Navicure, a medical claims clearinghouse, announced the company added 316 new medical practices to its client base during the second quarter of 2013.
In a release, the company noted that this helped contribute to the company's 27 percent growth in revenue over the same period in 2012. The growth is driven by physician practices' need for an online revenue cycle management system to better monitor the entire reimbursement process - from submission to rejection and appeal.
Navicure is a company focused on the growing healthcare IT industry. The organization was recently named to Healthcare Informatics' HCI 100 list as the 85th largest healthcare IT company in the United States. Navicure's continued growth in revenue and client base combined with the consistent need for technology throughout the healthcare sector positions the company for sustained corporate growth in the coming years.
Navicure's revenue cycle management solutions help practices increase profitability through improved claims reimbursement and staff productivity. Some of the new clients added in the second quarter include:
-Compass Health Systems, primarily located in South Florida, this 80-provider, multi-discipline organization has locations around the country and specializes in behavioral health services for children and adults.
-Little Rock Diagnostic Clinic, P.A., located in Little Rock, Ark., is a full-service adult diagnostic clinic with approximately 50 providers that is committed to providing quality healthcare by utilizing the most advanced diagnostic tools and technology available.
-OrthoTennessee is a 94-provider orthopedic specialty practice with nine locations in eastern Tennessee. The practice focuses on bringing the most up-to-date, care to patients with the best expertise and knowledge in orthopedic care for the region.
-Righttime Medical Care, a network of immediate care centers with nine locations in Maryland and five additional locations planned this year, offers care by experienced providers with short wait times, extended hours and the convenience of scheduling an appointment.
"As our practice prepares for ICD-10, we wanted to make sure our clearinghouse was also prepared for the transition," said Karen Clark, chief information officer at OrthoTennessee. "Navicure has already shown they are ready for the transition, particularly on the technology, support and education fronts. They also have the tools we'll need to effectively manage and appeal our denials pre and post transition."
"Being able to track claims at all times is critical for us," said Sandy Washburn, chief operating officer at Compass Health Systems. "We have to know if there are issues with the claim before they reach the payer and when the claim was received by the payer so we can accurately predict revenue and cash flow."
"As the healthcare industry continues to grow, Navicure remains focused on providing award-winning client service and creating IT solutions that enable our clients to collect more of what they've earned," said Jim Denny, founder, president and CEO of Navicure. "We are extremely optimistic about our future growth and continue to hire the best and brightest employees to ensure that we continue to exceed our clients' service and technology expectations."
Navicure is a medical claims clearinghouse that helps physician practices increase profitability through improved claims reimbursement and staff productivity. Serving over 40,000 healthcare providers in practices nationwide, Navicure's solutions automate account receivables processes, including primary and secondary claims reimbursement; patient eligibility verification; rejected and denied claims management, including appeals; electronic remittance and posting; claims and remittance reporting and analysis; and patient statement processing. Navicure's solution is supported by its unique 3-Ring Client Service which guarantees that a client service representative will answer every client call in three rings or less, even during times of transition like 5010 and ICD-10.
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