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TMCNet:  Kofax Launches Medical Claims Processing Update

[December 11, 2013]

Kofax Launches Medical Claims Processing Update

IRVINE, Calif. --(Business Wire)--

Kofax® Limited (NASDAQ and LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced release 2.6 of its Kofax Medical Claims Add-on Pack to support Centers for Medicare and Medicaid (CMS) regulations related to the Affordable Care Act taking effect in January 2014. The solution turns complex electronic and paper based CMS medical claim forms into accurate, actionable information in a timely and cost effective manner.

Kofax Medical Claims Add-on Pack runs on systems utilizing Kofax Capture™ and Kofax Transformation Modules™ as a pre-configured solution, which substantially reduces the time and effort required to research, design, configure and deploy an automated medical claims processing application. It provides a wide range of cost- and time-saving features, including pre-configured support for the latest CMS 1500 and UB04 claims forms, ICD-9 and ICD-10 code databases and the HIPAA-compliant 5010 electronic data interchange (EDI) export format specified by CMS. It also conforms to the coding rules and standards defined by CMS and features documentation and instructions for customizing systems to meet user specific needs.

"Kofax Medical Claims Add-on Pack is a timely upgrade for existing users and perfect for insurance providers who need to replace an existing solution that is no longer CMS compliant or maintained by the original supplier. It helps reduce data entry errors and lower operating costs in time to address new CMS rgulations related to the Affordable Care Act, which will take effect in January 2014," said Grant Johnson, Chief Marketing Officer of Kofax. "It also enables users to gain operational insights that may not exist today by increasing the visibility of medical claims information throughout the organization."


About Kofax Capture

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. This can significantly reduce retrieval costs while improving regulatory and compliance efforts. Kofax Capture is flexible and scalable, enabling customers to define where and how images are captured and indexed, whether in a home office, remote branch or back office data center.

About Kofax Transformation Modules

Kofax Transformation Modules comprise an integrated platform of applications that streamline various document types into structured electronic information, ready for delivery into business systems and processes. It replaces manual, error-prone and expensive document sorting, filing and data entry processes with assisted and automated document classification, separation and data extraction. It also reduces labor costs, improves productivity and information quality, and accelerates throughput of data to support business decisions and related processes.

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 banking, 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.

©2013 Kofax Limited. Kofax is a registered trademark and First Mile, Kofax Capture and Kofax Transformation Modules are trademarks of Kofax Ltd.

Source (News - Alert): KOFAX


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