/C O R R E C T I O N -- Retrieve Medical Holdings, Inc./

Rhea-AI Summary

Retrieve Medical Holdings (OTC Pink: RMHI) has emphasized its commitment to compliance amid increased scrutiny of Medicare Advantage billing practices. The company's patent-pending Retrieve Dx technology acts as a virtual research assistant, presenting potential diagnoses from patient records before physician finalization.

The announcement comes as Medicare Advantage programs, representing $462 billion (54%) of federal Medicare spending and serving 32.8 million beneficiaries across 3,500 plans, face intense scrutiny. Retrieve's preprocessing technology ensures accurate diagnosis submissions by integrating research assistant functions without disrupting clinical workflow.

Unlike systems that use AI to retroactively add diagnoses, Retrieve Dx operates prospectively, supporting accurate coding from the outset while maintaining physician control over the CDI process. The company emphasizes that its approach prevents False Claims Act violations by avoiding unsupported diagnosis additions through template addenda forms.

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In the news release, Retrieve Medical, Inc. Emphasizes Proactive Compliance Amidst Upcoding Scrutiny: Our Patent Pending Preprocessor has Multi-billion Dollar Market Potential, issued 28-Feb-2025 by Retrieve Medical Holdings, Inc. over PR Newswire, we are advised by the company that their stock ticker has been added to the release. The complete, corrected release follows:

Retrieve Medical, Inc. Emphasizes Proactive Compliance Amidst Upcoding Scrutiny: Our Patent Pending Preprocessor has Multi-billion Dollar Market Potential

BEDMINSTER, N.J., Feb. 28, 2025 /PRNewswire/ -- In light of recent reports regarding investigations into Medicare Advantage billing practices, Retrieve Medical, Inc. (OTC Pink: RMHI) is reinforcing its commitment to compliance and highlighting the distinct difference between its Retrieve Dx technology and methods that could be vulnerable to upcoding. Retrieve has always used the electronic medical record along with a physician's validation to ensure accuracy and compliance in all of its documentation. This is the cornerstone of Retrieve Medical's technology.

Recent articles have highlighted the intense scrutiny on Medicare Advantage programs, which represent a significant portion ($462 billion, or 54%) of total federal Medicare spending. With over 3,500 Medicare Advantage plans serving 32.8 million beneficiaries in the United States, the accuracy and integrity of billing practices are of paramount importance.

Retrieve Medical, Inc. is committed to ensuring proper and accurate diagnosis submissions. Acting as a virtual research assistant, Retrieve Dx presents potential additional diagnoses directly from the patient record before the physician finalizes their diagnosis. This prospective approach ensures that all relevant information is considered during the initial diagnostic process, supporting accurate coding from the outset.

Retrieve Medical Holdings has concentrated heavily on design parameters that emphasize physicians' control of the CDI process while integrating the research assistant functions in a way that respects both the integrity of the interaction of the clinician and patient and the clinician workflow. Our patent pending " preprocessing" functions put fact-based findings, with associated annotations in an easily adoptable format, where they can be considered as part of the patient visit flow without disturbing the rhythm of patient care or documentation. Retrieve does not use AI tools to "nudge" providers into retroactively adding unsupported diagnoses via template addenda forms; therefore, Retrieve is not at risk of violating The False Claims Act.

"We understand the concerns surrounding upcoding and the potential for improper billing practices," says Retrieve's Chairman, Dr. Mark Rosenberg. "At Retrieve Medical, our technology is designed to prevent upcoding by providing physicians with a comprehensive view of the patient's health record at the point of diagnosis. Our prospective approach ensures transparency and accuracy, aligning with the highest standards of ethical billing."

"The current investigations validate our technology," adds Dr. Donald Thomas, Chief Medical Officer. "We anticipate increasing market recognition as the importance of compliance becomes ever more apparent."

Retrieve Medical, Inc. is dedicated to upholding the highest standards of integrity and accuracy in medical documentation. Retrieve Dx is a testament to this commitment, providing a valuable tool for physicians and healthcare organizations seeking to navigate the complexities of Medicare Advantage with confidence and compliance.

About Retrieve Medical, Inc.
Retrieve Medical, Inc. is a leading provider of innovative solutions of prospective diagnostic tools for the healthcare industry. Committed to improving accuracy and efficiency in medical billing, Retrieve Medical, Inc. empowers healthcare providers with cutting-edge technology and supports a culture of compliance and ethical practice.

For more information, visit Retrieve Medical, Inc. at www.retrievemedical.com. 

Contact info:  Harriet Donnelly, CMO
Retrieve Medical, Inc.
908-392-3801
hdonnelly@retrievemedical.com

View original content:https://www.prnewswire.com/news-releases/retrieve-medical-inc-emphasizes-proactive-compliance-amidst-upcoding-scrutiny-our-patent-pending-preprocessor-has-multi-billion-dollar-market-potential-302388149.html

SOURCE Retrieve Medical Holdings, Inc.

FAQ

How does Retrieve Medical's (RMHI) technology prevent Medicare Advantage upcoding?

Retrieve Dx presents potential diagnoses from patient records before physician finalization, ensuring prospective accuracy rather than retroactive additions, and requires physician validation for all documentation.

What is the market size for Retrieve Medical's (RMHI) Medicare Advantage compliance solution?

The market spans 3,500 Medicare Advantage plans serving 32.8 million beneficiaries, with total federal Medicare Advantage spending at $462 billion (54% of Medicare budget).

How does Retrieve Medical's (RMHI) preprocessing technology differ from competitors?

Unlike AI systems that suggest retroactive diagnosis additions, Retrieve's patent-pending preprocessor integrates with physician workflow and requires direct physician validation of all diagnoses.

What are the key features of Retrieve Medical's (RMHI) Dx platform announced in February 2025?

The platform functions as a virtual research assistant, presents fact-based findings with annotations, integrates with patient visit flow, and maintains physician control over the CDI process.

How does Retrieve Medical (RMHI) ensure compliance with the False Claims Act?

The company avoids violation by not using AI to 'nudge' providers into retroactively adding unsupported diagnoses via template addenda forms.