Press Release
HealthEdge Forms Alliance with Bloodhound Technologies to Deliver New Levels of Cost Savings and Efficiency To Claims Administration
Partnership offers payors real-time claims editing and business transparency to maximize productivity and profitability
Burlington, Mass. — September 29, 2009 — HealthEdge®, provider of the only modern, enterprise-class software platform for healthcare payors, today announced a strategic partnership with Bloodhound Technologies. Through this alliance, users of HealthEdge’s award-winning HealthRules® product suite will gain the ability to realize improved claim efficiency, faster issue resolution, greater overpayment savings, and superior fraud detection using Bloodhound Technologies’ ConVergence Point service.
“Our partnership with HealthEdge offers payors a comprehensive approach to eliminating manual claims processes and maximizing reimbursement accuracy, which is particularly important in today’s cost-conscious economy,” said Gary Twigg, chief executive officer and president of Bloodhound Technologies. “The combination of our advanced technologies will enable our client base to take their operational efficiencies and financial performance to a whole new level.”
The patented, one-of-a-kind HealthRules software suite allows healthcare payors to rapidly respond to new business opportunities and market changes—in hours, not weeks or months—while reducing costs and increasing operational efficiencies. Organizations using the HealthRules platform gain the ability to compete more effectively in the emerging consumer-centric healthcare marketplace, as they are now able to quickly offer the kinds of innovative products that the market demands.
“Our alliance with Bloodhound Technologies delivers on our promise to empower payors with high performance solutions that provide the flexibility and scalability needed to adapt to the new healthcare economy,” said Rob Gillette, CEO of HealthEdge. “By leveraging the shared expertise of two market leaders, payors will further streamline claims administration, leading to reduced cost and increased sustainability in this highly competitive marketplace.”
Bloodhound’s ConVergence Point is the only claims editing service to offer a fully transparent, customizable, real-time service for all participants in the claims revenue cycle. With integrated, open-source editing functionality, the solution can process a claim against 16 million edits across total patient history while achieving sub-second response time. ConVergence Point is also the first solution in the industry to offer pre-adjudication editing through an intuitive Web portal, resulting in dramatic administrative efficiencies and reduction in overpayments.
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 payer’s reimbursement 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 http://www.bloodhoundinc.com.
About HealthEdge
HealthEdge provides the only modern, enterprise-class software platform for healthcare payors. Using the patented HealthRules® software suite, health plans, health insurance companies and other payors can finally respond to new business opportunities and market changes in hours, not months or years, while drastically reducing both IT and operational costs. Leveraging an investment of over $125 million in information technology, HealthRules is the most modern, scalable and cost-effective technology in the industry. HealthEdge is the only choice for payors to survive and thrive in the emerging healthcare economy. For more information, visit http://www.healthedge.com.
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Contacts:
David Jackson
Bloodhound Technologies, Inc.
919-313-1651
djackson@bloodhoundinc.com
Brian Bogie/Madeline Shedno
Schwartz Communications for Bloodhound
781-684-0770 or 781.799.9687
bloodhound@schwartz-pr.com