RealMed, a provider of web-based revenue cycle management solutions for healthcare providers, hospitals and payers, announced a signed contract with Baltimore-based Johns Hopkins University (JHU) for Internet-based real-time adjudication and processing of electronic claims transactions, real-time claims editing, automatic claims status and electronic remittance advice management.
RealMed will provide the Clinical Practice Association of The Johns Hopkins University School of Medicine with the ability to electronically submit CareFirst Blue Cross and Blue Shield claims for immediate real-time adjudication and more rapid payment. In addition, RealMed’s interactive claims editing feature will clearly identify and highlight data elements that would have caused claims to be rejected.
“We are pleased to add Johns Hopkins to our growing client base in the Mid-Atlantic region,” said Chet Burrell, chairman and CEO of RealMed. “RealMed differentiates itself from the rest of the industry by increased speed of adjudication and payment and richness of information it can pull back from our directly connected payers.”
By using RealMed, the JHU billing staff will reportedly be able to make online corrections to claims with errors prior to payer submission, thereby eliminating delays and reducing staff time spent following up on denied or adjudicated claims and saving administrative costs for both JHU and CareFirst. Further, when RealMed’s real-time claims adjudication is linked to electronic remittance and EFT payment capabilities, overall speed of payment should reportedly be greatly enhanced.
JHU will have full access to RealMed’s services during the first quarter of 2005.
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