New SoftCo eClaims 2.0 Targets Hospital Savings
Whitfield Clinic live with SoftCo eClaims 2.0; New version transforms eClaims initiative from compliance focus to cost savings for Healthcare Providers
Dublin, Ireland, May 14, 2015 --(PR.com)-- SoftCo is delighted to announce that the latest version of SoftCo eClaims is live in Whitfield Clinic, one of Ireland's leading private hospitals. The new version of SoftCo eClaims includes a number of exciting new modules focused on delivering real savings to the Hospital.
SoftCo eClaims led the way in 2013 by being the first solution to meet the new eClaims Industry standards while automating health insurance claims processing. The latest release of SoftCo eClaims takes another major step forward transforming the eClaims Industry initiative from a compliance focus to delivering cost savings for the healthcare provider.
SoftCo eClaims 2.0 now also automates internal hospital financial processes including billing, receivables, cash receipts and provides detailed reporting and analytics to maximize revenues.
“We needed to justify our investment in eClaims based on delivering internal benefits and saving money rather than just meeting the compliance standards. We are now live with SoftCo eClaims and we are delighted that we are meeting our goals.”
-Conor McGovern, CFO, Whitfield.
SoftCo eClaims was the first solution to successfully automate the processing of hospital health insurance claims in full compliance with the new eClaims industry standard defined by the major Healthcare Insurers known as the Multi Insurer Group (MIG) comprising Aviva, Laya & Vhi. While the MIG stated that eClaims would revolutionise the way claims are processed in the Irish healthcare industry the challenge was to also deliver measurable benefits for the healthcare providers to justify the necessary investment. The latest version of SoftCo eClaims achieves that goal.
“SoftCo has pioneered the automation of Healthcare Claims Management for the new MIG standards, delivering an 80% reduction in returned claims and reduced processing costs. SoftCo eClaims 2.0 now moves the initiative to a new level by delivering internal savings and efficiencies to hospitals.”
-Anton Scott, CEO, SoftCo.
In addition to meeting the eClaims standards required by the MIG Insurers and streamlining the entire claim lifecycle, SoftCo eClaims now provides healthcare providers with a range of new tools to deliver real internal efficiencies and cost benefits including:
· Insurance verification workflow to automatically validate patient cover in advance
· Billing for MIG and non-MIG insurers and any other private or institutional payers
· New receivables workflows to manage collections and dunning processes
· Integrated cash receipts, lodgments and reconciliation workflows
· New analytics and reporting engine with fully configurable dashboards & reports
SoftCo has announced a series of nationwide workshops with Healthcare Providers to showcase the features and benefits of SoftCo eClaims 2.0 and to share the experiences of UPMC, Alliance Medical and Whitfield Clinic in implementing eClaims with SoftCo.
For further details, please contact our Events Co-ordinator, Tracey O'Halloran by phone (+353) 1 294 2420 or by email tracey.ohalloran@softco.com
About SoftCo:
Established in 1990, SoftCo is one of the most successful indigenous Irish Software companies with over 500,000 business users worldwide. Headquartered in Dublin, SoftCo has offices in London, Boston and Helsinki. The company’s solutions streamline business processes, reduce costs and ensure organisations meet their compliance obligations.
SoftCo has achieved significant success in the Healthcare market with customers globally including Providence Hospitals in South Carolina, Iowa Health System, Vhi Healthcare, Alliance Medical, University of Pittsburg Medical Centre (UPMC) and St Peter’s University Hospital in New Jersey. SoftCo is ISO27001 certified and is a Microsoft Gold Partner.
About the eClaims Industry Initiative
eClaims is a recent development set to revolutionise the way claims are processed in the Irish Healthcare Industry. It is an initiative spearheaded by the three main health insurers, Laya Healthcare, Aviva Health and Vhi Healthcare and is being coordinated by Insurance Ireland. The aim is to rollout a national standard for electronic claims, which will benefit all parties, achieving savings through the reduction of paper work and providing healthcare providers with improved cashflow and resources to focus on patient care. See www.ehealthclaims.ie for more information.
