Patent News | "Medversant Issued Second Verification Technology Patent"

By : Market Watch
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Category : Patent News

LOS ANGELES, Apr 02, 2012 (BUSINESS WIRE) -- Medversant Technologies, LLC, which offers the leading healthcare industry solution for provider data management and credentialing, today announced that the United States Patent and Trademark Office has issued a patent entitled: (eqnx:)Electronic Credentials Verification and Management System(eqnx:) (U.S. Patent 8,131,558). The new patent expands upon the original patent first awarded in 2009 (U.S. Patent 7,529,682), which is a foundational patent for the Company. Patent 8,131,558 is credentials record system that creates and maintains all personnel data electronically, captures personnel background data, such as license information, education and training, work experience, performance data and electronic signature at the time of entry using graphical user interfaces through a network. For example, computers with Internet connections may be used by authorized personnel to access, analyze, update and electronically annotate data even while other users are using the same record. The system permits instant, sophisticated analysis of background data to identify relationships among the data, including archived data. Moreover, the system includes the capability to access reference databases for consultation regarding verification of data for accuracy on a continuous basis. The system also provides for an automated auditing process to ensure data integrity and may also include the capability to incorporate legacy data, such as paper files and mainframe data, for each personnel record.

The new patent significantly advances the Company's position in provider data management and covers additional technologies that allow healthcare organizations to manage provider information.

Matthew Haddad, president and CEO of Medversant, says, "Accurate, up-to-date and accessible provider information is vital to efficient management of healthcare outcomes. Our powerful credentialing verification system is designed to eliminate the financial burden of fraud, waste and abuse that defines the nation(eqnx:)s current healthcare system. Provider data has become integral to effective healthcare administration,(eqnx:) Haddad adds. This key patent solidifies our footprint in the provider data management arena, and protects Medversant from possible incursions."

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