Patientkeeper Awarded U.S. Patent for Automating Physician Charge Capture Through Innovative Software Technology
Charge Capture Technology Streamlines the Billing Process, Saving Time, Improving Accuracy, and Increasing Revenue
Boston, Mass. – October 16, 2006 – PatientKeeper®, Inc., a leading provider of physician information systems, today announced that it has been awarded patent number 7,110,955 by the U.S. Patent and Trademark Office for its charge capture software. The patent, “A Device For Automating Billing Reimbursement” pertains to PatientKeeper’s innovative use of a PDA to automate the manual, paper intensive process of physician charge capture. This software has been revolutionary in helping to eliminate handoffs, save physicians time, improve the accuracy of billing and increase revenue and cash collections.
Hospitals across the country lose millions of dollars every year due to the inefficiencies of paper-based billing process. According to an October 2005 report by the Healthcare Financial Management Association, providers, on average, lose five percent of gross revenues per year, which can translate into millions of dollars for a single organization. Some of the sources of lost revenue include lost charge slips, incomplete charge slips, long delays in charge submission, and inaccurately coded charges that are denied by the insurance carriers. PatientKeeper Charge Capture addresses these issues.
"Virtually every healthcare organization has challenges with paper-based billing processes. Before PatientKeeper, physicians at many of the leading healthcare institutions were literally keeping track of their charges on 3x5 index cards," said Paul W. Brient, president and CEO of PatientKeeper, Inc. "By awarding this patent, the U.S. Patent and Trademark Office recognizes PatientKeeper's pioneering work in developing a solution that automates and streamlines the physician component of the billing process. This allows physicians to spend more time with their patients while improving their financial performance through increased cash flow and reduced claim denials."
Only PatientKeeper is designed to support a physician throughout the entire day, across all settings of care. Supporting any tablet or PC running a Web browser as well as Palm OS® and Windows Mobile® devices, PatientKeeper's applications allow physicians to access their patients' electronic records, write prescriptions, enter charges for services, document patient encounters, and securely send messages to other caregivers – all in a single, integrated environment.
PatientKeeper is an integral part of the strategies of organizations across the healthcare continuum – ranging from small physician practices to community hospitals to major academic medical centers to some of the largest health systems in the country. PatientKeeper’s customer base now includes over 100 organizations, representing over 300 hospitals.
About PatientKeeper
PatientKeeper®, Inc. provides physicians with software that delivers clinical and financial benefits. Only PatientKeeper is designed to support a physician through the entire day. At any time, anywhere, physicians can access their patients' electronic records, write prescriptions, enter charges, dictate notes, document encounters, place orders, or send secure messages to other caregivers – all in a single integrated environment. PatientKeeper has been recognized with the 2006 Microsoft Healthcare User Group (MS-HUG) Award, 2006 and 2005 AMDIS (Association of Medical Directors of Information Systems) Awards for clients' successes, 2005 Frost & Sullivan Award for Industry Innovation and Advancement, and other industry awards. For more information, visit www.patientkeeper.com or call 617-987-0300.
Contact
Stephen S. Hau
PatientKeeper
(617) 987-0304
E-mail