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BETHESDA, Md., Nov. 22, 2019 /PRNewswire-PRWeb/ -- Collect Rx, the leader in out-of-network reimbursement solutions for healthcare providers, including ambulatory surgery centers, hospitals, behavioral health providers, physician practices and medical and diagnostic labs, announces the launch of the groundbreaking CRXISelect, the largest and most accurate source of reimbursement data on out-of-network claims. Based on Collect Rx's proprietary data and analytics tool CRXIS Business Intelligence Engine, developed to assist providers in obtaining fair out-of-network reimbursements from payors by aggregating data from multiple sources and providing visibility and insight into payor behavior, CRXISelect promises to give providers new tools as they work to ensure payors are reimbursing fairly and correctly.
"CRXISelect represents an entirely new way for providers to level the playing field with payors. More and more, we see insurance carriers refusing to pay their fair share to providers, and reducing patient access to the care they need and have paid their premiums for, and their doctors have requested," according to Collect Rx's CEO John Bartos. "We firmly believe in a patient's right to choose their healthcare provider and a healthcare provider's right to be fairly compensated. CRXISelect will extend the capabilities of the CRXIS Business Intelligence Engine to more doctors and facilities and help keep reimbursement at the true 'usual and customary' rate rather than an arbitrary payor dictated reimbursement."
Served as a subscription, CRXISelect gives providers the actual usual and customary rate that payors have paid for similar procedures in similar geographies. Without this independent confirmation, providers are forced to accept payors offers without any verification. Collect Rx's independent validation results in an average increase of 59% of allowed amount for pre-payment negotiated rates, and average increase of 87% of the initial payment for qualified post-payment appeals based on the industry – standard 'usual and customary rates.'
"We're proud of our continuing efforts to support providers as they care for patients. Our flexible models of extending access to our industry-leading data and analytics represents another step forward in our mission to support improved care quality through fair and equitable reimbursements," said Collect Rx's President Ike Brenner.
To learn more about Collect Rx's CRXISelect, please visit http://www.CollectRx.com.
SOURCE Collect Rx
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"CRXISelect represents an entirely new way for providers to level the playing field with payors. More and more, we see insurance carriers refusing to pay their fair share to providers, and reducing patient access to the care they need and have paid their premiums for, and their doctors have requested," according to Collect Rx's CEO John Bartos. "We firmly believe in a patient's right to choose their healthcare provider and a healthcare provider's right to be fairly compensated. CRXISelect will extend the capabilities of the CRXIS Business Intelligence Engine to more doctors and facilities and help keep reimbursement at the true 'usual and customary' rate rather than an arbitrary payor dictated reimbursement."
Served as a subscription, CRXISelect gives providers the actual usual and customary rate that payors have paid for similar procedures in similar geographies. Without this independent confirmation, providers are forced to accept payors offers without any verification. Collect Rx's independent validation results in an average increase of 59% of allowed amount for pre-payment negotiated rates, and average increase of 87% of the initial payment for qualified post-payment appeals based on the industry – standard 'usual and customary rates.'
"We're proud of our continuing efforts to support providers as they care for patients. Our flexible models of extending access to our industry-leading data and analytics represents another step forward in our mission to support improved care quality through fair and equitable reimbursements," said Collect Rx's President Ike Brenner.
To learn more about Collect Rx's CRXISelect, please visit http://www.CollectRx.com.
SOURCE Collect Rx
