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SOURCE Veratad Technologies, LLC
Combined Effort will Reduce Fraud, Prevent Medical Identity Theft and Enhance Revenue Cycle Management
TEANECK, N.J. and CITRUS HEIGHTS, Calif., Feb. 24, 2014 /PRNewswire/ -- Veratad Technologies, LLC (www.veratad.com), a world class provider of virtual identity verification and compliance solutions, and LifeMed ID, Inc., (www.lifemedid.com) the leading U.S. company providing patient identity management solutions leveraging deterministic matching and medical record connectivity, announced today an agreement to seamlessly integrate Veratad's IDMatch(sm) Patient Identity Verification Solutions into the LifeMed SecureReg ID™ Patient Identity Management System. As a result of this partnership and integration effort, the complementing technologies will assist healthcare providers in their efforts to reduce fraud, prevent medical identity theft and drive revenue cycle management.
This partnership will afford healthcare providers subscribing to SecureReg ID and concerned about patient identity management, a tool to verify a patient's personal information such as name, address, date of birth and social security number at the point of registration. It also gives providers the chance to present Knowledge Based Authentication "Out of Wallet" challenge questions (KBA) to verify patient identity while minimizing interaction with a provider's staff.
Veratad's IDMatch(sm) Patient Identity Verification Solutions use multiple trusted and verified data sources containing billions of public records to return an identity validation in sub-second time while maintaining the highest level of patient privacy.
"Just checking a patient's driver's license to verify identity is simply not enough to prevent an incident of medical identity theft," said John E. Ahrens, Veratad's Managing Director. "Of course, in addition to an intentional misuse of another's identity to obtain medical care, unintentional errors in the collection of patient information during a busy registration process can prove to be costly and dangerous. When patient files have inaccurate information recorded, everyone is at risk. This is why we are pleased to partner with an industry leader and innovator like LifeMed ID in offering solutions that address these challenges."
LifeMed ID's SecureReg™ is a proven solution that ensures every patient is correctly matched to only one medical record. This helps to eliminate duplicate and overlay records, keystroke errors, duplicate testing and medical identity fraud, while contributing to patient safety and the security of patient information.
"Veratad's solution not only allows us to ensure the patient identity we are assigning to a patient is being assigned correctly, but also ensures that providers have accurate patient information up-front, which is one of the most important aspects of a healthy revenue cycle," said David Batchelor, LifeMed ID's CEO. "We chose Veratad as an identity verification provider because of their industry leadership, expertise and experience with patient identity verification. Their identity verification solutions will prove to be a valuable addition to our providers using SecureReg ID."
Veratad Technologies, LLC (www.veratad.com) is a provider of both online/real-time and batch Identity Verification and Knowledge Based Authentication Solutions for those who conduct business on the Internet or any business that needs to verify an individual's age or identity.
About LifeMed ID
LifeMed ID is the U.S. industry in leader in preventing fraud, ensuring safety and saving lives. Through its suite of solutions, LifeMed ID eliminates patient misidentification and improves patient safety by providing secure, user friendly healthcare solutions that allow clinicians and patients to have access to their data spanning multiple systems.
For more information visit www.lifemedid.com
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