Overview
Medrium provides web-based billing solutions that optimize the reimbursement process and expedite payment for hospital-based physician specialists and medical practices. On average, only 80% of outsourced medical claims and 75% of claims submitted through physician office staff are paid upon first submission. With a first pass acceptance of 93%, Medrium is ahead of competition because of its long-standing expertise in medical billing for the specialist physician. In addition to faster reimbursement for services delivered, physicians benefit from the convenience and flexibility of a user-friendly, web-based solution that offers full transparency into the lifecycle of each claim, real-time eligibility verification and 24/7 access to claims’ status and payment processing.
Medrium offers two flexible options for hospital-based physician specialists and medical practices: Business Process Outsource, an outsourced, end-to-end billing management service; and Custom Practice Management, a Software-as-a-Service license, which reduces up-front costs associated with software licensing, but gives a medical practice full control over its billing.
As a custom-built, web-based system, Medrium’s technology is infinitely scaleable to support rapid expansion, as well as the addition of new Payors’ coding requirements, allowing the Company to consolidate the leading specialist billing practices and rapidly build critical mass - delivering and building value clients, employees and shareholders alike.
Medrium has attracted capital from prominent investors and funds, including:
- Aurum Reality Associates, LLC
- Delta Opportunity Fund, Ltd.
- Mosaix Ventures
- NGN Capital
- Overbrook Fund
- Quadrant Capital
- SIF Investment Company Ltd
- Ticonderoga Capital