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Panacea Announces Innovative Cloud-Based Coding, Compliance and Reimbursement SystemFacilitates Proactive Identification of Coding, Compliance, Quality and Financial Risk and Opportunities (April 25, 2012)
ST. PAUL, MN -- (Marketwire) -- 04/25/12 -- Panacea Healthcare Solutions, Inc., a company specializing in Hospital Coding, Compliance, Reimbursement and Financial Systems and Services, today announced that in Las Vegas on April 29th at the Health Care Compliance Association's Annual Compliance Institute, it will be introducing CLAIMSauditor.com as the industry's most effective and easy-to-use cloud-based technology to assist healthcare providers to proactively identify coding, compliance, and quality of care issues and financial risks and opportunities. The Company announced that the system features an intuitive rules engine allowing coding specialists, revenue cycle experts, financial managers, quality professionals, compliance officers, and others to create customized rules within seconds or to select rules from an ever-increasing library to search multi-year inpatient and outpatient claims database to proactively identify risks and opportunities. The system also interfaces with MediRegs ComplyTrack, created specifically for the health care industry by Wolters Kluwer Law & Business, a complete solution for managing enterprise risk and compliance featuring web-based workflow software, the most comprehensive regulatory content in the industry, and support at every level by health care compliance experts.
Frederick Stodolak, CEO at Panacea, stated, "We are very excited about our new system because for years our clients have wished for timely access to their own data in a way that gives them freedom to do their own data analysis, research and reporting without relying on their already burdened IT department. The system is extremely cost effective because the annual subscription fee can be shared among the HIM, Finance, Compliance, Quality and other department operating budgets and it immediately identifies new incremental net revenue opportunities and potential audit or reimbursement risks. Our beta sites and our own consultants have already added effective rules such as patient safety rules, lost charge rules, DRG under-coding rules, RAC and OIG rules, and rules to evaluate risk related to potential changes in reimbursement for re-admission and hospital acquired conditions."
CLAIMSauditor.com can be licensed by hospitals directly and through the use of web service technology, while vendors can enhance the value of their current offering and data stream by integrating CLAIMSauditor.com to their customer base. Information about CLAIMSauditor.com can be found at www.PanaceaHealthSolutions.com and at the product web-site address.
Panacea Healthcare Solutions, Inc. provides coding, compliance, reimbursement and revenue solutions infused with intelligence and delivered through our consulting, software, publications and webcasts to more than 4,000 U.S. providers. Each one is rooted in Panacea's extensive frontline experience in healthcare finance, coding and compliance.
Chief Operating Officer
Telephone: 863.450.3233 x704
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