Announces New Direction Into Growing Healthcare Industry
DORAL, FL - (NewMediaWire) - November 23, 2015 - In Ovations Holdings, Inc. (OTC PINK: INOH) is pleased to announce it has entered into a strategic marketing agreement with Al Lee and Associates, Inc. (ALA) to offer their state-of-the-art medical billing service, enabling medical practices, regional hospitals, and clinical and pathology laboratories to collect more of their billings from insurance companies. According to one CMS study, industry wide, 65% of billings are paid and 35% are denied; and of those paid, many are underpaid.
The problem can be particularly troublesome for laboratories, partially because medical billing personnel are normally trained only for medical practices and billing for laboratories is somewhat different. Additionally, the recent October 1, 2015 implementation of the ICD-10 coding system with about 68,000 disease codes has created tremendous confusion in many medical businesses.
According to Healthcare Business Tech, http://www.healthcarebusinesstech.com/medical-billing/ it is estimated that doctors in the US leave approximately $125 Billion on the table due to poor billing practices. They state, "lt is estimated that up to 80% of medical billing contain errors. Updates and major changes administered with the Health Care Reform Bill increased the number of insured Americans by more than 30,000,000, so proper medical billing procedures are more important than ever." INOH will now be offering the latest technology in medical billing software and services through its association with ALA, throughout the medical community. "We will also focus on helping small-mid sized Hospitals and many of the thousands of Laboratories around the country. Doctors spend an extraordinary amount of time on billing concerns, and the elimination of these will permit more time to be spent on patient care," says In Ovations Holdings, Inc. CEO Rosendo Alverez.
In Ovations Holdings, Inc.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended June 30, 2013, and the Company's Quarterly Report for the first quarter ended September 30, 2013. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
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