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Table of Contents

Lead Story

Self-service channel emerging

News

Industry Update

Industry afloat amid economic plunge

MasterCard rings in new year with fee hike

FACTA flags identity fraud

Comerica tapped for prepaid benefits

Features

SEPA: Will the promise be realized?

Tracy Kitten
ATMmarketplace.com

Sizing up merchant cash advance

Marc Abbey, Yuriy Kostenko and Myron Schwarcz
First Annapolis Consulting

Industry Leader

Holli Targan –
Lady of the law

Views

Interchange debate a wake-up call

Patti Murphy
The Takoma Group

Have passion, success will follow

Biff Matthews
CardWare International

Education

Street SmartsSM:
It's 'bons temps' with SEAA in New Orleans

Dee Karawadra
Impact PaySystem

Requirement 10: PCI's Everest

Michael Petitti
Trustwave

Landing pages: Convert interest to action

Nancy Drexler
SignaPay Ltd.

Acquiring compliance

David Mertz
Compliance Security Partners LLC

Merchant services hierarchy

Adam Atlas
Attorney at Law

Company Profile

Sonoma Technical Support Services

New Products

POS terminal cool to the touch

ST-A10 TouchPOS
Toshiba TEC America

Ensure health care claims at the POS

ImpactMD
Impact PaySystem

A quick-draw scanner at the POS

MS9590 VoyagerGS
Metrologic Instruments Inc.

Inspiration

Business travel made comfy

When the sandman is AWOL

Miscellaneous

POScript

Departments

Forum

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

January 28, 2008  •  Issue 08:01:02

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New Products

Ensure health care claims at the POS

Product: ImpactMD

According to Memphis, Tenn.-based ISO Impact PaySystem, more than 25% of all health care insurance claims are denied when first presented for payment, a collection problem no other industry faces. Denied claims cause headaches for everyone, from useless paper-pushing to wasted time because nobody gets paid.

Impact PaySystem is offering a solution with ImpactMD, an online health insurance eligibility portal designed to assist health care providers with the means to electronically determine a patient's insurance eligibility within seconds, compared to the typical 18 to 25 minutes.

The claims submission process is a "one-click" electronic solution. Once eligibility is determined, claims can be submitted error-free, and providers can be paid in real-time at the POS.

Impact PaySystem said about 6% of all health care claims are denied due to patient ineligibility under a given insurance plan. More than half of the money from those denied claims is ever reimbursed to providers, resulting in substantial financial losses.

ImpactMD minimizes or eliminates that loss by allowing the provider to use any Web browser to log on to ImpactMD's eligibility portal to ascertain whether that patient is covered for a particular medical procedure. Payer information is decoded into English, and an entire patient schedule can be processed within minutes.

As part of the ImpactMD system, the ClaimEditor uses payer-specific edits to ensure the claim is paid on first presentation, nearly eliminating claims resubmissions.

Based on CCI (Computer to Computer Integration), LMRP (Local Medical Review Policy) and medical necessity edits, the ClaimEditor identifies every reason a claims file may not be paid. Published and unpublished payer-specific criteria updated weekly may also be utilized to that end.

Impact PaySystem said ImpactMD's all-payer rules engine gives providers a 100% payment rate for reimbursements on first submission, minimizes receivables and days outstanding by up to 20%, speeds up revenue collection, and reduces denial management costs.

Impact PaySystem worked for over a year with insurance providers conducting beta tests to develop ImpactMD. It is available in two customized interfaces for hospitals and physicians.

Impact PaySystem
877-251-0778
www.myimpactmd.com

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services