ATLANTA, Aug. 7, 2007 (PRIME NEWSWIRE) -- MedAvant Healthcare Solutions (MedAvant) (Nasdaq:PILL), a leader in healthcare technology and transaction services, today announced that its full corporate accreditation by The Electronic Healthcare Network Accreditation Commission (EHNAC) has been renewed. This EHNAC reaccreditation means MedAvant is EHNAC accredited through August 2009.
EHNAC accreditation indicates that the company has met or exceeded expectations for speed, accuracy and data integrity. During the EHNAC reaccreditation process, MedAvant provided comprehensive documentation and hosted site visits of its transaction services offices. During the course of the certification process, numerous measures of quality were examined in the areas of privacy, confidentiality, technical performance, business practices and resources.
Lee Barrett, executive director of EHNAC, said of MedAvant: "Today MedAvant joins a select group of clearinghouses that have demonstrated to independent third party evaluators their ability to deliver their services consistent with the only standards in the industry that measure the overall business practices of a clearinghouse."
"Being certified by EHNAC means that MedAvant has met the highest quality and performance standards for electronic data interchange throughout our entire company," said Lonnie Hardin, MedAvant Executive Vice President. "This certification demonstrates our continuing commitment to providing our customers and our partners with the very best service available in the industry today."
As the fourth largest claims processing company in the U.S., MedAvant processes approximately 750,000 revenue-related transactions a day. The primary service MedAvant customers use to process claims is the Company's industry-leading, real-time web portal called myMedAvant. This service, powered by the Company's Phoenix real-time processing platform, allows both healthcare providers and insurance payers real-time visibility into the entire claims process. For providers, it offers real-time eligibility checking, claims status tracking, and explanation of benefits. For insurance payers, it offers clinical claim editing and fraud and abuse checking on the front end of the claims adjudication process. MedAvant's laboratory services business provides, among other items, a patent-pending, web-enabled device that is used by clinical laboratories and healthcare providers to transfer lab reports in virtually any format to any printer, personal computer or hand-held.
About EHNAC
EHNAC is an independent, not-for-profit accrediting agency that provides independent peer evaluation of an organization's ability to perform at industry-established levels.
EHNAC's function is to promote administrative simplification and cost savings in the healthcare industry and to provide the healthcare transaction industry with an independent capability to develop industry standards, known as EHNAC Criteria. The mission of EHNAC is to promote standards, quality service, innovation, cooperation and open competition within the healthcare EDI industry: Establishes minimum criteria for industry self-regulation.
* Encourages firms in the industry to improve performance.
* Facilitates open market access and competition ("open access"
referring to acceptance of transactions from any source or routing.)
* Fosters consistency in transmitted information.
* Enhances customer service and satisfaction. ("Customers" include
providers, payers, intermediaries and third parties.)
The EHNAC Commission seeks to accredit entities that send or receive HIPAA regulated transactions, or that transport or process EDI transactions between two or more trading partners in the healthcare community. These entities include, but are not limited to, clearinghouses, transactions processors, value-added networks (VANs), payers, providers and provider management organizations. http://www.EHNAC.org.
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.
The MedAvant Healthcare Solutions logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3540
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.