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Gateway EDI Unveils "99 Percent Club," Offering Club Members Minimum 2-Day Turnaround for Claims PaymentST. LOUIS, MO -- (MARKET WIRE) -- 08/19/04 -- While most of the country continues to fumble around with clumsy claim errors in a new HIPAA environment, Gateway EDI, a rapidly emerging EDI company, has developed a way to make claims submission error-free through a new program it calls the "99 Percent Club," a voluntary customer service program for its provider clients. The rules of the 99 Percent Club are simple, the results are impressive. Any Gateway EDI provider that files claims in less than 15 days from the service date, produces more than 200 claims per month, and maintains an overall claim acceptance rate of 99 percent or better can become a 99 Percent Club member. In exchange, Gateway EDI will commit to file and produce faster claims payments (in as little as two days) which translates into quicker resolution of rejected claims, enhanced cash flow, and overall administrative efficiency. Since formalizing the Club in June, 2004 with 59 members (representing 60,000 claims, totaling $5.1 million), Gateway EDI recovered an estimated $230,000 in revenue from otherwise lost claims, eliminated $90,000 in resubmission costs, and decreased accounts receivable days by at least five days for Club members. "After a of survey of business consultants, health care associations, providers, software vendors, and others revealed extreme discontent about the status of rejected claims and associated costs, we decided to do something about this ongoing challenge and created the 99 Percent Club," says EDI's President and COO Charlotte Martin. "The immediate excitement and commitment from our clients about our new strategy enabled us to produce instant results for Club members," Martin says. As an example, Martin says: "By first submitting 99 percent clean claims, our providers avoid the high cost of the average 30 percent rejected claims, half of which never get re-filed, but were stuck in the 'claims black hole.' Now, 99 Percent Club members report enhanced cash flow, cleaner claims, and equally as important, less time spent on administrative tasks and more on quality patient care," she concludes. About Gateway EDI Emerging as one of the nation's fastest growing health care EDI providers, Gateway EDI (www.gatewayedi.com), offers simple solutions to complex business electronic connectivity challenges. From standard claims processing and status reporting, to sophisticated new technology to flag rejected claims -- all through HIPAA compliant solutions -- Gateway EDI boasts unusually high performance standards; routinely 98 percent of all customer service calls are answered in person with a 92 percent instant resolution. For the fourth consecutive year, the St. Louis Business Journal named Gateway EDI, a privately held company, one of the region's 20 fastest-growing companies businesses in 2004. Media Contact: | |
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