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MedeAnalytics Receives Patent Pending for Charge Capture

16-Feb-2011 | Source : AG-IP News | Visits : 6251

EMERYVILLE, CA - MedeAnalytics, a leading provider of healthcare performance management solutions, announced in a press release that it has received a patent pending for automated billing and charge capture for medical bills.

MedeAnalytics Predictive Analytics Scientist and inventor of the patent, David E. Mould, Ph.D. stated, "I was faced with a tough predictive challenge, and the available modeling tools were not a good fit, so I created a new model from scratch and used it to solve the problem."

With Mould's invention, automated auditing of medical bills is performed to improve the accuracy of medical bills, improve efficiency and reduce errors. Missing charges can be identified, so that healthcare providers and suppliers are properly compensated for their services and products. Erroneous charges can also be identified, so that patients and insurance companies are not billed for items incorrectly.

"This predictive analytics model is not a decision tree, neural net, regression equation or cluster," Dr. Mould commented. "It is a new category of model that is self-improving and easy to update. The model will be ideal for our clients operating in a dynamic environment."

Founded in 1994, MedeAnalytics delivers performance management solutions across the healthcare system—including hospitals, physician practices and payers—to ensure accountability and improve financial, operational and clinical outcomes. For more information, visit www.medeanalytics.com.

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