20 Nov 2020
Tranquilmoney will deliver better efficiency in claim submission and reimbursements to NY state healthcare providers
South Orange, NJ, Nov 20, 2020: Tranquilmoney, Inc., an XML submission partner to the New York Workers’ Compensation Board since 2007, has been listed on the Board’s website on Nov 10, 2020 as one of the only four companies approved by the Board for CMS 1500 XML form submission.
With this, Tranquilmoney can now be the vendor of choice to healthcare providers across New York state in submitting CMS 1500 form for workers’ comp claims in XML format to the WCB
The Board introduced the CMS 1500 form for filing Worker’s compensation claims to simplify the process for healthcare providers. Instead of filling multiple forms such as C-4, EC-4, and so on; Medical practices can now just fill the universal CMS 1500 form. CMS 1500 forms can be submitted in paper as well as electronic format. However, the electronic / XML format is likely to become mandatory from 2021.
While paper claims can still be filed, XML submissions have a clear advantage. XML submissions being electronic, are accurately entered in the system, are secure and speed up the process of claim submissions and therefore reimbursements. XML filing ensures that providers receive an electronic acknowledgement that can be used in the event of any future disputes.
“Tranquilmoney has been building expertise, skills and technology required to submit Workers’ Comp claims in XML format for healthcare providers since 2007. With this new recognition from the Board, the company will soon be adding a 1-click XML submit feature for the CMS 1500 form to its Practice Management software, PracticeTracker”, says Dr. Karun Philip, Chairman and CEO of Tranquilmoney.
Besides XML submissions, Tranquilmoney manages the entire Workers’ compensation billing process for many medical groups in New York state. Its practice management software PracticeTrackerTM has additional features designed to process NY Workers’ Comp billing efficiently.
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About Tranquilmoney, Inc.
Tranquilmoney, Inc. has been a leading healthcare solutions provider in the US since 2001. Their leading-edge technology and proven total quality management systems have established their leadership in receivables management solutions for Physicians, Medical Groups and Retail Pharmacies. Tranquilmoney has contributed to increasing physicians’ income while considerably reducing claim rejections and administrative overheads with practice management solutions like PracticeTrackerTM, EHR and Medical Billing services. The company is headquartered in South Orange, New Jersey, with offices in California and Chennai, India. www.tranquilmoney.com