MedCost Selects Payerpath For Transaction Services
Leading managed care organization will streamline the claims submission process for its providers by offering a direct connection through Payerpath's Internet-based claims management platform
Richmond, VA (November 21, 2005) — Payerpath Inc., a leading provider of Internet-based financial transaction solutions for healthcare providers, hospitals and payers, today announced that MedCost Inc., the leading independent managed care organization in the Carolinas, has selected Payerpath as one of its transaction processing partners. Payerpath currently processes tens of thousands of MedCost claims each month on behalf of its provider customers. By partnering with Payerpath for transaction services, MedCost now has a direct connection to these providers. This connection will enable MedCost to drive provider adoption of electronic data interchange (EDI) transactions."The healthcare industry is moving away from paper-based transactions and toward EDI transactions," said Wanda Owen, director, managed care operations for MedCost. "Partnering with Payerpath enables us to quickly and cost effectively bring a solution to market that has a proven track record for driving provider adoption of these transactions."
"More and more forward-thinking managed care organizations like MedCost are turning to Payerpath to help them meet the growing provider demand for EDI transaction services," said Bill Rush, director of payer sales for Payerpath. "We look forward to helping MedCost meet this demand and position itself for future growth in this critical business area."
Payerpath currently processes more than 4 million claims each month to payers on behalf of its payer and provider customers.
About Payerpath
Payerpath is a provider of Internet-based financial management software applications and related services for healthcare providers, hospitals and payers. The company's comprehensive suite of applications, led by Payerpath Claims Management, address all steps in the reimbursement cycle—from verifying patient eligibility and correcting inaccurate claims to managing remittance and generating secondary billing. Consequently, providers are able to reduce administrative costs and eliminate payment delays for healthcare services resulting from claims denials. For more information, visit www.payerpath.com.
For Additional Information Contact:
| Payerpath - Brian Parrish bparrish@dodgecommunications.com 770-663-6343, ext. 226 |