SOURCE: Panacea Healthcare Solutions, Inc.

Panacea Healthcare Solutions, Inc.

October 23, 2013 08:35 ET

Panacea Demonstrates System at AHIMA Allowing Providers to Proactively Stay One Step Ahead of RACS, Ensure Compliance and Data Quality and Identify Lost Revenue

ST. PAUL, MN--(Marketwired - Oct 23, 2013) -  Panacea Healthcare Solutions, Inc. today announced that it will be conducting demonstrations of its innovative and timely CLAIMSauditor.com system at the AHIMA annual convention in Atlanta, Georgia October 26 through October 30th. The system allows healthcare providers, consultants and auditors to easily access coding, compliance, quality, lost charge and lost revenue rules from a library, or write their own rules, to proactively uncover potential under payments, over payments, coding and compliance issues. Panacea will also demonstrate how the system can be used to monitor coding as it relates to quality of care performance analytics to ensure that provider quality performance is not understated due to improper coding. 

Fred Stodolak, Panacea's CEO, stated, "The demonstration of the CLAIMSauditor system capabilities and enhancements at the AHIMA meeting is very timely, especially given the increased RAC scrutiny, the need for providers to uncover lost revenue and the importance that maintaining accurate coding has on quality indicators and reimbursement. We believe that healthcare information management (HIM) professionals will appreciate having a system that is not a black box solution. In other words, with Panacea's claims auditing system, the logic for every rule can be seen and edited and even a computer novice can write their own RAC, MIC, MAC, lost revenue or other rules and apply those rules to historical, daily claims or abstracting data. 

"Moreover, with DRG payments still representing a large portion of every hospital's revenue stream, Panacea will also be featuring a demonstration at AHIMA of how inpatient cases having a high probability for a coding, compliance or reimbursement discrepancy can be selected in seconds from tens of thousands of records, how any coding changes found upon audit can be entered in the system, regrouped, re-priced and how its CLAIMSauditor system can instantly produce an extensive set of DRG coding and financial impact reports by DRG, coder, physician, payor, reason for change and with accuracy and other statistics illustrated."

Panacea's CLAIMSauditor system distinguishes itself from other vendor systems by collecting itemized bill level data to which custom rules can be applied. The itemized bill provides a more detailed transaction level than is available at the 837 format or Uniform Bill level. The system also facilitates multi-hospital processing and reporting.

To schedule a demonstration at the AHIMA convention or for more information, contact Mike Kennedy at mkennedy@panaceainc.com.

ABOUT PANACEA HEALTHCARE SOLUTIONS
Panacea Healthcare Solutions provides consulting, technology and publishing solutions to hospitals, physicians and other providers throughout the healthcare industry. The MedLearn Publishing division along with nationally recognized news publications ICD10monitor.com and RACmonitor.com provide hard-hitting news and information to more than 50,000 health information management (HIM), compliance and reimbursement professionals. Panacea also produces Monitor Monday and Talk Ten Tuesday, live internet broadcasts featuring interviews with leaders in the RAC, ICD-10 and HIM fields.

Contact Information

  • Contact:
    Media
    Mike Kennedy
    Senior Vice President
    Email Contact
    Telephone: 863.450.3233 x702