Published on July 21, 2010 at 6:36 AM
Avisena, a provider of revenue cycle management software and services for physician practices, today announced that the United States Patent and Trademark Office has approved a patent for the company's "system for managing accounts receivables."
“This patent approval is a major milestone in our company's efforts to help physicians decrease denials, improve collections and better manage cash flow in an industry marked by complicated revenue cycles”
The patent covers the proprietary technology and methodology of the company's platform, which simplifies physicians' complex revenue cycles and helps them to efficiently managing their accounts receivables. Combining a robust rules engine with a vast database of industry intelligence, the Avisena solution helps to ensure physician submit clean claims to insurers on the first pass, estimates the true value of a claim and forecasts reimbursement amounts that result in efficient and timely collection of receivables.
"This patent approval is a major milestone in our company's efforts to help physicians decrease denials, improve collections and better manage cash flow in an industry marked by complicated revenue cycles," said Mike Maseda, Avisena's president and CEO. "Combining robust software with billing, coding and collections expertise, we automate back-office processes, help physicians improve practice productivity and achieve results that improve financial performance."
SOURCE Avisena