Physmark Announces Medimart-iDBx

Physmark Inc. has announced Medimart-iDBx, the first off-the-shelf data mart designed to track and analyze the financial components of patient transactions. Medimart-iDBx allows users to continue using their existing systems and software. Because implementation is fast and non-disruptive to ongoing operations, managed care organizations realize a rapid return on their investment.

To succeed in managed care, providers and payers alike must model delivery of care then plan a prudent financial course by allocating budgets and monitoring utilization. When the unexpected happens, rapid analysis of critical data can help take corrective action. Today, such in-depth analysis is either lacking or requires painstaking software development. Medimart-iDBX gives HMOs, Integrated Delivery networks (IDNs), provider organizations, Third Party Administrators (TPAs), large employers, employer coalitions, and reinsurers the basic framework for successfully monitoring and managing health care delivery.

After Y2K health care organizations are facing the challenge of modernizing their legacy software to provide users Internet access via browsers for querying and reporting. Re-engineering or deploying new software can be a multi-year project with virtually nothing to show in the interim. Medimart-iDBx attempts to be a bridge solution for IDNs and HMOs.

"As soon as eligibility, benefits and claims information is loaded, this data is now easily available for access through the Internet. Users realize an immediate ROI," said Dr. Jacob Kuriyan, president of Physmark. "For managers, Medimart-iDBx's powerful on-line analytical processing (OLAP) tools provide compelling graphical analyses of operational efficiency, contract management and the ability to benchmark treatment efficiency."

Medimart-iDBX incorporates data elements from all claims and encounters submitted by providers on HCFA-1500 and UB-92 forms. These patient details include a record of all visits to health care providers; claims submitted, payments made and balances remaining; procedure and diagnoses codes describing treatment and medical causes; providers' respective specialties; and an optional module that includes pharmacy data. The addition of clinical data is a custom option.

With Medimart-iDBx an employer who spends several hundred dollars monthly for each enrollee can, for an additional amount, compare treatment patterns received against national standards. And with the help of clinical professionals they can adjust and improve the care being delivered to their enrollees.

For more information, visit http://www.physmark.com.