Valley Oak Systems, Inc., a national provider of claims management software, services and support, has launched iVOS Review Service and Software, a new bill review component that is now integrated into their flagship product, iVOS, a browser-based claims administration system.
“iVOS is a ‘one-system’ solution bringing together bill review and claims management. Integration ultimately streamlines operations, improves turnaround and productivity, reduces errors, decreases medical and administrative costs, and eliminates complicated data exchange. The traditional bill review process was disjointed, involving mail operations and intricate data transfers with third-party vendors to exchange information. This created extra work and often resulted in errors that required additional time and resources to resolve. The iVOS “one-system” solution eliminates this cumbersome and costly process, contributing to a significant return on investment,” said Randy Wheeler, CEO of Valley Oak Systems.
Due to skyrocketing medical costs in workers’ compensation, many
organizations are reportedly demanding a more cost-effective medical bill review process. iVOS Review provides organizations with “total savings” that includes reduced medical, administrative and operational costs.
Valley Oak’s bill review offering includes:
1) iVOS Review Service – Clients outsource their bill review process to Valley Oak’s expert bill review department. Staff members have extensive experience in medical bill review, utilization review, and case management within workers’ comp. Valley Oak increases savings for their clients by also applying utilization review, above and beyond the normal savings achieved from fee schedule reductions and PPO discounts.
2) iVOS Review Software – Clients utilize Valley Oak software to perform their own bill review. iVOS Review automatically calculates appropriate medical fees and PPO discounts. The application then applies the required rules so that each line of every medical bill is repriced consistently and correctly. Reviewers do not have to consult manuals for various fee schedules or manage a paper-based workflow because the schedules and rules are stored within the system. Changes in fee schedules are automatically updated across all jurisdictions via Valley Oak’s browser-based technology.
On the front end of the bill review process, iVOS Review scans bills into the system, enabling organizations to significantly cut back on manual data entry and paper shuffling. The electronic document images are stored with the claim file which enables real-time access and sharing of medical bill information, streamlining workflow and efficiency.
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