Atlanta, Ga. - Aug. 24, 2006 -- Advanced Medical Pricing Solutions (AMPS), a leading healthcare cost containment company, announced today its hospital billing verification services have yielded an average cost savings on adjusted hospital claims of 13.67 percent over and above PPO discounts during the first half of 2006.
With an average size of claim reviewed of $59,720 this has yielded an average additional dollar reduction of $8,163.67 per claim. AMPS average success (hit) rate on claims greater than $15,000 reviewed is 54.5 percent.
"Hospital billings represent more than 40 percent of annual healthcare expenditures," explains Mike Dendy, CEO of AMPS. "That percentage will only increase as the baby-boomer generation ages and requires more healthcare attention. AMPS evaluates hospital billings to achieve accurate representation of procedures performed and their appropriate fees. When there are discrepancies, we facilitate cost savings for our clients and are delighted to report the significant savings we have achieved during the first half of 2006."
AMPS uses experienced licensed physicians to perform bill reviews, supported by sophisticated software solutions that enable evaluation and comparison of the detailed bill and the medical records. When errors are identified, AMPS negotiates directly with the healthcare provider to correct the billing or reduce the fees contained in the invoice. The net result is a savings to the patient, the insurer and/or the employer.
About AMPS
Atlanta, Ga.-based Advanced Medical Pricing Solutions (AMPS) verifies hospital billing to achieve cost savings for its healthcare payer clients across the country. AMPS also provides a variety of cost-containment services including technical services for out-of-network re-pricing and provider fee negotiations for non-par claims. Founded in 1995, AMPS maintains additional offices in Akron, Ohio and Phoenix, Ariz.
For more information, visit www.advancedpricing.com or call 678-966-5758.