
Qualta is a medical coding service for hospitals and hospital-based physicians. This is a potential $7 billion per year market. Today, reimbursement error rates are enormous, averaging 20% of patient encounters in the most complicated specialties. Those errors are mostly due to coding, and are inherent whether the coding is done in-house or outsourced. This typically translates to $10 million to $20 million per year at a hospital, which has a one-to-one profit impact. It also exposes providers to increased liability from Medicare audits and whistleblower lawsuits. Qualta combines technology, process and specialization to reduce provider billing errors to less than one percent. At the same time, Qualta delivers these results with a competitive cost advantage of 40% or more.
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