SAN DIEGO, Nov. 7, 2014 (GLOBE NEWSWIRE) -- Golden Hour Data Systems, Inc. announces it has entered into a historic Patent Royalty Licensing Agreement with PHI Air Medical LLC, a PHI Company (PHII:NASDAQ). This Licensing agreement provides PHI Air Medical access to Golden Hour's entire patent portfolio which is comprised of 7 patents and 166 claims as issued by the United States Patent and Trademark Office (USPTO).
"Golden Hour is encouraged by PHI Air Medical's decision to license our complete patent portfolio," said Dr. Kevin Hutton, CEO of Golden Hour. "PHI, a strategic partner and valued customer of Golden Hour, recognizes the value of the innovations that Golden Hour has invested in and developed over the years. This historic licensing agreement provides PHI access to our patented products and intellectual property to support the continued success of their business."
The licensing of Golden Hour's full patent portfolio allows PHI Air Medical total control of their strategic information and creates an integrated platform to support their operations and knowledge management by allowing:
- Complete integration of data, information, and knowledge between dispatch, clinical documentation, and revenue cycle services;
- Patented integration and transmission of protected health information and vehicle tracking information using a HIPAA / HITECH compliant encryption method over public networks such as the Internet;
- Integration of systems that compliantly identify billable loaded miles and trigger documentation for deviations and closest appropriate facility adjudication, thus reducing fraud and compliance risk while legally maximizing payment;
- Complete integration and compliant automatic application of location and situational based billing modifiers reducing errors, increasing revenue cycle efficiency, and ensuring reduced fraud risk and highest possible reimbursement;
- Integration with monitoring technology and clinical documentation in compliance with NEMSIS (National EMS Information System);
- Integration of High risk compliance management systems that identify and manage high risk charts;
- Integration of documentation integrity systems that identify and correct charts that are incomplete or will be returned by electronic billing and payment systems.
"We have great respect for Golden Hour, their products, and their investment in the development of innovative, proprietary technologies," explained David Motzkin, President, PHI Air Medical. "We are pleased to be one of the first to license this valuable intellectual property, which provides us important financial and operational benefits. We are grateful for the more than decade-long partnership we have shared and continue to build upon with Golden Hour."
About Golden Hour
Golden Hour is a leading provider of integrated products and services in support of the emergency transportation industry. These services include Computer Aided Dispatch, Clinical Charting, Analytics, and Revenue Cycle Management (RCM). Through a patented integrated approach to data collection, information standardization, and revenue cycle management, Golden Hour helps medical transportation programs optimize operations while remaining compliant and financially successful. Golden Hour is also the parent company of emsCharts, one of the leading clinical charting solutions for both the air and ground transport market. More information can be found at www.goldenhour.com.