Murfreesboro, Tennessee, June 26, 2009… ClaimTrust, a leading provider of revenue cycle tools and services for hospitals, today announced that Quincy Medical Center, a 196-bed acute care community-teaching hospital, located in Quincy, MA, has improved cash flow and net revenue using ClaimTrust InSight Compliance™.

InSight Compliance is an advanced coding and compliance application and is part of ClaimTrust’s InSight Revenue Cycle Solution product suite. It helps hospitals achieve very high first-pass payment rates by automatically identifying claim errors prior to submission and providing tools to quickly and easily repair them. This improvement has not only enhanced cash flow for claims to patients’ primary insurance, but it has also virtually eliminated the extremely time-consuming re-work of claims to secondary insurers when primary insurer claims are denied.

In addition to enhancing the hospital’s cash flow, the tool has allowed Quincy to improve key performance metrics including Days in A/R, and spend less time and resources repairing and resubmitting claims and managing denials. The combination of improved cash flow and a much smaller volume of denials to appeal has also improved overall collections and net revenue for the hospital.

“The ClaimTrust tools have made it possible for us to get a significantly higher percentage of claims paid the first time through without having to bring on additional staff,” said Rachani Phadungchai, Director of Revenue Cycle for Quincy Medical Center. “Getting that first pass pay rate up has triggered a number of benefits for our organization: cash flow is faster and more predictable; we spend much less time reworking claims – especially secondary insurer claims. Going forward we hope to be able to roll out their Medical Necessity tool to our front office staff and eliminate more errors upstream before they even occur.”

Currently Quincy uses InSight Compliance for Tufts Health Plan and Medicare with plans to expand to other payors such as Blue Cross and Blue Shield. Medicare is the insurance provider for more than 50 percent of the patient population at Quincy. Currently 26 staff members use the ClaimTrust application, including coders and billers in patient accounts, medical records, and laboratories.

InSight Compliance provides revenue cycle filters that ensure that all claims are thoroughly scrubbed and fully coded with 98% payment accuracy before they go out the door. This tool is based on the most complete and up-to-date payor edit library in the industry, including rules for Medicare fiscal intermediaries and plan level edits for commercial payors. InSight Compliance is just one of ClaimTrust’s several revenue cycle tools that enable ClaimTrust to generate new revenue for hospitals of all sizes and specialties.

About ClaimTrust
ClaimTrust focuses exclusively on hospital revenue cycle tools. That singleness of purpose enables it to deliver the industry’s most effective mix of software and services designed to ensure that hospitals collect more of the revenue they are entitled to as fast as possible. The ClaimTrust InSight Revenue Cycle Solution is a suite of Web-based products that target the key revenue cycle inflection points that have the greatest impact on the bottom line. ClaimTrust provides the industry’s most frequently updated and deepest edit library; the ability to find new revenue from unbilled charges; a denials analysis engine which identifies trends and rules to generate edits that no other vendors has; and true all-payor support.

About Quincy Medical Center
Quincy Medical Center is a 196-bed acute care community-teaching hospital, providing the highest quality, most personalized and comprehensive medical and surgical services to patients throughout the South Shore. A private, nonprofit hospital, QMC has played a vital role in the community since 1890, serving the needs of its diverse patient population without exception. QMC is a clinical and academic affiliate of Boston University School of Medicine and Boston Medical Center, and is a leader in quality benchmarks both state- and nationwide. For more information, please visit www.quincymc.org.