Press Release
February 9, 2009
Bloodhound Technologies Unveils
Convergence Point Claims Editing Service
Next-generation insurance claims editing and analytics service is first to offer real-time, pre-adjudication claims editing based on open sourced claims edits
RESEARCH TRIANGLE PARK, NC – February 9, 2009 – Bloodhound Technologies defines real-time editing and transparency for the healthcare industry today with the announcement of the ConVergence Point claims editing platform. ConVergence Point contains costs, increases auto-adjudication rates and improves payer-provider relations all in sub-second response time.
The result of a $14M investment, ConVergence Point can process a claim or multiple claims simultaneously against full patient history, complete payer policy customizations, and Bloodhound’s 16 million sourced clinical edits all in 350 milliseconds. Further, ConVergence Point is the first and only next-generation platform to offer pre-adjudication editing that provides healthcare payers significant operational efficiencies in addition to identifying overpayments.
“Senior Whole Health wanted a scalable, adaptable, efficient and real time claims editing system that could be placed anywhere in the adjudication process, and that’s what we got with Bloodhound Technologies’ ConVergence Point,” said Mike Levoshko, CTO, Senior Whole Health, a voluntary health care plan for low-income seniors in Massachusetts and New York States. “From the get-go, Bloodhound Technologies was able take our data and immediately respond with a comprehensive analysis. We also liked the price point, savings and ease of implementation out of the box. What’s more, ConVergence Point is a three-dimensional system that lets you turn its edit rules on and off at any point. The fact that ConVergence Point can control and archive these rules dynamically is worth its weight in gold.”
Open source rules, a full audit trail visible to payers and providers, and the ability for providers to correct miscoded claims sets the standard for provider relations and transparency. Bloodhound believes that this level of visibility will build trust between payers and providers.
In addition to real time processing and full transparency, ConVergence Point offers significant advantages, including:
- Integration with any claims adjudication system, clearinghouse, or claims gateway.
- An expandable infrastructure with the ability to scale rapidly to meet payer needs through a SaaS delivery model;
- 80 terabyte data warehouse that provides claims analytics and data mining for unmatched insight into operations;
- Open, fully-sourced edits from accredited industry sources such as CMS and the AMA;
- Full suite of reporting tools for payer staff and providers to precisely track ROI;
- Complete customization of edits to exactly match a payer’s reimbursement policies that is intentionally designed to dramatically increase auto-adjudication rates and eliminate the need for pending claims;
- Fraud protection and abuse detection with trend analysis and variance reporting capabilities based on historical data in the ConVergence Point data warehouse;
- The only editing platform to be fully ICD-10 enabled.
“Real time adjudication processes are important to support the emerging consumerism market, providing clear payment liability information to both providers and consumers,” said Janice Young, program manager, Health Industry Insights' Healthcare Payer research. “Solutions that improve the consistency, transparency and timeliness of claims processing deliver a new level of accuracy that will lead to improved relationships among payers, providers and consumers.”
“Bloodhound Technologies ConVergence Point can process a claim or multiple claims simultaneously against full patient history, complete payer policy customization and our 16 million clinical edits all in 350 milliseconds,” said Gary Twigg, CEO and President of Bloodhound Technologies, Inc. “We designed and built ConVergence Point to align with the larger trends in the market and to constantly evolve with a unique architecture that allows for infinite expansion of the processing capacity.”
About Bloodhound Technologies, Inc.
Bloodhound Technologies is the only claims editing service and analytics provider to offer a fully transparent, customizable, real time service for all participants in the claims revenue cycle. ConVergence Point, its next generation, hosted claims editing service, can process a claim against 16 million edits across total patient history in sub-second response time. All ConVergence Point edits are open-sourced and based on national standards and can be filtered to exactly match a payor’s re-imbursement policies. Further, ConVergence Point provides a Web portal for providers to see edits and correct claims before submission. This remarkable service can integrate with any claims adjudication system, clearinghouse, or claims gateway.
Based in Durham, NC, Bloodhound Technologies is a venture-backed company with investments from Noro-Moseley Partners and The Wakefield Group. For more information, visit www.bloodhoundinc.com.
Media Contacts:
David Jackson
Bloodhound Technologies, Inc.
919-313-1651
djackson@bloodhoundinc.com
Christian T. Potts/Madeline Shedno
Schwartz Communications
781-684-0770
bloodhound@schwartz-pr.com