SAN DIEGO and KING OF PRUSSIA, Pa., Jan. 22, 2020 /PRNewswire/ -- Shadowbox Solutions and WavelandRCM, proudly announce a strategic relationship to modernize the art of capturing accurate insurance information, leveraging Shadowbox's patented technology platform and Waveland's best in class data services and exclusive access to Medicare Beneficiary Identification data giving diagnostic labs, durable medical equipment vendors, and other healthcare providers the information required to efficiently provide services and reduce claim denials.
"The American Medical Association reports that 61% of initial claim denials are due to missing billing information costing the system billions that could otherwise be saving lives." said Greg Stein, Shadowbox CEO, "Backed by federal law, Shadowbox eliminates this waste by targeting the greatest sources of friction in healthcare; inefficient systems and outdated technology."
"Medicare no longer accepts HIC Numbers on claim forms, and rightly so. WavelandRCM can transform HIC-based IDs to the updated Medicare Beneficiary Identification numbers required for providers to successfully file a claim and get paid." said Tony Altieri, Executive Vice President of WavelandRCM. "By moving these services forward to the point of order, healthcare providers obtain clean and complete data before costs are incurred downstream. This is revolutionary."
The federal "21st Century CURES Act" healthcare law reinforced interoperability mandates while introducing new prohibitions on information blocking and other anti-competitive behavior by technology incumbents. The law establishes the government's clear intent to enable innovative technology solutions to address long-standing healthcare challenges.
WavelandRCM is a leading source for patient eligibility and financial disposition data serving US hospitals, laboratories, medical groups, and other ancillary providers. Their proven data curation and integration results in cleaner claims, increased self-pay collections, and increased revenues from enhanced uncompensated care management. For more information please visit www.wavelandrcm.com.
Shadowbox patented a commercially available next-generation secure, compliant, and encrypted multi-view web browser enabling scripted and user-driven no-code integrations as an alternative to traditional API solutions. A San Diego Venture Group 2019 Cool Company, Shadowbox tackles one of the biggest challenges in technology ? connecting data from unconnected systems. For more information see www.shadowbox.solutions
SOURCE Shadowbox, Inc.
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