SCOTTSDALE, Ariz., Oct. 11, 2017 (GLOBE NEWSWIRE) — Certive Solutions Inc. (OTCQB:CTVEF) (CSE:CBP) – (“Certive” or the “Company”), is pleased to announce that effective immediately, the Company has expanded its range of offerings to include a full suite of managed care underpayment services.
Certive’s Omega Division has commenced a review of client files for two of its larger customers and determined that there is a significant opportunity to recover additional managed care underpayment dollars, in addition to that found in Lost Charge Recoveries. Certain clients have favorable terms and conditions in their payer contracts which payers often do not pay accurately. The Company has added resources to identify these payment errors and retains a portion of the recoveries attained for clients as its fees.
The two facilities selected have been targeted due to the favourablity of their contract provisions which should be a predictor of additional incremental revenues. The services are being offered at the date of this press release with the two initial facilities.
Research from the Medical Group Management Association (MGMA) estimates that payers underpay in the U.S. between seven (7%) to eleven (11%) percent, on average. There are several additional categories of service offerings being contemplated by the Company to enhance capacity within managed care.
Additionally, management reports that on an interim basis for the month of October thus far with only 10 days of business, Omega has billed a total of $140,000 in revenue to our clients. This together with accounts receivable collections from September of $26,000 will provide sufficient cash flow to cover all of Omega’s operating costs for the month.
Additional information will be made available as it is forthcoming.
For more information, please visit our website at www.certive.com, or contact Certive directly at 480-922-5327.
Brian Cameron
Chief Financial Officer
[email protected]
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to the U.S. healthcare market. Certive’s claim audit and recovery services, billing services, and software solutions help providers work with payers to efficiently manage the reimbursement process and improve financial performance. Certive’s highly skilled and experienced management team, combined with proprietary workflow and analytics, audit and identify, and bill and collect, underpayments in accordance with contractual obligations between the public or commercial insurance carrier and the designated provider. The healthcare market is changing. Certive works with clients to provide efficient and effective solutions aligned with reform initiatives to improve healthcare and reduce costs.
FORWARD-LOOKING AND OTHER STATEMENTS
This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as “may”, “would”, “could”, “will”, “should”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue” or the negative of these terms or other similar expressions concerning matters that are not historical facts.
A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward looking statements.
Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:
- the ability of the Company and Titan to complete the transactions contemplated in the settlement agreement and to complete the repurchase of Titan assets;
- the effect of continuing operating losses on our ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;
- the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;
- the risks associated with the development of our technology;
- the risks associated with the increase in operating costs from additional development costs and increased staff;
- the timing and nature of feedback from customers; and
- our ability to successfully compete in our targeted markets.
Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.