MARKETPLACE CALLING FOR SERVICE ORGANIZATIONS TO SHOW STRONG FINANCIAL CONTROLS
January 23, 2012 – Chicago, IL – Rising Medical Solutions receives affirmation of its accounting, technology and security practices with the successful completion of a Statement on Standards for Attestation Engagements No. 16 (SSAE 16) audit and receipt of its Service Organization Controls Report (SOC1 Report Type II).
The SSAE 16 supersedes the Statement on Auditing Standards No. 70 (SAS 70), with the SOC Type I and Type II Reports now falling under SSAE 16 guidance. As released in September 2011, Rising was an early adopter of SSAE 16 with respect to the initial step of obtaining a SOC1 Report Type I. Now Blackman Kallick, an independent accounting and auditing firm, has issued the Type II Report indicating that Rising’s Provider Payments System fully satisfies all audit and test criteria.
“Our entire infrastructure is developed to safeguard our clients’ data and assets, as well as our own,” says Thomas Galvan, Rising’s Chief Financial Officer. “The SSAE 16 requires a company to operate with a greater focus on risk and has more stringent reporting requirements than former SAS 70 reports, so this validation by an independent third-party provides assurance that our system operates effectively and in the appropriate internal control environment.”
Rising’s Chief Executive Officer, Jason Beans has seen firsthand an increasing emphasis on SSAE 16 in his industry. “Not only do we have hundreds of millions of client dollars moving through our system with respect to our Medical Bill Review and MSA Trust Account products, we also manage sensitive medical data. That’s why it’s crucial that we provide customers with complete confidence in our services, payment processing and controls.”
About Rising Medical Solutions Inc.
Rising Medical Solutions is a national medical-financial solutions firm that provides medical bill review, hospital bill review and medical cost containment services to the workers' compensation, auto, liability and group health markets. Inc. magazine and the Private Company Index (PCI) rank the Chicago-based company as one of the fastest growing private enterprises in America.
Leslie Yeransian - 617.733.1225 / firstname.lastname@example.org