SCOTTSDALE, Ariz., Jan. 18 /PRNewswire-FirstCall/ -- MedCom USA, Inc. , a leading provider of HIPAA compliant healthcare and financial transaction solutions for the healthcare industry is beginning the 2006 calendar year with a range of relationships and programs that will increase sales and product distribution.
Mr. Bill Williams, President and CEO stated, “According to the CMS office of the Actuary, the annual administrative costs of healthcare expenditures combined with the patient share of responsibility exceeds $450 billion per year. The MedCom System is directly targeted to gain market share of these monies. Many of our planning initiatives are coming to fruition as we continue to expand our strategic relationships, increase the functionality of our system and services and build our sales organization.”
Included in these efforts and achievements are the following highlights.
MedCom will be completing real-time dental claims adjudication connectivity in cooperation with TESIA within the next three weeks. This feature significantly expands the capability of the MedCom System for Dentists and allows the company to target over 150,000 dental practitioners in the U.S. with this added component.
The Puerto Rico sales organization, based on initial successes, have expanded their salesperson base and have obtained 500 appointments with physicians over the next 3 months. This still represents the initial stages of this sales program targeting 10,000 plus healthcare offices on the island.
MedCom is completing its connectivity for Benefit Verification for Delta Dental of Arizona within the next three weeks. This will begin an initiative to reach the 2,500 plus dental offices in the state.
MedCom is expanding its ABANCO sales training to over 200 sales people in 15 additional cities over the next three months in the first phase of the program. With these added locations, MedCom will be able to increase its effective sales performance in a wider range of regions in and around these major urban centers.
MedCom has finalized an agreement with Genesis Physician’s 1,600 member Group in Texas to become a preferred provider to the organization. The company is beginning its outreach to the group with a series of targeted mailings and presentations over the next three months.
The MedCom portal, which can interface with any practice management system in the country, has increased its Claims functionality to provide in-depth analysis of claims history and data. This is an important service for clinics and hospitals alike. The introduction of these broadened features has resulted in scheduled appointments with a number of hospital organizations in the next 60 days who represent over 300 locations. In addition, with Medicare parts A and B now on electronic benefit verification through the system, Hospitals are seeing an increased need for the system in their patient access portion of their revenue cycle management.
MedCom has expanded its Benefit Verification functionality to include Medicare Parts A and Parts B. This is providing access to an increased patient base of over 40 million lives. With the addition of the Medicare Parts A and B, MedCom USA continues to have the largest real-time connection to insurance companies for electronic patient eligibility transactions in the country.
According to an October 2005 article in the HFMA, Time for Patient Payment Strategies, over 40% of patient’s deductible levels will be $2,000 or more in 2006. This fact is providing an increased benefit to those physicians and hospitals who can utilize the MedCom System’s Easy Pay processing to capture signatures on file and provide for recurring payments of uncovered balances.
About MedCom USA, Inc.
MedCom USA, Inc. provides innovative solutions for electronically processing HIPAA compliant transactions within the healthcare, financial and dental industry. MedCom USA provides a point of service terminal based transaction package and compatible Web Portal for medical and dental professionals as well as healthcare institutions. MedCom USA offers its clientele the ability to facilitate the following transactions: Real-time Patient Eligibility, Real-time Referral Certification, Real-time Claim Status, Real-time Pre authorization, 100% Paperless Claims Processing and Submission to all United States based health plans and insurance carriers, Patient Easy Pay, Merchant Processing, Electronic Check Guarantee Service, and Accounts Receivable Financing. www.medcomusa.com.
About HIPAA
Health Insurance Portability and Accountability Act of 1996 that requires health providers and health plans to adopt standards for electronic administrative and financial transactions.
Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although MedCom USA, Inc. management believes the expectations reflected in such forward-looking statements are based on reasonable assumptions; it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include industry, competitive and technological changes; risks associated with international operations and foreign currency fluctuations; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and other risks detailed from time to time in MedCom USA, Inc.'s SEC reports, including the company’s most recent 10-K and subsequent 10Q-s.
MedCom USA, Inc.
CONTACT: Kent Barghols, +1-515-276-1180, BARGHOLSB@MSN.COM, for MedComUSA, Inc.
Web site: http://www.medcomusa.com/
