MIAMI, June 5 /PRNewswire-FirstCall/ -- AMICAS, Inc. , a leader in radiology and medical image and information management solutions, launched AMICAS Insight Services, a dramatic increase in future service offerings that will be fully integrated with the Vision Series Financials platform. The launch will be highlighted at the Radiology Business Management Association (RBMA) 2006 Radiology Summit from June 4th -7th, 2006, in Miami, Florida.
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AMICAS Insight Services is a suite of services designed to accelerate the time it takes to convert receivables into cash while reducing the total cost of operations. The Insight Services suite is expected to be deployable in fully customized combinations tailored to meet the specific business goals of any given radiology business. Available AMICAS Insight Services include:
* Electronic Remittance: management of payments for submitted claims in
addition to electronic posting of all Explanation of Benefits.
* Address Enhancement Services: address cleansing services for returned
statements to improve reimbursement and cash flow.
* Standardized Payer Reports: standardized remittance/denial reports to
optimize the cash collection cycle.
* Return Mail Management: fully automated updating of return mail for
patient statements to save time, money, and eliminate manual processes.
* National Change of Address: capability to access national change of
address files for patient statements that are fully integrated with
your AMICAS financial system without manual intervention.
* Electronic Payment: electronic payments for patient statements via
custom Web services portals.
* Electronic Lockbox Payment Processing: automated lockbox payment
processing ANSI 835 ERA for payment of patient statements.
* Electronic Statement Archive: Web-based access to digitally archived
patient statements to facilitate denial management and processing.
Each of these capabilities promotes faster account resolution and reduced cost to service accounts. We believe these improvements will simultaneously improve patient satisfaction while increasing the efficiency of the radiology business, enabling AMICAS customers to save time, money, and eliminate manual processes from their daily workflow. The new AMICAS Insight Services are offered by AMICAS' transaction services group.
Mrs. Janice Rutter, director of the transaction services group for AMICAS, Inc. said, "I'm very excited to launch our new AMICAS Insight Services offerings to our financial customers. With our new services we expect to offer a level of automation and productivity that were previously unavailable. We expect customers to achieve faster turnaround on their account receivables and to do so at a much lower cost," Mrs. Rutter added.
Quantum Medical Business Service is one example of an early adopter customer taking advantage of AMICAS Insight Services. Quantum Medical Business Service specializes in practice management for hospital based physicians in Radiology, Pathology, Emergency Medicine, and Radiation Oncology. "Quantum extensively researched the return on investment regarding patient statements and collections in an effort to minimize costs and maximize efficiency," said Barry Webb, Vice President of Operations for Quantum Medical. "AMICAS Insight Services has helped us realize savings of 11-15% per month versus doing statements in-house."
"Vision Series Financials is now complemented by our newly announced AMICAS Insight Dashboards and AMICAS Insight Services to provide a combination of integration, automation, reporting and predictability in revenue cycle management that I believe positions our customers to be extremely successful," said Mr. Glen Lefeber, vice president of the financial products group at AMICAS, Inc. "As a result of its earlier acquisitions and the experience of many of its employees, AMICAS has developed a deep knowledge and functional product depth based on over 30 years in the radiology financial business."
AMICAS financial products manage over 80 million annual medical transactions and interaction with over 1,000 payers.
Also on display at RBMA 2006 are the AMICAS Vision Series product lines, including the recently introduced AMICAS Office Solutions. AMICAS Office Solutions are a consolidated platform of RIS and PACS for small to medium size radiology operations designed to deliver the high quality imaging business automation that RIS & PACS have traditionally delivered only to larger practices. When combined with Vision Series Document Management and Vision Series Financials, AMICAS Office Solutions creates a best of breed offering in a single server with a lower total cost of ownership and high degree of functionality.
Designed with the specific needs of outpatient radiology in mind, the Vision Series RIS and Vision Series PACS offer functionality to achieve a completely digital radiology operation using state of the art Web technology. Since larger imaging center businesses typically have multiple facilities and distributed workflow needs, specific functionality is required to be successful. The Vision Series RIS & PACS platforms deliver this functionality in a fully Web-based environment:
* Multi-Site Automated Scheduler: designed specifically for imaging
centers with automated drag and drop scheduling for complex bookings.
* Workflow Accelerator: designed to enhance radiologist workflow over
slower networks to allow complete diagnostic quality reading from any
networked PC, anywhere in the world.
* Imaging Dashboard: with "real time worklist," it is designed to
integrate multiple reading radiologists into a single "virtual" real
time environment to deliver enhanced communication and workflow.
* Spoke Servers: provide for acquisition, compression and transfer of
imaging data from remote locations with lower network bandwidth.
* Vision Watch: designed to manage all PACS imaging operations from system
management to management reporting and decision support.
Also on display at RBMA 2006 is the recently debuted AMICAS Vision Reach offering. Vision Reach proactively delivers images, reports, and results from imaging studies to e-mail, Web and wireless devices. It is designed as a full Web portal for referring physicians to provide enhanced services from imaging operations to referring physicians. Vision Reach was first debuted at RSNA 2005 as a work in progress and is scheduled to go into early adopter use in the second half of 2006.
"Imaging businesses have diverse needs, ranging from RIS to PACS to Financials to electronic services which enhance their revenue cycle. AMICAS offers what we believe to be the best-in-class, end-to-end solutions to meet these increasingly complex needs," added Mr. Peter McClennen, president of AMICAS, Inc. "At AMICAS, we work hand-in-hand with our imaging business customers and we are investing significantly in research and development to deliver innovation so our customers can build and operate their businesses more efficiently and profitably. We expect Vision Reach to be a significant innovation that empowers them to grow their business with a one-of-a-kind application designed specifically for referring physicians. With the new AMICAS Insight Services, we look forward to providing customers a level of financial automation and service that will enable them to speed up their revenue cycle at a much lower total cost."
The new AMICAS Insight Services are scheduled to be generally available in the third quarter of 2006.
AMICAS, Vision Series, Vision Watch, Imaging Dashboard, Vision Reach, AMICAS Office Solutions and AMICAS Insight are trademarks or registered trademarks of AMICAS, Inc.
About AMICAS, Inc.
AMICAS, Inc. (http://www.amicas.com/) is a leader in radiology and medical image and information management solutions. The AMICAS Vision Series(TM) products provide a complete, end-to-end solution for imaging centers, ambulatory care facilities, and radiology practices. Acute care and hospital clients are provided a fully-integrated, HIS/RIS-independent PACS, featuring advanced enterprise workflow support and scalable design. Complementing the Vision Series product family is AMICAS Insight(TM) Solutions, formerly known as AMICAS Insight Services(SM), a set of client-centered professional and consulting services that assist our customers with a well-planned transition to a digital enterprise.
Safe Harbor Statement
Except for the historical information herein, the matters discussed in this release include forward-looking statements. The forward-looking statements contained in this release include statements about future product and service availability, performance and implementation. When used in this press release, the words: believes, intends, plans, anticipates, expects, estimates, and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause actual results to differ materially as set forth in AMICAS' most recent filings with the Securities and Exchange Commission. All forward-looking statements in this release are qualified by these cautionary statements and are made only as of the date of this release.
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