicure is committed to using these transitions as opportunities to help all clients and the industry successfully navigate the changes,” said Jim Denny, founder, president and CEO of Navicure. “Even though the ICD-10 transition has been delayed, healthcare providers can still use this time to improve their revenue, cash flow and productivity. We’re helping our clients in all these areas with or without regulatory changes.”
Several of the new clients selected Navicure for its ability to integrate across physician practices and associated health systems in order to streamline operations and reporting efforts. A few recent key wins include:
- Nemours Children’s Health System, a non-profit children’s health organization with locations and clinics in Delaware, New Jersey, Pennsylvania and Florida, serves more than 250,000 children annually. As one of the largest integrated pediatric health systems, its world-class research, education and advocacy efforts aim to ensure patients and their families receive the highest quality of care.
- Western Psychological and Counseling Services, P.C. provides quality outpatient mental health, chemical dependency and EAP services to patients in the Portland and Vancouver, Wash., metro areas. With more than 120 clinicians working in a variety of specialties, the group is committed to promoting a positive experience to patients during difficult times.
- Arizona Digestive Health serves patients in Phoenix and surrounding areas at its 27 locations and 11 endoscopy centers by providing quality, expert care to patients in the fields of gastroenterology and hepatology. The organization is committed to being the leading caregiver for patients with digestive diseases, and is always implementing new technologies to ensure the highest standard of care for patients.
“As a multi-state, multi-facility health system, we’re always looking for ways to improve our processes so we can continue focusing on providing leading care to our patients and their families,” said Peter Seidel, CBO director at Nemours. “With Navicure, we’ve been able to efficiently consolidate billing processes to ensure all resources are allocated where they will be most effective so patient care remains at the center of everything we do.”
“Before implementing Navicure, our practice was receiving rejection messages that were difficult to interpret,” said Nancy McManus, CEO of Arizona Digestive Health. “Now, we’re able to easily view and process this information and better manage the electronic remittance advice (ERA) process for overall improved revenue cycle management.”
Navicure’s healthcare billing and payment solutions help provider organizations increase revenue, accelerate cash flow, and reduce cost from managing insurance claims and patient payments. Serving over 50,000 healthcare providers nationwide, Navicure’s technology solutions automate account receivables processes, including primary and secondary claims reimbursement; patient eligibility verification; rejected and denied claims management, including appeals; electronic remittance and posting; claims and remittance reporting and analysis; and patient statement and payment processing. Navicure’s solutions are supported by its unique 3-Ring® Client Service which guarantees that a client service representative will answer every client call in three rings or less, even during times of transition such as 5010 and ICD-10.
Navicure is the exclusive revenue cycle solution of the MGMA AdminiServe® Partner Network and an MGMA Executive Partner. The company received “Best in KLAS” distinctions for the claims and clearinghouse services market segment as part of the 2008, 2010 and 2012 Best in KLAS Awards: Software & Services report (www.KLASresearch.com). KLAS is a leading source of information on healthcare information technology vendor performance. Navicure also received the 2013 Gold Stevie Award for Healthcare Customer Service Team of the Year as part of the 2013 Stevie Awards for Sales and Customer Service.
Navicure is the founding sponsor of www.icd10hub.com, a free educational website devoted to making physician practices’ transitions to ICD-10 easier. Additionally, ICD-10 Analyzer by Navicure (navicure.com/icd10analyzer) is a complimentary online tool that enables medical billers to identify the ICD-9 codes that will most impact a user’s payer reimbursement and suggest corresponding ICD-10 codes. Navicure continues to be ranked among the fastest growing companies nationally in the Inc. 5000 and Deloitte Fast 500 rankings. For more information, please visit www.navicure.com.