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CompIQ Software

Medical Bill Review Software

For the Casualty & Workers’ Compensation Insurance Market

The CompIQ software is a highly secure, cloud-based platform designed to simplify the medical bill review process for everyone involved. Insurance carriers, third-party administrators, state funds, and cost containment vendors across the United States trust CompIQ for their medical bill review needs.

We proudly deliver industry-leading outcomes in cost savings, quickly implement fee schedule updates to maintain compliance, and offer the agility and flexibility that you should expect in a modern-day software partner.

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How CompIQ’s Medical Bill Review Software Can Help You

Key Features that Help You Save Money, Maintain Compliance, & Streamline Processes

Because there are no rules in the casualty insurance market that govern what a medical provider can bill and not bill, companies must independently adjudicate bills to determine the appropriate and accurate rate of reimbursement. This process can be tedious at best and non-compliant at worst. CompIQ’s medical bill review software can simplify the medical bill review process so that you can save money, maintain compliance, and streamline processes.

1. Extract and Validate Bill Data Quickly & Accurately

Streamlining the medical bill review process starts with quick and accurate data extraction. The CompIQ software can take in both paper and digital images of medical bills and supporting documentation. Our software uses cognitive data capture and optical character recognition (OCR) technology to extract and process data the same way a human would.

Once the bill data is extracted, the software validates and/or corrects any data using confidence scoring. The data is then output for human validation, which is the key to continuously improving our technology. Human validation drives future accuracy by allowing the machine to learn and grow along the way.

2. Identify Cost Savings With Our Powerful Algorithm-Based Technology

Once the data has been extracted and validated, the CompIQ software uses proprietary algorithms to compare each bill to state-specific fee schedules. The rules engine that powers the medical bill review software contains over 10,000 rules written over two decades. This means that our high-powered platform is programmed to identify even the smallest billing discrepancies. With CompIQ, you no longer have to worry about human error leading to missed savings opportunities.

Best of all? Our platform seamlessly integrates with your existing claims platforms, ancillary vendors, eBilling, PPO networks, prescriptions, and utilization review providers so you can enjoy a simple, streamlined process while driving aggressive cost savings. For every $1 billed by a provider, CompIQ customers ultimately reimburse around 28 cents. That is, on average, a 72% medical savings on a national basis.

3. Maintain Compliance

Compliance is king when dealing with 50 states that are dynamic and diverse when it comes to how to correctly pay and process medical bills in their jurisdictions. CompIQ maintains the most compliant platform in the industry.

Our platform’s rules engine relies on NCCI, ICD-10, CPT, DRG, healthcare common procedure coding system, dental, revenue codes, Rx databases, and federal reimbursement schedules to support geographic requirements in all 50 states. Thanks to our proprietary rule sets and highly tenured compliance specialists, we’re able to deploy fee schedule updates within days or weeks—not months. This means you don’t have to worry about falling out of compliance for any reason.

4. Process Payments Directly in the Platform

CompIQ integrates with Zelis to support payment processing for our customer base, right from the software’s dashboard. This opt-in service delivers payment to healthcare providers on behalf of CompIQ’s medical bill review customers. Payments can be delivered via ePayment or physical checks.

The CompIQ software also offers ultimate flexibility, so that you can elect your preferred method of payment. However, our in-app payment integration is a simple and friction-free way to make payments. Today, we have more than 275,000 providers opting into this program.

5. Integrate With Your Existing Technologies

The ability to integrate with any claims system in a transparent and secure manner is what sets CompIQ’s medical billing review software apart. We consider our core competency in this area to be a major competitive advantage, and we pride ourselves on being able to deliver exactly the integration process that you require at a pace and level of quality that is 2-3X faster than our competition.

6. Enjoy Industry-Leading Tech Support & Account Management

When you partner with CompIQ, our technical support team has you covered. We pride ourselves in providing timely and accurate support to address urgent production needs as well as more complex, forward-thinking solutions. Our clients have the ability to easily access support through our web-based ticketing system, toll-free phone line, and email submission.

Our account management team serves as our client’s internal advocates to help resolve issues and drive client feedback throughout the entire organization. Coordinating with product, IT, compliance, and technical support, our account management team is filled with qualified individuals that have a broad range of experience in the bill review process.

What Our Clients Are Saying

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As each client has their own unique set of requests, CompIQ has been up for the challenge by creating unique programming to meet the needs of our clients. Which leads me to comment about the high quality of services delivered starting with their CEO, account management team, customer service technicians and programming teams. CompIQ delivers knowledgeable, timely, detailed responses to our inquiries.

PresidentRegional Managed Care Company
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From the very beginning, another constant we have always appreciated in our relationship with CompIQ is the high level of attention received at all levels of the organization.

Vice PresidentRegional Claims Management Organization
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The attention to detail and service to our Partnership has been spectacular. They are always providing us with updates on the software/programs we utilize, along with being very responsive to our needs.

Director of OperationsRegional Bill Review Company

Our Ancillary Services

When you partner with CompIQ, you gain access to much more than just software. You’ll have the support of our team of experts and additional benefits to make the medical bill review process easier.

Document Management

The first step in the Medical Bill Review process is ensuring high-quality bill data is extracted. We can help with sorting, scanning, and/or data capture services for both physical and digital receipts—including various flexible integrations.

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PPO Services

We’re proud to have access to national, regional, and specialty PPO networks. Our clients can choose to leverage our networks, manage their PPO contracts directly, or design a hybrid approach and get access to the best of both worlds.

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Out of Network Negotiation

When it comes to saving, the CompIQ team is on your side. We can help your team identify opportunities for cost savings, including negotiating and repricing certain bills so that you can take advantage of deep discounts and offer patients the best pricing.

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Outsourced Bill Review

Whether you need to augment or fully outsource your bill review services, CompIQ’s team of highly tenured medical bill review specialists can help. We can guarantee bill processing stability and dependability so that you can focus on the things that matter most.

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Examiner Toolbox

Close claims faster, reduce medical spend, and maximize your effectiveness. The Examiner Toolbox contains all of the tools that claim professionals and leadership teams alike need to take control over medical billing workflows, all in one browser-agnostic, mobile-enabled platform.

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Payment Services

Reduce costs by making payments to providers and vendors directly from the CompIQ software. Seamless integration gives you the ability to reduce the amount of time it takes to get payments adjudicated while providing improved tracking and audit capabilities.

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