PHILADELPHIA, PA and NEWPORT BEACH, CA (September 12, 2006) – InstaMed, a real-time gateway and processor of healthcare and payment transactions, announces that the patent pending InstaMed Platform now offers InstaMed Claim Verification Services (ICVS), an all-payer, real-time processing and pre-adjudication solution for healthcare.
ICVS delivers real-time processing on every claim so that healthcare providers can detect claim errors, rejections and potential denial issues prior to submission and begin to correct them immediately. The InstaMed Platform supports many of the key processing functions that occur on a payer’s claim system, which means that a submitter can find out claim status in real-time instead of waiting 24 to 48 hours or making a phone call.
Bill Marvin, President of InstaMed stated, “We believe that healthcare providers should receive payment as easily and efficiently as a retail business. Of course claim transactions are much more complicated than bankcard transactions, but there is room for improvement by incorporating best-practices and methodologies from the payment industry. Delivering real-time acquisition, processing and responses from our platform to a provider’s environment is the first component of our strategy to achieve our mission.”
ICVS supports claims for all payers and accepts a variety of formats from healthcare provider’s existing systems. ICVS includes HIPAA-Standardized responses that are easy-to-use, understand and available in different human and machine-readable formats. Users can also define custom views, workflows and business rules.
ICVS is offered on the InstaMed Platform, which is available as a web portal based ASP application, through a local Smart Client application, or through a Service Oriented Architecture (SOA) to provide flexible integration into systems and workflow in any healthcare provider environment. Healthcare providers can get started easily as no system or clearinghouse changes are required and no upfront investment is necessary.