ATLANTA, April 4, 2007 (PRIME NEWSWIRE) -- MedAvant Healthcare Solutions (MedAvant) (Nasdaq:PILL), a leader in healthcare technology and transaction services, today announced that its Phoenix(SM) processing system received certification for its real-time and batch processing, validating its interoperability and power to give healthcare providers real-time eligibility and benefits information.
The Council on Affordable Quality Healthcare (CAQH), a nonprofit alliance of health plans, networks and trade associations, announced the certification of MedAvant's system, as well as 17 other health organizations, on April 3. Certified systems meet rules developed by the CAQH Committee on Operating Rules for Information Exchange (CORE). The rules make electronic administrative data communications seamless, streamlined and predictable and often eliminate the need for time-consuming phone calls between healthcare entities.
"MedAvant became a leader in real-time transactions more than five years ago when we created Phoenix," said John Lettko, MedAvant President and Chief Executive Officer. "We are pleased that the CORE certification endorses our use of technology to lessen the healthcare administrative burden."
MedAvant's Phoenix is a transaction processing platform using a service-oriented architecture with multiple processing engines. It accommodates real-time transactions, as well as the more traditional batch transactions, for providers and payers who are not ready for real-time processing of their claim data. MedAvant processes all of its transactions -- which average 750,000 a day -- on the Phoenix system.
"Adoption of the CORE rules by these pioneering organizations proves that the industry is actively contributing ground-breaking solutions," said Jay Gellert, Health Net Inc., President and CEO and Chair of the CAQH Administrative Simplification Committee.
About MedAvant Healthcare Solutions
MedAvant provides information technology used to process transactions within the healthcare industry. MedAvant offers electronic claims processing to healthcare providers, a Preferred Provider Organization called the National Preferred Provider Network (NPPN(TM)), remote reporting solutions for medical laboratories, and electronic prescription delivery for pharmacies. To facilitate these services, MedAvant operates Phoenix(SM), a highly scalable platform which supports real-time connections between healthcare clients. For more information about MedAvant, please visit the Company's website at http://www.medavanthealth.com. MedAvant is a trade name of ProxyMed, Inc.
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About CAQH
CAQH is a catalyst for healthcare industry collaboration on initiatives that simplify and streamline healthcare administration. CAQH solutions help promote quality interactions between plans, providers and other stakeholders, reduce costs and frustrations associated with healthcare administration, facilitate administrative healthcare information exchange and encourage administrative and clinical data integration. Visit www.caqh.org for more information.
Forward Looking Statement
Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. Actual results could differ materially from projected results because of factors such as: the soundness of our business strategies relative to the perceived market opportunities; MedAvant's ability to successfully develop, market, sell, cross-sell, install and upgrade its clinical and financial transaction services and applications to current and new physicians, payers, medical laboratories and pharmacies; the ability to compete effectively on price and support services; MedAvant's ability and that of its business associates to perform satisfactorily under the terms of its contractual obligations, and to comply with various government rules regarding healthcare and patient privacy; entry into markets with vigorous competition, market acceptance of existing products and services, changes in licensing programs, product price discounts, delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels; the availability of competitive products or services; the continued ability to protect the company's intellectual property rights, implementation of operating cost structures that align with revenue growth; uninsured losses; adverse results in legal disputes resulting in liabilities; unanticipated tax liabilities; the effects of a natural disaster or other catastrophic event beyond our control that results in the destruction or disruption of any of our critical business or information technology systems. Any of these factors could cause the actual results to differ materially from the guidance given at this time. For further cautions about the risks of investing in MedAvant, we refer you to the documents MedAvant files from time to time with the Securities and Exchange Commission, including, without limitation, its most recently filed Annual Report on Form 10-K. MedAvant does not assume, and expressly disclaims, any obligation to update information contained in this document. Although this release may remain available on our website or elsewhere, its continued availability does not indicate that we are reaffirming or confirming any of the information contained herein.