News Feed Item

Alleon Capital Partners' Healthcare Unit Teams Up with ADP AdvancedMD to Assist Medical Providers with the ICD-10 Transition

ENGLEWOOD, N.J., March 10, 2014 /PRNewswire/ -- Alleon Healthcare Capital ("Alleon"), a unit of Alleon Capital Partners, LLC focused on providing medical receivables financing and cash flow solutions to medical providers, announces a partnership with ADP® AdvancedMD ("ADP") to lighten the financial burden for any ADP client going through the ICD-10 transition. 

"The industry is bracing for a 30, 60, or even 90-day delay in payment from the insurance carriers," said Leon Chernyavsky, partner, Alleon Capital Partners.  "Every practice should be prepared to withstand a cash crunch and should not wait until the ICD-10 implementation date of October 1, 2014." 

As part of ADP's three-point program Alleon will offer a revenue cycle financing program aimed to minimize the impact of any revenue delay or lock-up caused by ICD-10, as well as other regulatory or industry reasons.  The full press release can be seen here, http://www.marketwired.com/press-release/ADP-AdvancedMD-Announces-ICD-10-Transition-Program-Lighten-Burden-Private-Practices-1883310.htm.

The revenue cycle financing program includes the following two options:

  • Bank statement cash advance: This is an advance against future revenue in the form of a onetime cash advance to medical providers based on a six-month average of gross revenue, typically within 72 hours of application.
  • Accounts receivable based line of credit: This is a loan that provides the flexibility to receive cash sooner based on the provider's accounts receivable. The line of credit supports growth, and establishes a relationship with a financial partner that understands medical revenue cycle management and can help practices deal with the cash flow needs.

ADP clients may fill out a quick online application to be considered for this program.

The International Statistical Classification of Diseases ("ICD") is used by medical providers in the U.S. to classify diagnoses and inpatient procedures.  It will undergo its 10th revision, replace ICD-9, and must be implemented by October 1, 2014.  The new revision is occurring because ICD-9 is over 30 years old and produces limited data about patients' medical conditions and hospital inpatient procedures.  ICD-9 codes are mostly numeric and have 3-5 digits, while ICD-10 codes are more robust, alphanumeric, more descriptive, and contain 3-7 characters.  Although this transition will improve the overall billing procedures it is widely expected to cause delays in payments as medical providers, billing software providers and clearinghouses work out the kinks.

ABOUT ALLEON: Alleon Healthcare Capital, a unit of Alleon Capital Partners LLC, is a specialty finance company focused on providing cash flow solutions to medical providers that are unable to secure financing through conventional sources.  Alleon works with providers nationwide, as long as they receive payments from Medicare, Medicaid, Commercial Insurances, Private Insurances, HMO/PPOs, Managed Care, No-Fault/PIP carriers, Worker's Compensation carriers, and Letter of Protection (Personal Injury) cases. 

Follow us on LinkedIn


Ben Rutkevitz 
VP of Business Development 
[email protected].   

SOURCE Alleon Healthcare Capital

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"Since we launched LinuxONE we learned a lot from our customers. More than anything what they responded to were some very unique security capabilities that we have," explained Mark Figley, Director of LinuxONE Offerings at IBM, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
I love the beginning of the year. It is always enjoyable to see people's predictions for trends in the coming year. Publications like Fortune, CNN Money, Washington Post and the Atlantic speculate about what gadgets and technologies are going to take off in popularity this year, psychics predict which celebrities will have babies and fall in love, and I start to think about trends like DevOps and where the software delivery industry is headed next.CollabNet, Eric Robertson, predicted.
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that "Miami Blockchain Event by FinTechEXPO" has announced that its Call for Papers is now open. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expe...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...