BURLINGTON, Vt., Nov. 7 /PRNewswire-FirstCall/ -- IDX Systems Corporation , a leading provider of healthcare information systems, today announced that Caduceus Inc., a healthcare management services organization, has signed an agreement with IDX that leverages IDX's newest service offering, IDX(R) Flowcast(R) Business Advantage.
Flowcast Business Advantage is a unique and affordable offering that combines best practice services and a leading revenue cycle management (RCM) solution. Under the terms of the agreement, IDX will provide sourced capabilities to Caduceus, including the Flowcast revenue cycle management platform, implementation services and ongoing operational management. The Flowcast Business Advantage offering, expected to be live at Caduceus by February 2006, is designed to improve business performance and enhance patient care by providing access to industry-leading services, processes and software with minimal capital outlay.
Caduceus provides billing, collection, credentialing, coding and consulting services to 11 hospitals and 50 group practices in the New York Metropolitan area. Caduceus is looking to the Flowcast Business Advantage solution to increase its productivity, enhance its business and provide its physician customers with access to top-of-the-line software to manage their patient demographic and insurance information up front, thereby improving collections on the back end.
"The Flowcast Business Advantage offering grants Caduceus access to the power of Flowcast, a leading RCM software solution, with a percentage of revenue arrangement. This positions us for maximum client revenue realization and enables us to collaborate with IDX for growth strategies, while providing access to world-class IT support for our needs today and for the future," stated Jim Bonomo, Senior Vice President of Caduceus. "We have the confidence of knowing that we can grow and expand our operations as necessary, with IDX there to support us. Powered by Flowcast, we now offer services and capabilities not previously available to certain segments of the market, contributing to a competitive advantage that will allow us to outpace and out- service our competition."
"Organizations are constantly challenged with balancing the business of healthcare with their core mission -- delivering high quality patient care," said Jeff Kao, Senior Vice President and General Manager, IDX Flowcast Operating Unit. "Flowcast Business Advantage is designed to help shift that burden, by delivering a unique offering that enables organizations to overcome the financial and resource limitations that historically have kept a 'best practice' approach to revenue cycle management out of reach. Flowcast Business Advantage is the only offering in the market today providing services, best practice workflows, its own world-class RCM software and an integrated EHR solution in a shared risk arrangement."
Flowcast Business Advantage positions organizations to run a smarter business and deliver better patient care. The solution offers:
* Proven best practice workflows
* Rapid activation plan
* Industry-leading practice management and EHR solutions
* Minimal capital outlay
* Expert revenue cycle staffing and management skills
About Caduceus
Caduceus Inc. founded in 1997 is headquartered at 29 West 34th Street New York and serves healthcare providers in the New York Metropolitan area. The company provides billing, collection, credentialing, coding and consulting services to 11 hospitals and 50 physician group practices consisting of approximately 400 physicians generating $130,000,000 charges annually.
About IDX
Founded in 1969, IDX Systems Corporation provides information technology solutions to maximize value in the delivery of healthcare, improve the quality of patient service, enhance medical outcomes, and reduce the costs of care. Our systems are deployed to serve approximately 150,000 physicians and are installed at over 3,400 customer sites, including more than 850 group practices and approximately 370 integrated delivery networks servicing more than 500 hospitals. IDX also provides its enterprise clinical software as a subcontractor to BT, Local Service Provider for the United Kingdom National Health Service's National Programme for Information Technology, an initiative to establish electronic patient records for 50 million patients. The IDX web strategy includes browser technology, e-commerce and web-based tools -- built using Internet architecture -- that facilitate access for patients, physicians and care providers to vital health information and data managed by the IDX clinical, administrative, financial, and managed care products. IDX has approximately 2,400 full-time employees.
IDX and Flowcast are registered trademarks of IDX Investment Corporation.
This press release contains forward-looking statements about IDX Systems Corporation that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are uncertainties or difficulties in developing new services and systems, including Flowcast, difficulties in implementing systems, possible deferral, delay or cancellation by customers of computer system or service purchase decisions, possible delay of system installations and service implementations, development by competitors of new or superior technologies, changing economic, political and regulatory influences on the healthcare industry, possible disruptions in the national economy caused by terrorist activities and foreign conflicts, changes in product pricing policies, governmental regulation of IDX's software and operations, the possibility of product-related liabilities, and factors detailed from time to time in IDX's periodic reports and registration statements filed with the Securities and Exchange Commission, which important factors are incorporated herein by reference. IDX undertakes no obligation to update forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes in future operating results, financial condition or business over time.
For more information, contact:
Kate Cartwright
Media Relations, IDX Systems Corporation
802.859.6009
