Revenue Cycle Management from Concuity
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Concuity Announces Next Generation of ClearContracts™ Contract Revenue Cycle Solution

Extended Functionality and Introduction of ClearContracts Intelligence™ Promote Mission of Expedient Cash Recovery for Hospitals and Health Systems

HAYWARD, Calif., August 27, 2003 - Concuity, a trusted provider of contract revenue cycle management solutions for the healthcare industry, today announced the availability of it’s next generation ClearContracts product suite for healthcare providers. This latest release of the Concuity product incorporates a number of new features, and ClearContracts Intelligence™, a sophisticated rules engine and alerting system used to identify and alert hospital administrators of payer non-compliance ? enabling expedient cash recovery. Concuity’s ClearContracts is a suite of Web-based applications that provide hospitals and health systems the ability to effectively manage each step of the Contract Revenue Cycle process; enabling organizations to improve their cash position and reduce accounts receivable. With ClearContracts, hospital financial administrators and contractors are afforded the ability to identify and correct the systemic issues that cause revenue leakage, and develop long-term strategies for combating payer non-compliance. “ClearContracts was designed to allow healthcare organizations to negotiate better contracts, comply with contractual requirements, reduce payment denials and underpayments, and collect what is contractually owed - all resulting in an increase in revenue,” said Robert E. Watson, Concuity’s president and CEO. “In this latest release, the functionality enhancements to our core product suite and the addition of ClearContracts Intelligence enables us to continue our mission of helping hospitals and health systems quickly increase revenue and cash flow.” The newest addition to the suite, ClearContracts Intelligence, is a flexible rules engine that provides the ability to classify and prioritize accounts receivable; triggering automated workflows on collectible accounts. The rules engine helps expedite cash recovery by enabling the user to efficiently sort through the plethora of backlogged accounts and quickly identify those accounts with the highest probability of being collected. The rules engine can also be used to triage accounts into work queues based on the type of work that needs to be completed.

ClearContracts™ Solution Suite

ClearContracts, Concuity’s comprehensive contract revenue cycle management suite, is comprised of feature-rich modules to address each step of the revenue cycle:

About Concuity

Concuity, offers industry-leading technology and service solutions to increase hospital revenue by identifying and correcting payer non-compliance issues in the contract revenue cycle. Founded in 2000 by a group of healthcare industry visionaries, Concuity improves its customers’ bottom lines by delivering technology and service solutions to create and negotiate better contracts, ensure accurate implementation and compliance, and collect what’s owed. Clients include Sutter Health, Stanford Hospitals and Clinics, Covenant Health System, St. Joseph’s Health System and Providence Health System. Concuity is headquartered in Hayward, Calif., with offices throughout the U.S. For more information, call 866-342-4636 or visit www.concuity.com.

Published Aug. 23rd 2003 at 11:31 am.