Plantation, FL, Sept. 5, 2013 (GLOBE NEWSWIRE) -- Health Revenue Assurance Holdings Inc. (OTCQB: HRAA), a provider of technology and revenue integrity solutions for healthcare organizations announced today that Otsego Memorial Hospital (OMH) has selected HRAA as a strategic partner in evaluating the impact that the upcoming ICD-10 transition will have on its organization by utilizing ICDVisualizerTM.
OHM will utilize ICDVisualizerTM, HRAA's proprietary business intelligence solution to analyze their medical data for financial, coding and documentation impacts to mitigate risk associated with the ICD-10 transition and thereafter. Specifically, with ICDVisualizerTM's revolutionary mapping features, HRAA's team of subject matter experts will determine Diagnosis-related Group (DRG's) with the greatest risk of financial impact by third party payors, identify unmatched codes based on CMS reimbursement maps, and most frequent principal diagnosis codes vulnerable to payor downgrading upon ICD-10. OHM will be able to estimate its cash flow impact, which is essential for its ICD-10 preparations.
On the Outpatient side, OHM will be able to focus on coding issues differentiated by service lines to visualize what efforts best apply to high volume ancillary services dependent upon orders, versus those optimal for surgeries most dependent upon procedure documentation. ICDVisualizerTM identifies the Local Coverage Determinations (LCDs) applicable to Healthcare Common Procedure Coding System (HCPCS) codes on accounts and associated translation options to help anticipate potential coverage risks with the ability to segment by medical staff and specialty.
OHM is a progressive, independent, fully accredited acute care facility located in Gaylord, Michigan, providing a broad range of quality care and personal services to over 35,000 patients annually. OMH works daily to provide a patient focused regional alliance dedicated to healthcare excellence by providing more than 27 medical specialties, including Cardiovascular Services, Neurosciences, Oncology and Radiology to name a few.
"HRAA is proud to be Otsego Memorial Hospital's partner. Our business relationship goes back 12 years and we are committed to streamlining OMH's ICD-10 transition utilizing our technology solutions, expertise and reliability," said Andrea Clark, Chairman and CEO of HRAA.
More information about HRAA, ICDVisualizerTM, and ICD-10 Transition services is available online at www.hraa.com or by calling 954-472-2340.
About HRAA
Health Revenue Assurance Holdings (OTCQB: HRAA) interprets data to ensure that healthcare is efficient and effective for everyone by pulling medical data together to create a predictive window to understand cost and revenues looking back and going forward. Founded in 2001 and based out of Plantation, FL, HRAA combines years of industry expertise with best-in-breed technology to create market leading business intelligence products and consulting services to ensure hospitals are reimbursed for every pill they prescribe, every procedure they perform and every test they administer. HRAA both trains and supplies the high tech workforce to hospitals to generate the predictive data used by the whole healthcare system and offers a full suite of solutions needed to keep up with the ever-changing healthcare industry including data analytics software, business intelligence technology, medical coding, auditing, education, revenue cycle consulting, and ICD-10 transition solutions. For more information visit: http://www.hraa.com
Caution Regarding Forward Looking Statements
Certain statements in this news release and such conference call are forward-looking, including (without limitation) expectations or guidance respecting customer contract expansion, growing revenues and profits through organic growth and acquisitions, attracting new business that will increase HRAA's revenues, continuing to maintain costs and consummating any transactions. Undue reliance should not be placed on such forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of HRAA's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of those and other risk factors and cautionary statements that could affect future results, performance or trends are discussed in HRAA's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
# # #