SOURCE: CodeCorrect

May 06, 2005 11:07 ET

CodeCorrect Signs Agreement to Offer Suite of Chargemaster and Revenue Cycle Products to VHA Member Hospitals

YAKIMA, WA -- (MARKET WIRE) -- May 6, 2005 -- CodeCorrect, Inc. announced today that the company has reached a Services Agreement with VHA Inc., a national alliance of leading not-for-profit health care organizations, to be one of its suppliers for chargemaster and revenue cycle products. Under the agreement CodeCorrect will offer VHA health care organizations across the country discounts on future purchases of CodeCorrect products. The agreement is effective April 15th, 2005 and will run for the next three years.

Currently, more than 165 VHA members are CodeCorrect clients. CodeCorrect products will enable VHA hospitals to effectively manage revenue cycle challenges, such as coding, compliance, denial prevention and medical necessity determination. CodeCorrect also provides proprietary comparative data for hospitals to use in evaluating their revenue cycle operation, and offers timely updates of regulatory changes via e-mails sent directly to departments impacted by the changes.

"CodeCorrect is excited about this opportunity to make our industry-leading products available to VHA member hospitals," said Kerry Martin, CEO of CodeCorrect, Inc. "VHA members now have the opportunity to experience the same financial benefits that nearly 500 CodeCorrect hospital clients have had using CodeCorrect products in their facilities."

"VHA selected CodeCorrect because it is an Internet-based solution and its products are very easy to deploy," said Amy Anthony, vice president of supplier services at VHA. "Because CodeCorrect is an Application Service Provider (ASP), their products are also affordable for smaller hospitals that cannot afford to invest in technology infrastructure."

CodeCorrect's RevenueSource™ Suite consists of four products designed to enable hospitals to monitor, manage, and maintain their revenue cycle operations. The RevenueSource Suite contains:

--  KnowledgeSource™ expedites access to outpatient procedure,
    diagnosis, modifier and pass-through coding intelligence and regulatory
    information to optimize appropriate revenue sourcing and compliance.
--  CDM Manager™ assists hospitals in maintaining an accurate and
    comprehensive charge description master by identifying exceptions and
    opportunities on a line-by-line basis and facilitating internal
    communication of changes.
--  ABN Manager™ captures revenue that would otherwise be written off
    by validating proposed services against local and national policies and if
    necessary, generates a CMS compliant Advance Beneficiary Notification.
--  RevenueDashboard™ assists executive-level and departmental managers
    in monitoring and managing outpatient departments by analyzing services and
    resources consumed.
    
For more information on CodeCorrect, visit www.codecorrect.com or call 877-937-3600.

About CodeCorrect

CodeCorrect is dedicated to protecting the healthcare system by simplifying information and improving communication through the integration of products, knowledge and technology. With online, one-stop coding and compliance solutions, CodeCorrect gives healthcare organizations the tools and information they need to achieve and maintain fiscal health. CodeCorrect solutions have been peer reviewed by the Healthcare Financial Management Association and are trusted and used in nearly 500 hospitals and by thousands of physicians nationwide.

About VHA

VHA Inc. is a national alliance of leading more than 2,400 not-for-profit health care providers that work together to improve the health of the communities they serve. VHA delivers industry leading supply chain management services and enables regional and national member networks to improve clinical and operational performance and drive sustainable results. For more information, visit www.VHA.com.

Contact Information

  • CodeCorrect Contact:
    Darrin C. Lee
    Director of Product Marketing/Product Management
    720.524.9257
    darrinl@codecorrect.com

    CodeCorrect, Inc.
    1200 Chesterly Drive, Suite 260
    Yakima, WA 98902
    877.937.3600
    www.codecorrect.com