Software Helping Healthcare Providers Save Money
Published Apr 08, 2004
Using his own software and the Internet, Memphis entrepreneur Bently Goodwin founded a company that’s helping health-care providers improve cash flow and productivity.
RemitDATA Inc. – started in an incubator in 2000 – is on a mission to help health-care providers decrease payment denial rates. It’s an information technology business that wouldn’t have been possible only a few years ago.
“When I was in the health-care industry, one problem we always had was denial of claims for services rendered to patients,” Goodwin says. “You never could get your arms around how much was paid and how much denied, and of claims being denied, why were they being denied and how to fix it.”
Goodwin’s solution took shape when Medicare offered an electronic remittance device. He then developed software to glean information from the device, creating summary reports showing denial rates and reasons sorted from high dollar to low. That enabled providers to set priorities for filing claims.
Goodwin praises the technology infrastructure in Memphis and the tech-friendly environment that gave him his start. He is especially pleased with the support provided by EmergeMemphis, a nonprofit business incubator. EmergeMemphis has a success rate of 90 percent, ranking it among the most successful start-up programs in the nation.
“EmergeMemphis is just a valuable, valuable resource to have in a community, where an entrepreneur can come up with an idea and get it off the ground with minimal interruptions,” Goodwin says. “Just being in an environment with other entrepreneurs going through the same thing has been invaluable.”
Story by Kay Brookshire
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