ATLANTA, Sept. 24, 2007 (PRIME NEWSWIRE) -- MedAvant Healthcare Solutions (MedAvant) (Nasdaq:PILL), a leader in healthcare technology and transaction services, and StrataCare, the premier national bill review software and services company, today announced their partnership for the delivery of StrataCare's workers' compensation eBilling Enterprise Solution. This comprehensive solution meets all the requirements of the Texas e-billing mandate.
The e-billing mandate requires, with some exceptions, providers in Texas to submit electronic workers' compensation bills and attachments to insurance payers beginning in January 2008. According to the mandate, healthcare providers in the state of Texas will be required to submit medical claims in an ANSI 837 format to payers, and payers, in turn, will have to return ERAs (Electronic Remittance Advice) in an ANSI 835 format. ERAs provide an electronic explanation of payments, payment reductions and denials of medical claims submitted to the payer.
Greg Fisher, StrataCare President commented, "The partnership with MedAvant is a critical cornerstone in StrataCare's total eBilling Enterprise Solution in all states. In selecting MedAvant, we believe they represent not only the best service but also share StrataCare's workflow technology philosophy and a commitment to client service and satisfaction. MedAvant's ability to offer providers user friendly solutions for the electronic submission of both worker's compensation bills and corresponding attachments was instrumental in our decision to make them our partner."
"We are very pleased to have been chosen by StrataCare as their partner in providing this e-billing solution," said John Lettko, MedAvant President and Chief Executive Officer. "With MedAvant's industry leading real-time processing capabilities and StrataCare's leadership in bill review and workflow software and services, StrataCare will be able to offer a premier solution to meet the Texas mandate."
StrataCare's e-billing solution will provide complete workflow technology from receiving electronic bills with online approval to the most accurate bill review in the industry and complementary Electronic Funds Transfer (EFT) should a client desire this payment solution.
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)) and remote reporting solutions for medical laboratories. To facilitate these services, MedAvant operates Phoenix(sm), a highly scalable platform which supports real-time connections between healthcare clients. For more information, visit http://www.medavanthealth.com. MedAvant is a trade name of ProxyMed, Inc.
About StrataCare
Founded in 1998, StrataCare provides Windows- and Browser-based national bill review software, workflow and outsource solutions to the workers' compensation payer community. StrataCare's service division, CareSolutions, offers electronic and mail-in bill review services nationwide and its GenSource division provides claims software for the workers' compensation and property and casualty markets. For more information, visit www.stratacare.com or call 800-277-6512.
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.