NEW USER-FRIENDLY SOFTWARE EMPOWERS PATIENTS TO TAKE CHARGE OF THEIR MEDICAL EXPENSES AND CONTROL RISING HEALTH CARE COSTS. Medical Expense Wizard helps patients reduce financial stresses
In summary, Medical Expense Wizard (MEW) provides practical accounting methods in a software that is easy to use and update. Using this software, patients and caregivers are empowered with the ability to maintain a record of all health care costs. MEW was designed and developed to make it easy to record and audit medical bills, obtain knowledge of insurance payments and benefits, track prescription records and have a general personal accounting system for audit and payment purposes, as well as year-end tax accounting.
DALLAS, TX (PRWEB) September 23, 2004
For many patients and their family members, the biggest challenge of undergoing a serious illness, surgery or injury is not the physical or emotional stress, but the financial stress that comes later. Even with insurance, the endless paper trail and duplication of forms and bills can be overwhelming.
No one knows this scenario better than Dallas resident Pamela Selby Moore who was diagnosed with leukemia in 1997 and underwent a bone marrow transplant in 1998. Moore, a mother of three, health care administrator and daughter of a physician and health care educator, was no stranger to the world of health care. But by becoming a patient instead of a provider, Moore quickly discovered what was severely lacking.
“Our health care system does a pretty good job making sure support is provided for the patient’s physical, mental and emotional needs, but there is very little available to address the financial issues,” explained Moore. “The stress caused by the complicated billing related to health care systems and insurance companies can undermine the complete healing a patient needs.”
Following her own long recovery from cancer, Moore found herself sorting out files of medical expenses and forms for friends who felt confused, hopeless and powerless. Using her health care savvy and knowledge, plus her personal experience as a patient, Moore was determined to create a system that could help patients across all levels. Thus, Medical Expense Wizard was designed and developed. The new software empowers the patient to be in charge of the financial component of their medical experience.
“My vision was to create a user-friendly program for non-medical individuals to fight this inequitable system that seems impossible to navigate – to address this extremely important missing financial component that creates so much stress during and after the illness,” added Moore. “What I discovered is that people were overpaying for their health care just because they didn’t have a good tracking system.”
Medical Expense Wizard organizes the process and makes it CPA/IRS ready. As a personal medical accounting software program, Medical Expense Wizard is designed to provide patients, including Medicare patients and caregivers, the tools and resources necessary with a method for easy, practical accounting and reporting capability for health care costs. It was designed and developed to make it easy to record and audit medical bills, obtain knowledge of insurance payments and benefits, track prescription records and have a general personal accounting system for audit and payment purposes, as well as year-end tax accounting.
This program encompasses a comprehensive, personal approach to patient accounting offering an automated platform that places the user in charge of the medical bill payment process. With minimum effort, a user can enter billing and medical expense information and the software will summarize and audit the information, alerting the user to possible personal overpayments, provider bill discrepancies and insurance benefit payment discrepancies.
The software is complete with tips and tools that include a glossary of medical and insurance terms, IRS tax deduction guidelines, Medicare guidelines, a list of state insurance commissioners, a calculator and a calendar.
“Our rising health care costs are a serious concern for everyone,” said Arnold Rosenthal, a Medical Expense Wizard customer and Medicare patient. “This is a new and smarter way to track and manage your health care expenses even if you do not have a catastrophic situation. Medical Expense Wizard helps me keep track of both the Medicare and supplemental insurance payments and helps in preparing tax returns at the end of the year.”
Medical Enrichment Technology, Inc. was founded in 2000 by health care administrator and cancer survivor Pamela Selby Moore. Medical Expense Wizard is a comprehensive personal medical accounting software program designed to provide patients and caregivers the tools and resources necessary with a method for easy, practical accounting and reporting capability for health care costs. For more information go to www. medicalexpensewizard. com.
Medical Expense Wizard – Fact Sheet
· Medical Expense Wizard (MEW) provides practical accounting methods in a software that is easy to use and update. Using this software, patients and caregivers are empowered with the ability to maintain a record of all health care costs.
· MEW was designed and developed to make it easy to record and audit medical bills, obtain knowledge of insurance payments and benefits, track prescription records and have a general personal accounting system for audit and payment purposes, as well as year-end tax accounting.
· This program encompasses a comprehensive, personal approach to patient accounting offering an automated platform that places the user in charge of the medical bill payment process. With minimum effort, a user can enter billing and medical expense information and the software will summarize and audit the information, alerting the user to possible personal overpayments, provider bill discrepancies and insurance benefit payment discrepancies.
· In addition, the built-in Audit Module alerts the user when the deductible and out-of-pocket limits have been reached.
· Medical Expense Wizard provides a method to determine accurate patient financial responsibility to providers based on insurance benefit information, so that the patient doesn't overpay for medical services. All medical related expenses can be accounted for in the various modules and any or all information combined in the powerful reporting features available.
· On-screen reference modules are available at the push of a button and make information easily accessible such as: definitions of medical and insurance terms, ICD-9 codes, state insurance commissioners addresses and phone numbers, IRS guidelines for tax deductions, Medicare guidelines, auditing tips and some basic rules for filing claims.
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