SoftCo eClaims led the way in 2013 by being the first solution to meet the new eClaims Industry standards while automating health insurance claims processing. The latest release of SoftCo eClaims takes another major step forward transforming the eClaims Industry initiative from a compliance focus to delivering cost savings for the healthcare provider.
SoftCo eClaims 2.0 now also automates internal hospital financial processes including billing, receivables, cash receipts and provides detailed reporting and analytics to maximize revenues.
“We needed to justify our investment in eClaims based on delivering internal benefits and saving money rather than just meeting the compliance standards. We are now live with SoftCo eClaims and we are delighted that we are meeting our goals.”
-Conor McGovern, CFO, Whitfield.
SoftCo eClaims was the first solution to successfully automate the processing of hospital health insurance claims in full compliance with the new eClaims industry standard defined by the major Healthcare Insurers known as the Multi Insurer Group (MIG) comprising Aviva, Laya & Vhi. While the MIG stated that eClaims would revolutionise the way claims are processed in the Irish healthcare industry the challenge was to also deliver measurable benefits for the healthcare providers to justify the necessary investment. The latest version of SoftCo eClaims achieves that goal.
“SoftCo has pioneered the automation of Healthcare Claims Management for the new MIG standards, delivering an 80% reduction in returned claims and reduced processing costs. SoftCo eClaims 2.0 now moves the initiative to a new level by delivering internal savings and efficiencies to hospitals.”
-Anton Scott, CEO, SoftCo.
In addition to meeting the eClaims standards required by the MIG Insurers and streamlining the entire claim lifecycle, SoftCo eClaims now provides healthcare providers with a range of new tools to deliver real internal efficiencies and cost benefits including:
· Insurance verification workflow to automatically validate patient cover in advance
· Billing for MIG and non-MIG insurers and any other private or institutional payers
· New receivables workflows to manage collections and dunning processes
· Integrated cash receipts, lodgments and reconciliation workflows
· New analytics and reporting engine with fully configurable dashboards & reports
SoftCo has announced a series of nationwide workshops with Healthcare Providers to showcase the features and benefits of SoftCo eClaims 2.0 and to share the experiences of UPMC, Alliance Medical and Whitfield Clinic in implementing eClaims with SoftCo.
For further details, please contact our Events Co-ordinator, Tracey O'Halloran by phone (+353) 1 294 2420 or by email tracey.ohalloran@softco.com
About SoftCo:
Established in 1990, SoftCo is one of the most successful indigenous Irish Software companies with over 500,000 business users worldwide. Headquartered in Dublin, SoftCo has offices in London, Boston and Helsinki. The company’s solutions streamline business processes, reduce costs and ensure organisations meet their compliance obligations.
SoftCo has achieved significant success in the Healthcare market with customers globally including Providence Hospitals in South Carolina, Iowa Health System, Vhi Healthcare, Alliance Medical, University of Pittsburg Medical Centre (UPMC) and St Peter’s University Hospital in New Jersey. SoftCo is ISO27001 certified and is a Microsoft Gold Partner.
About the eClaims Industry Initiative
eClaims is a recent development set to revolutionise the way claims are processed in the Irish Healthcare Industry. It is an initiative spearheaded by the three main health insurers, Laya Healthcare, Aviva Health and Vhi Healthcare and is being coordinated by Insurance Ireland. The aim is to rollout a national standard for electronic claims, which will benefit all parties, achieving savings through the reduction of paper work and providing healthcare providers with improved cashflow and resources to focus on patient care. See www.ehealthclaims.ie for more information.
Contact
SoftCo Ltd
Tracey O'Halloran
353 1 294 2420
www.softco.com
Tracey O'Halloran
353 1 294 2420
www.softco.com
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