No World Borders Closes Private Equity Funding for Delivery of Healthcare Provider and Payer Solutions
October 05, 2010 (PRLEAP.COM) Health NewsNEWPORT BEACH, CA – October 5, 2010 – No World Borders, Inc, a leading healthcare management and IT consulting company closed its second private equity investment round led by Palos Verdes Venture Partners (PVVP) based in Los Angeles, CA. No World Borders is a closely held private firm; details of the financing were not released. "PVVP was attracted to our company because we provide a unique combination of health care reform consulting, a vocabulary services platform that the entire industry needs, and experts in healthcare," said Michael Arrigo, President and CEO of No World Borders.
No World Borders' solutions will help enable hospitals and health systems, payors and software vendors to meet the October 1, 2013 deadline for conversion to ICD-10, the new medical coding standard, as required by the Centers for Medicare and Medicaid Services (CMS). In addition, the solutions help health care companies determine the financial impact of ICD-10.
No World Borders (NWB) end-to-end ICD-10 implementation services include ICD-10 assessments and other services such as:
- Readiness Audit Framework using web based data collection and surveys
- Strategic business roadmap services and ICD-10 implementation gap analysis
- Service Oriented Architecture (SOA) IT deployment consultants
- ICD-10 business roadmap consulting and medical coding ICD-10 training
- Best of breed integration technology, analytics
- Governance and ICD-10 reimbursement models
- Medical management planning and remediation
- Expert advise from nationally recognized U.S. based experts in health care and regulatory compliance
Vocabulary Data Services – VocabularyServer.Net
"One of the most difficult challenges in implementing ICD-10, the new healthcare coding standard, is determining how to move from less detail to more detail, when thousands of codes will be revised or added.
But the truth is that this is much more than a coding system; it's a new reimbursement system affecting the people, processes, cash flow, and systems of every provider and health plan in the U.S. Many aren't yet certain what approach to take to migrate from where they are to the new standards." said Robert Francis, a Partner in No World Borders eHealthcare Practice. The service will enable use of clinical and administrative code sets including ICD-9 CM and ICD-10 CM, SNOMED CT, RxNorm LOINC, HCPCS and others, "…but the real focus is what the business and financial impact is. That's not only good for health care companies, but it is good for patients," continued Francis.
Best of Breed Approach
"Our unique approach to accessing vocabulary and medical terminology will be offered via the Cloud, integrated with legacy systems. By using Service Oriented Architecture (SOA), and Internet standards such as XML we will reduce costs and increase efficiency between physicians, hospitals, service organizations that code medical claims, and health insurance companies. Rather than focusing on individual codes, we will focus on communities and constituencies with real world data and problems that payers and providers will have to comply with in their business," continued Arrigo.
About No World Borders
Founded in 2000, No World Borders is a leading privately held healthcare management and IT consulting company. Its team consults to firms who serve over one third of the U.S. insured population. The company has expertise in HIPAA 5010 electronic data interchange, implementing medical coding standard ICD-10 and enterprise software, and HIPAA Compliance Watch® which monitors changes in healthcare reform and advises companies on the IT and business impact.
No World Borders helps clients see opportunities in regulatory changes to innovate, rather than seeing them as strictly a cost of doing business. Its mission is to help health care payers and providers optimize their operations, and bring to market new products that drive competitive differentiation to serve the health care consumer. The company strives to be agnostic in its approach, helping clients make the best choices in planning for health care reform and new electronic data coding standards. The company is a member of WEDI, the health care industry's Workgroup for Electronic Data Interchange. No World Borders provides both internal and partner solutions to ensure best of breed solutions for its clients and monitors developments in standards organizations such as the Healthcare Information Technology Standards Panel (http://www.hitsp.org) and the American Medical Informatics Association (https://www.amia.org)
To see a related No World Borders press release click here http://bit.ly/icd10implement
To join the list for the No World Borders early experience program for Vocabulary Services, please go to http://www.vocabularyserver.net
For more information on the company, please go to http://www.noworldborders.com