Lanham, Md. — Pitney Bowes Group 1 Software announced that Companion Data Services LLC (CDS), a provider of information technology services to support public health insurance programs administered by the Centers for Medicare & Medicaid Services (CMS), has selected its Finalist address quality technology to cleanse addresses and better process insurance claims.
CDS is one of three nationwide enterprise data centers (EDC) that support Medicare claims processing across the United States. According to company, CDS helps Medicare accommodate a growing claims volume, standardize operations, expand electronic services, bolster security and lower costs. CDS has a contract with CMS to process approximately 800 million claims annually that are submitted by hospitals and physicians in 30 states, the District of Columbia and Puerto Rico. This represents about 65% of all Medicare claims in the country.
According to Group 1, Finalist validates, standardizes and corrects addresses, and appends postal codes in accordance with the United States Postal Service (USPS) CASS certification requirements. It also is designed to enable CDS to obtain the maximum postage discounts and reduce the amount of undeliverable-as-addressed mail, providing Medicare with timely delivery of customer communications.
“CDS continually seeks innovative and emerging technical solutions to improve business performance,” says Steve Hammons, VP and COO, CDS. “Finalist has been the internal standard at CDS and its parent company for more than 20 years, and easily integrates into our claims management system. Our confidence and familiarity with the solution will help CDS better manage Medicare operations.”
“As the volume of Medicare insurance claims grows, carriers look for technologies that make claims processing more efficient, and address quality is one area that can make a tremendous difference in cutting costs and securing timely delivery of customer communications,” says Bill Sinn, strategic industry manager, insurance, for Pitney Bowes Group 1 Software. “CDS recognizes that address quality plays a key role in improving Medicare’s productivity, and since its original implementation in 1988, Finalist has provided CDS and its parent company with industry leading address accuracy.”
Source: Pitney Bowes Group 1 Software
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