Press Releases and Announcements”One-System” Solution for Claims and Bill Review Launched by Valley Oak Systems: iVOS Review Service and Software Streamlines Workflow and Increases Efficiency in the Claims Management ProcessFebruary 12, 2004 |
| San Ramon, CA – February 12, 2004 – Valley Oak
Systems, Inc., a national provider of claims management software, services and support,
has launched iVOS Review Service and Software, a new bill review component that is now
integrated into their flagship product, iVOS, the leading browser-based claims
administration system. “iVOS is a ‘one-system’ solution bringing together bill review and claims management. Integration ultimately streamlines operations, improves turnaround and productivity, reduces errors, decreases medical and administrative costs, and eliminates complicated data exchange. The traditional bill review process was disjointed, involving mail operations and intricate data transfers with third-party vendors to exchange information. This created extra work and often resulted in errors that required additional time and resources to resolve. The iVOS “one-system” solution eliminates this cumbersome and costly process, contributing to a significant return on investment,” said Randy Wheeler, CEO of Valley Oak Systems. Due to skyrocketing medical costs in workers’ compensation, many organizations are demanding a more cost-effective medical bill review process. iVOS Review provides organizations with “total savings” that includes reduced medical, administrative and operational costs. Valley Oak’s bill review offering includes: 1) iVOS Review Service – Clients outsource their bill review process to Valley Oak’s expert bill review department. Staff members have extensive experience in medical bill review, utilization review, and case management within workers’ compensation. Valley Oak increases savings for their clients by also applying utilization review, above and beyond the normal savings achieved from fee schedule reductions and PPO discounts. 2) iVOS Review Software – Clients utilize Valley Oak software to perform their own bill review. iVOS Review automatically calculates appropriate medical fees and PPO discounts. The application then applies the required rules so that each line of every medical bill is repriced consistently and correctly. Reviewers do not have to consult manuals for various fee schedules or manage a paper-based workflow because the schedules and rules are stored within the system. Changes in fee schedules are automatically updated across all jurisdictions via Valley Oak’s browser-based technology. On the front end of the bill review process, iVOS Review scans bills into the system, enabling organizations to significantly cut back on manual data entry and paper shuffling. The electronic document images are stored with the claim file which enables real-time access and sharing of medical bill information streamlining workflow and efficiency. “By implementing iVOS Review, our claims and bill review processes are now both handled within this ‘one-system’ solution, resulting in a significantly streamlined process. The overall benefits include increased efficiency and considerable savings in time, effort and resources. There’s also a faster turnaround time on bills, which makes our providers happy,” said Scott Schimke, executive director of risk management for Golden State Risk Management Authority. iVOS Review’s streamlined workflow and payment process makes a high level of automation and efficiency possible. Many organizations are turning to iVOS in order to leverage a browser-based system that easily connects all necessary stakeholders, including bill review, claims management, nurse case managers and even litigation. Ultimately, this type of collaboration enables better care for injured workers and improved return-to-work outcomes. About Valley Oak Systems, Inc. Valley Oak Systems, Inc. is a privately held corporation with headquarters in San Ramon, California. Founded in 1994, Valley Oak Systems has relied on the industry experience of its founders to provide high-quality, cost-effective solutions for the claims administration industry. Its flagship product iVOS™ is the leading browser-based, “one-system” solution that integrates claims management with bill review capabilities for multiple lines of insurance. Valley Oak Systems is dedicated to providing the highest quality software, services, and support to enable their clients to meet their goals. Valley Oak has been named for the second year in a row to the Inc. Magazine’s list of the 500 fastest growing private companies, ranked #231 in 2003 and growing 738% in the last five years. For more information, go to www.valleyoak.com, or call (925) 242-4600. #
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