RealMed, a leading provider of web-based revenue cycle management solutions for healthcare providers, hospitals and payers, today announced a signed contract with DC-based George Washington University Medical Faculty Associates (MFA) for secure, internet-based, real-time adjudication and processing of electronic claims transactions, real-time claims editing, automatic claims status and electronic remittance advice management.
“The GW Medical Faculty Associates is regarded nationally as a leader in healthcare IT with its unique and secure Electronic Medical Records and practice management systems. We selected RealMed because it complemented our own paperless systems with real-time claims submission, comprehensive online claims editing, and a reputation for solid customer service,” stated Stephen Badger, CEO of The GW Medical Faculty Associates. “RealMed will help us eliminate manual processes by submitting claim attachments and appeals electronically.”
Robert Van Dyke, Regional Vice President at RealMed stated, “A recent Health Affairs study reported physician billing and insurance-related functions consume 14% of medical group revenue.” Van Dyke went on to say, “With costs and overhead increasing, healthcare providers are seeing higher patient liabilities and increased receivables. RealMed has creative tools that help providers collect what they are owed by the insurance companies and patients. In fact, we were ranked ‘Best in KLAS’ for Claims and Clearinghouse Service in the prestigious KLAS annual report.* KLAS is an independent research firm specializing in vendor performance measurement in the software, professional services, and medical equipment categories. We look forward to working with The GW Medical Faculty Associates to further strengthen their administrative efficiency and bottom line.”
The George Washington University Medical Faculty Associates will have full access to RealMed’s services by the first quarter of 2010.
