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PatientKeeper’s new charge capture software is awarded US patent

PatientKeeper : 16 October, 2007  (New Product)
PatientKeeper has been awarded patent number 7,110,955 by the US Patent and Trademark Office for its charge capture software.
The patent, ĎA Device For Automating Billing Reimbursement’ relates to PatientKeeper’s innovative use of a PDA to automate the manual, paper-intensive process of physician charge capture.

The software has been revolutionary in helping to eliminate handoffs, save physicians time, improve the accuracy of billing and increase revenue and cash collections.

Hospitals across the country lose millions of dollars every year due to the inefficiencies of the paper-based billing process. According to an October 2005 report by the Healthcare Financial Management Association, providers, on average, lose five percent of gross revenues per year, which can translate into millions of dollars for a single organization.

Some of the sources of lost revenue include lost charge slips, incomplete charge slips, long delays in charge submission, and inaccurately coded charges that are denied by the insurance carriers. PatientKeeper Charge Capture addresses these issues.

“Virtually every healthcare organization has challenges with paper-based billing processes. Before PatientKeeper, physicians at many of the leading healthcare institutions were literally keeping track of their charges on 3x5 index cards,” said Paul W Brient, president and CEO of PatientKeeper. “By awarding this patent, the US Patent and Trademark Office recognises PatientKeeper’s pioneering work in developing a solution that automates and streamlines the physician component of the billing process. This allows physicians to spend more time with their patients while improving their financial performance through increased cash flow and reduced claim denials.”

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