Plantation, FL, Aug. 1, 2013 (GLOBE NEWSWIRE) -- To help hospitals address the Hospital ReadmissionReduction Program (HRRP) provision of the Affordable HealthcareAct, Health Revenue AssuranceHoldings, Inc. (OTCBB: HRAA) has developed ReadmissionsVisualizer TM to improve andprotect revenue by predicting which patients are at high risk forreadmissions. Readmissions Visualizer TM, currently beingbeta tested by multiple hospital systems, is a predictive modelinganalytics solution. The product focuses on readmissionimprovement metrics on high risk patients so hospitals can improvetheir readmissions profile. Hospital employees ranging from seniorlevel administrators to care managers can utilizeReadmissions Visualizer TM to identify trends inreadmissions, flag patients that are at risk of being readmittedand prioritize action-oriented plans to reduce their likelihood ofreturning. Under HHRP the Centers of Medicare and Medicaid (CMS) will finehospitals for high rates of Medicaid patients -- treated forconditions that include heart failure and pneumonia -- who arereadmitted within 30 days of being discharged. The program isexpected to save CMS billions of dollars over the next seven yearsand put thousands of hospitals at financial risk if they do notcurb rates. "A typical hospital with 350 beds will lose between $2.5 and $3million over three years if they have a poor readmissions rate. Weknow, from years of working with more than 900 hospitals, which keyindicators improve predictions that a patient is at high risk ofreadmission. These risk factors include poor support systems in thehome, prescription medication payment concerns, accessibility ofhealth services and other social and economic data," said MichaelGallagher, MD, chief medical officer of HRAA. Readmissions Visualizer TM provides hospitalswith the ability to view current inpatient and historicalreadmission information through an intuitive Web interface. Keyfeatures include:
- Readmission Dashboard - View of monthlyReadmission Results for HF, AMI, Pneumonia, and COPD with patientdetail by Practice or Provider.
- Near-Miss Analysis- View ofEmergency Room, Urgent Care and Observation Status to reveal gapsand indicate processes that can be improved.
- Current Risk - View of current censusincluding Read for Admission, History of CHF/AMI/PN, ReadmissionRisk Score, Emergency Room History, and Follow-UpAppointments.
Andrea Clark, chief executive officer of HRAA reported, "Onecurrent customer using theReadmissions Visualizer TM was able to put inplace a plan that included personal contact through follow-up callsto at-risk patients which reduced their readmission rates. We areconfident that other clients will see similar results in the nearfuture."According to the Centers for Medicare and Medicaid Services(CMS) a total of 2,217 hospitals are expected to be penalized inthe first year of the program. Of those 2,217 hospitals, 307 willpay the maximum, one percent penalty of their regular Medicarereimbursements. The penalty cap will increase to two percent in2014 and three percent in 2015. ABOUT HRAA HRAA (OTCBB: HRAA) interprets data to ensure that healthcare isefficient and effective for everyone by pulling medical datatogether to create a predictive window to understand cost andrevenues looking back and going forward. Founded in 2001 and basedout of Plantation, FL, HRAA combines years of industryexpertise with best-in-breed technology to create market leadingbusiness intelligence products and consulting services to ensurehospitals are reimbursed for every pill they prescribe, everyprocedure they perform and every test they administer. HRAAboth trains and supplies the high tech workforce to hospitals togenerate the predictive data used by the whole healthcare systemand offers a full suite of solutions needed to keep up with theever-changing healthcare industry including data analyticssoftware, business intelligence technology, medical coding,auditing, education, revenue cycle consulting, and ICD-10transition solutions. For more information please visit: http://www.hraa.com Caution Regarding Forward LookingStatements Certain statements in this news release and such conference callare forward-looking, including (without limitation) expectations orguidance respecting customer contract expansion, growing revenuesand profits through organic growth and acquisitions, attracting newbusiness that will increase HRAA's revenues, continuing to maintaincosts and consummating any transactions. Undue reliance should notbe placed on such forward-looking statements because the mattersthey describe are subject to known and unknown risks, uncertaintiesand other unpredictable factors, many of which are beyond theCompany's control. The Company's actual results, performance andtrends could differ materially from those indicated or implied bysuch statements as a result of various factors, including (withoutlimitation) the continued strengthening of HRAA's selling andmarketing functions, continued customer satisfaction and contractrenewal, new product development, continued availability of capablededicated personnel, continued cost management, the success andavailability of acquisitions, availability of financing and otherfactors, as well as by factors applicable to most companies such asgeneral economic, competitive and other business and civilconditions. Information regarding certain of those and other riskfactors and cautionary statements that could affect future results,performance or trends are discussed in HRAA's most recent annualreport on Form 10-K, quarterly reports on Form 10-Q, and otherfilings made with the Securities and Exchange Commission from timeto time. All of the Company's forward-looking statements areexpressly qualified by all such risk factors and other cautionarystatements.
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