Charlotte, NC, November 06, 2008 --(PR.com
)-- Preferred Medical Marketing Corporation (PMMC) is pleased to announce that it has been selected by Adena Health System to implement PMMC’s Contract Management Service to model and audit its payer’s contractual reimbursement. This service is built around PMMC Contract PRO, a sophisticated software system that audits, analyzes and monitors contractual agreements for accurate reimbursement.
Adena Health System is a well-respected nonprofit, independent community hospital located forty miles south of Columbus, Ohio. In addition to the flagship Adena Regional Medical Center, the system includes four other centers of excellence that offer a variety of inpatient, outpatient and rehabilitation therapies and services. Adena Health System, like other health providers nationwide must closely monitor complex and constantly changing contract terms and payer reimbursement practices to remain competitive.
According to JR Farrar, System Director – Revenue Cycle, “We believe PMMC’s Contract Management Service will support our organization’s efforts to improve our overall revenue cycle with prospective payer contract modeling, auditing for payment accuracy and improved collections tools for contractual underpayments. PMMC offered a complete solution for monitoring both hospital and physician contractual reimbursement. With the need for increased pricing transparency, PMMC’s patient estimate tool highlighted the fact that they could address our immediate needs as well as our future contract management needs.”
Health care executives have consistently identified reimbursement as their top issue. Understanding that millions of dollars can be lost when charges are not captured, claims are underpaid, or claims are denied, executives are turning to automated claims monitoring systems such as the PMMC Contract PRO software system to conveniently model rates and terms, track revenue and activity, audit claims, collect underpayments, and monitor overall contract performance for future negotiation.
PMMC offers a cost-effective, quick and systematic method to monitor contracts for optimal performance. Utilizing Microsoft VB.net and SQL Server, PMMC Contract PRO can be easily deployed via a web-hosted solution or locally installed on the client’s network. Complex reimbursement terms and methodologies, rates, and patient data can then be easily loaded by the client or outsourced to PMMC.
In addition to determining contractual underpayments, additional benefits of PMMC Contract PRO include: reducing rework in the billing department, supporting billing departments overall efforts, reducing revenue cycles, increasing cash flow, and identifying improvements to the provider’s processes.
Greg Kay, PMMC Senior Vice President said, “Hospitals deserve fair, adequate and timely reimbursement for the services they provide. Even though hospitals have sophisticated financial management systems, many hospitals find it difficult to obtain accurate definition of reimbursement and costs. Our goal is to help hospitals to get their arms around the reimbursement process so that they are paid for the services they provide. By understanding the hospital’s objectives and the resources available, decisions can be made on which tasks will be the responsibility of the client and which tasks will be outsourced to PMMC. This approach offered excellent companion system at Adena Regional Health System.”
PMMC, based in Charlotte, N.C., is a Microsoft-certified software development and consulting company. Since 1986, its innovative software and consultants have assisted more than 400 hospitals and 20,000 physician clients improve their financial operations through enhanced contract management, payment verification, cost accounting, financial decision support and consulting services. For more information, contact Greg Kay, 704-543-8103 or visit http://www.pmmconline.com.