IRVINE, Calif., Oct. 28 /PRNewswire-FirstCall/ -- Transax International Limited ("Transax") (BULLETIN BOARD: TNSX) is pleased to advise it has continued installation of its "MedLink" solution into the majority of the major medical laboratories in Brazil which are now generating some 85,000 "real time" transactions per month.
Current installation plans following recent agreements with its medical insurer clients indicates the company will double its transaction volume to about 170,000 laboratory transactions per month following the integration of its proprietary "MedLink" solution to additional medical laboratories over the next three to four months.
Transax "MedLink" Lab / Server solution allows a medical laboratory to be fully integrated to the companies authorizer thereby enabling medical laboratories to undertake real time eligibility, authorization and adjudication of medical claims in a paperless environment offering significant savings in administration for both medical provider and medical insurer.
Americo de Castro President of Transax operating subsidiary in Brazil stated, "Our lab-server solution is the leader in the market of seamlessly integrating medical laboratory health insurance claims for "real time" authorization and adjudication." De Castro further stated, "On an annual basis we have increased our transaction volume to about 1 million claims annually from the medical laboratory environment and with these recent agreements we plan will double this transaction volume to 2 million transactions annually following the integration of a further 10 laboratories to the MedLink network."
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 300,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
Web Site: http://www.transax.com/ Email: info@transax.com Investor Relations Inquiries Mirador Consulting Inc, Boca Raton, Florida Contact Casey Burt, Tel : 877/Mirador or 877-647-2367 Email: cb@miradorconsulting.com
SAFE HARBOR STATEMENT "THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN."
Transax International LimitedCONTACT: Investor Relations, Casey Burt of Mirador Consulting Inc,+1-877-647-2367, cb@miradorconsulting.com, for Transax International Limited
Web site: http://www.transax.com/