NEW YORK, June 6, 2013 (GLOBE NEWSWIRE) -- First Independence Corp. (OTCQB:FICF), with its subsidiary, The Codesmart™ Group, Inc. (collectively, "Codesmart"), a premier ICD-10 education and solutions group that offers CODESMART™ UNIVERSITY, its on-line education solution and customizable training solutions, announces today that its CODESMART™ UNIVERSITY product is the exclusive strategic partner for ICD-10 education and consulting services to Jvion, which will exclusively market and provide CODESMART™ UNIVERSITY products to their clients in the healthcare industry.
"This is an important partnership for CODESMART™ UNIVERSITY as it allows us to directly reach large numbers of experienced coders who will be integral to maintaining the workflow once ICD-10 is implemented," said Ira Shapiro, Chairman and CEO of CodeSmart. "Jvion's client base includes some of the top hospital and health systems in the country, and we believe that CODESMART™ UNIVERSITY is designed to best ensure continued ICD-10 compliance and eventually maximize reimbursement potential."
Jvion is a healthcare technology company addressing the financial and operational impacts resulting from mandated reforms and compliance activities. The company offers a suite of Big Data-enabled software solutions to reduce the financial impact and burden of the ICD-10 conversion while helping providers protect their revenues from increased financial waste associated with mandated changes and increased payor scrutiny. Jvion's solutions are powered by its proprietary Bonobo Big Data Platform™, which detects otherwise hidden patterns of risk. It is through these predictive modeling capabilities that Jvion helps hospitals reduce losses affordably and in a patient-centered way. This means that providers get to keep more of their revenues so they can focus on what they do best—delivering care. The company has received substantial recognition for its capabilities including selection as the HIMSS ICD-10 financial risk calculator provider and the financial lead for the Center for Medicare & Medicaid Services (CMS) National ICD-10 Testing Pilot.
ICD-10
ICD-10, or the tenth revision of the International Classification of Diseases is a World Health Organization-approved designation of the aspects of disease treatment that include categories of diseases and treatment modalities for them, broken down in to more than 141,000 designations. The previous ICD had only 17,000 codes, diagnoses and procedures. The United States is among the last countries in the world to adopt these standards, but the Department of Health and Human Services has mandated that all medical practices, hospitals and other medical record keeping organization be trained and ICD-10 compliant by October 1, 2014. This is essential as the Center for Medicare and Medicaid services will also be adopting the ICD-10 standard and will require proper medical coding in order to provide reimbursement.
About Codesmart™
First Independence Corp. (OTCQB:FICF) with its subsidiary, The Codesmart Group, Inc., is a premier national subject matter expert for ICD-10 education and compliance in the United States. Its product, CODESMART™ UNIVERSITY, is an on-line program of study for existing coders, new coders, clinicians, and healthcare roles of all types. CODESMART UNIVERSITY was created by a combination of a leading panel of ICD-10 subject matter experts and a major four-year accredited university, which contributed the nation's top course designers and a platform that already provides interactive education to more than 60,000 students per year in degree programs. The ICD-10 training also includes live professors who work with and guide students through the programs of study in ICD-10.
CODESMART™ UNIVERSITY is endorsed by over 60 colleges and universities nationwide for its quality of education. The Codesmart Group, Inc. also provides solutions for ICD-10 transitions, outsource coding, coding audits, critical documentation improvement and the revenue cycle continuum.
To learn more about CODESMART™ UNIVERSITY's proprietary programs, visit www.codesmartuniversity.org.