SCOTTSDALE, Ariz., Dec. 14 /PRNewswire-FirstCall/ -- MedCom USA, Inc. (BULLETIN BOARD: EMED) , a leading provider of healthcare and financial transaction solutions for the healthcare industry, will begin implementing its Puerto Rico distribution strategy with the inclusion of Inmediata Corporation of Puerto Rico, an intermediary in the processing, tracking, analysis and management of electronic transactions, on the Island. Having completed connectivity for the 837 claims processing component, MedCom USA and its contracted sales groups will have the capacity to solicit and implement the MedCom System on the Island. This agreement expands its initial connectivity agreement with Inmediata and will benefit MedCom USA by providing an expanded ability to connect the MedCom System Point of Service Terminal solution to the Puerto Rico provider base. This system will provide all financial and healthcare Electronic Data Interchange (EDI) transactions.
This initiative will immediately target over 5,000 of the approximately 10,000 Healthcare provider offices on the island that are currently not utilizing POS or PC based claims equipment and have been seeking an upgrade to expedite payment solutions. The MedCom System provides the updated Financial Self-pay solutions as well as the enhanced features of electronic Healthcare transactions including Real-time Benefit Verification and 100% Paperless Claims Processing that meet this need.
Mr. Bill Williams, President and CEO, MedCom USA stated "This arrangement expands our earlier Inmediata agreement, providing for connectivity through Inmediata, by allowing the solicitation of an expanded base of healthcare customers to utilize our comprehensive transaction solution to expedite electronic transactions. The MedCom Terminal will also add additional financial services, which will help increase cash flow and reduce administrative overhead for the Medical Practice."
"Following our initial arrangement we saw an opportunity to educate our customers about new systems available for operating their businesses. By adding MedCom USA, Inmediata we will have additional ability to provide Medical Providers with an expanded HIPAA-compliant solution for their benefit verification, claims submission and self-pay solutions. This can increase our coverage and add additional value to the provider," stated Mr. Jose Angeles, Chief Operating Officer, Inmediata Corporation.
This program will be initiated in December of this year following training of the sales forces.
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.
About MedCom USA
MedCom USA, Inc. (EMED) provides innovative solutions for electronically processing HIPAA compliant transactions within the healthcare industry. MedCom USA provides a terminal based service package and a compatible Web Portal add-on for physicians, clinics and hospitals and dentists that include the following services: Patient Eligibility, 100% Paperless Claims Processing, Electronic Referrals, Patient Easy Pay, Credit/Debit Cards, Check Guarantee and Accounts Receivable Financing. The MedCom USA Internet address is http://www.medcard.com/.
About Inmediata Corporation
Inmediata, a value-added intermediary in the processing, tracking, analysis and management of electronic transactions, has developed a cost effective platform for aggregation, integration and augmentation of medical billing processes. The advantages of this innovative system include its capability to ease the transition into new HIPAA transaction formats for claim transactions, eligibility verification, claim status and remittance processing. Their Internet address is http://www.inmediata.com/.
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.
This initiative will immediately target over 5,000 of the approximately 10,000 Healthcare provider offices on the island that are currently not utilizing POS or PC based claims equipment and have been seeking an upgrade to expedite payment solutions. The MedCom System provides the updated Financial Self-pay solutions as well as the enhanced features of electronic Healthcare transactions including Real-time Benefit Verification and 100% Paperless Claims Processing that meet this need.
Mr. Bill Williams, President and CEO, MedCom USA stated "This arrangement expands our earlier Inmediata agreement, providing for connectivity through Inmediata, by allowing the solicitation of an expanded base of healthcare customers to utilize our comprehensive transaction solution to expedite electronic transactions. The MedCom Terminal will also add additional financial services, which will help increase cash flow and reduce administrative overhead for the Medical Practice."
"Following our initial arrangement we saw an opportunity to educate our customers about new systems available for operating their businesses. By adding MedCom USA, Inmediata we will have additional ability to provide Medical Providers with an expanded HIPAA-compliant solution for their benefit verification, claims submission and self-pay solutions. This can increase our coverage and add additional value to the provider," stated Mr. Jose Angeles, Chief Operating Officer, Inmediata Corporation.
This program will be initiated in December of this year following training of the sales forces.
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.
About MedCom USA
MedCom USA, Inc. (EMED) provides innovative solutions for electronically processing HIPAA compliant transactions within the healthcare industry. MedCom USA provides a terminal based service package and a compatible Web Portal add-on for physicians, clinics and hospitals and dentists that include the following services: Patient Eligibility, 100% Paperless Claims Processing, Electronic Referrals, Patient Easy Pay, Credit/Debit Cards, Check Guarantee and Accounts Receivable Financing. The MedCom USA Internet address is http://www.medcard.com/.
About Inmediata Corporation
Inmediata, a value-added intermediary in the processing, tracking, analysis and management of electronic transactions, has developed a cost effective platform for aggregation, integration and augmentation of medical billing processes. The advantages of this innovative system include its capability to ease the transition into new HIPAA transaction formats for claim transactions, eligibility verification, claim status and remittance processing. Their Internet address is http://www.inmediata.com/.
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.
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