DEERFIELD BEACH, Fla., Feb. 5, 2004 (PRIMEZONE) -- MediCompliant Solutions, Inc., a division of iBX Group, Inc., (OTCBB:IBXG) that enables healthcare organizations to achieve and maintain compliance with today's increasingly complex regulations, is entering into a strategic partnership with Dame Practice Management of Hutchinson Island, Fla., a well-established national risk management services company that works closely with various regulatory agencies and the Florida Board of Medicine.
Through this complementary partnership, MediCompliant Solutions will be able to offer its existing clients -- primarily physician groups and other small-to-medium-sized healthcare organizations -- risk management services such as OSHA compliance and CLIA certification required for laboratories and operating rooms, while offering Dame's existing clients the range of MediCompliant Solutions' current services. MediCompliant Solutions' current focus is in providing legal expertise regarding the wide-reaching requirements of the Health Insurance Portability and Accountability Act (HIPAA) and intricate Medicare standards.
"This partnership will allow us to offer our clients an even more comprehensive solution to the ever-increasing burden of legislation," said Lauren Cohen, Managing Director for MediCompliant Solutions. "With more and more healthcare providers finding that outside expertise is a necessity in today's regulatory climate, we strive to offer as many value-added services under our umbrella as we possibly can."
MediCompliant Solutions has developed a fee structure that allows healthcare providers to receive a complete legal work-up with a simple down payment and unlimited legal consultations for an inexpensive monthly fee. With the purchase of this cost-effective "insurance policy," clients can protect themselves from costly investigations and penalties by demonstrating the "good-faith effort" to maintain compliance that government investigators require. The company also makes available several products to help healthcare providers create "paperless" offices, as well as document their efforts to comply with the new regulations. These include an electronic tablet that captures patient signatures upon arrival at doctors' offices and on all standard forms, and HIPAAdb, an Internet-based tracking system for healthcare compliance.
Based in Deerfield Beach, Fla., iBX Group Inc. develops and deploys creative, cost-effective methods for integrating financial, administrative and information services for the healthcare industry. iBX is a results-oriented company, consisting of six divisions: iBX Technologies, which enables healthcare organizations to maximize collections of their accounts receivables; Florida HealthSource, a network of physical therapy and wellness centers; MediCompliant Solutions, which ensures medical practices' compliance with today's complex legal requirements; iBX Transcription Services, which offers physicians quick turn-around and Web-accessible progress reports; NursesSTAT, which deploys leading-edge staffing administration technology to healthcare facilities; and provides cost-effective temporary staffing solutions. iBX also owns SportshealthNet.com, an interactive Web portal providing consumers with comprehensive healthcare information and advice, and increasing physician referrals.
This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. This release contains certain "forward-looking statements and information" (as defined in the Private Securities Litigation Reform Act of 1995) concerning iBX Group, Inc. that are based on the beliefs of iBX Group, Inc.'s management, as well as assumptions made by and information currently available to iBX Group, Inc. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in iBX's filings with the Securities and Exchange Commission.