AUSTIN,
Texas, Sept. 17, 2024 /PRNewswire/ -- Altus Nova
Technologies, a leading custom software development firm based in
Austin, Texas, has successfully
completed a pivotal software development project for FinMed, a
trailblazer in healthcare claims management. The new platform,
developed by Altus Nova, is designed
to revolutionize the efficiency of provider-payer interactions,
making healthcare billing more accurate, faster, and more
efficient—ultimately allowing doctors to focus on patient care.
"This project signifies a major advancement
for FinMed and the healthcare providers they serve.."
This innovative solution addresses longstanding challenges in
healthcare billing, where delays and errors in payment processing
have burdened providers. By partnering with Altus Nova, FinMed has implemented a custom
system that automates error correction, streamlines claim
submission, and reduces the payment cycle by up to 90 days. As a
result, healthcare providers using FinMed's platform can now bill
more efficiently, significantly reduce claim errors, and improve
cash flow.
"This project signifies a major advancement for FinMed and
the healthcare providers they serve," said Jason Parrish, General Partner of Altus Nova. "It's been an incredible experience
working with FinMed to develop a solution that simplifies complex
billing systems and delivers real, measurable results to healthcare
organizations."
One of the standout features of the new platform is the
introduction of FinMed's "Pay Forward" system, a cashflow
management tool that provides healthcare providers with micro-loans
at the time of claim submission. This feature allows providers to
access up to 60% of Medicare-approved claim values immediately,
significantly reducing the waiting period for payments and
improving overall business operations.
"We are excited to have partnered with FinMed on this
transformative project. The collaboration allowed us to leverage
our deep technical expertise to bring their vision to life, helping
healthcare providers focus more on patient care while improving
their financial health. We're proud of the solution we've built
together, and we look forward to seeing its impact across the
industry," said Puru Agrawal,
General Partner of Altus
Nova.
The first release of FinMed's new solution is being rolled out
to major healthcare organizations, positioning FinMed and
Altus Nova at the forefront of
HealthTech and FinTech innovation. By automating key aspects of
claim processing and cash flow management, the system strengthens
healthcare businesses, reduces administrative burdens, and enhances
the overall efficiency of the healthcare system.
John Wheeler, CTO and Co-CEO
of FinMed expressed his appreciation, stating "Working with
Altus Nova, we are able to focus on
growing our business through sales and marketing, trusting
Altus Nova to take our input,
define, and execute a product strategy that will deliver our
promise to our customers."
For more information on Altus Nova Technologies, visit
https://altusnova.com/industries/fintech.
About Altus Nova Technologies:
Altus Nova Technologies
is a leading digital product strategy, management, and development
company with over 65 employees. Based in Austin, Texas, the company provides innovative
technology solutions to clients across multiple industries,
including Healthtech, Fintech, Insuretech, and more. Altus Nova turns business vision into
bottom-line advantage with digital product strategy done
right.
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SOURCE Altus Nova