U.S. HMO Insurer Invests Over $260,000 in Kofax Software
September 16 2014 - 3:00AM
Business Wire
Solution Streamlines Claims Processing, Ensures
HIPAA Compliance and Interfaces with EpicCare EMR
Kofax® Limited (NASDAQ and LSE: KFX), a leading provider of
smart process applications for the business critical First Mile™ of
customer interactions, today announced that one of the United
States’ largest healthcare maintenance organization (HMO) insurers
has deployed Kofax TotalAgility™, Kofax Capture™, Kofax
Transformation Modules™ and Kofax Medical Claims Add-on Pack™ to
streamline claims processing, ensure compliance with current Health
Insurance Portability and Accountability Act (HIPAA) requirements
and interfaces with the company’s EpicCare software for electronic
medical record (EMR) purposes.
Prior to implementing the Kofax solution, some of the insurer’s
regions were processing medical claims manually while others used
inefficient legacy systems to process more than two million claims
per year. Kofax provided a single platform to standardize and speed
processing, reduce costs, improve compliance and enhance its EMR
repository. The platform’s ability to easily scale as needed for
greater volumes of claims will help the company to eventually meet
its enterprise wide and distributed operations.
“This insurer faced many challenges as a result of having
inconsistent claims processing methods across the U.S.,” commented
Howard Dratler, Executive Vice President of Field Operations at
Kofax. “By using Kofax as their platform for Touchless Processing™,
the customer improved data accuracy, reduced costs and ensured more
consistent HIPAA compliance. The ability to manage exceptions in
near real time has also provided additional business value to the
insurer.”
Kofax TotalAgility provides an essential link between an
organization's systems of engagement and systems of record to help
increase responsiveness to customers, improve service levels, gain
competitive advantage, and better manage and grow businesses while
greatly reducing operating costs.
Kofax Capture provides industry leading scan-to-archive
capabilities by scanning documents and forms to create digital
images, extracting index data for retrieval purposes and delivering
the images and associated data to a variety of repositories and
applications.
Kofax Transformation Modules add document classification, page
separation, data extraction and validation capabilities to Kofax
Capture to drive robust capture-to-process applications.
The Kofax Medical Claims Add-on Pack is designed for Kofax
Transformation Modules™ to support the standard CMS 1500 and UB-04
claims forms. It automatically detects and classifies the different
types of claims forms, including the CMS 1500 (05/08), CMS 1500
(02/12) and UB-04 forms, and uses a variety of image registration
techniques, OCR engines and data locators to automatically read and
extract data from any of 170-400 potentially populated fields on
the CMS 1500 and UB-04 forms.
The sale closed during the fourth quarter of Kofax’s fiscal year
2014 and included over $260,000 in software license revenue.
About Kofax
Kofax is a leading provider of smart process applications for
the business critical First Mile of customer interactions. These
begin with an organization’s systems of engagement, which generate
real time, information intensive communications from customers, and
provide an essential connection to their systems of record, which
are typically large scale, rigid enterprise applications and
repositories not easily adapted to more contemporary technology.
Success in the First Mile can dramatically improve an
organization’s customer experience and greatly reduce operating
costs, thus driving increased competitiveness, growth and
profitability. Kofax software and solutions provide a rapid return
on investment to more than 20,000 customers in financial services,
insurance, government, healthcare, business process outsourcing and
other markets. Kofax delivers these through its own sales and
service organization, and a global network of more than 800
authorized partners in more than 75 countries throughout the
Americas, EMEA and Asia Pacific. For more information, visit
kofax.com.
© 2014 Kofax Limited. Kofax and Kofax TotalAgility are
registered trademarks and First Mile, Kofax Capture, Kofax
Transformation Modules, Kofax Medical Claims Add-on Pack and
Touchless Processing are trademarks of Kofax Limited.
Source: Kofax
Media Contact:Kofax LimitedLaura BrandlinDirector,
Communications+1 (949)
783-1545Laura.brandlin@kofax.comorInvestor Contacts:MKR
Group Inc.Todd Kehrli+1 (323) 468-2300kfx@mkr-group.comorFTI
ConsultingChris Lane+44 (0) 20 3727 1000kofax@fticonsulting.com
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