TARRYTOWN, N.Y., Sept. 20, 2011 (GLOBE NEWSWIRE) -- Debt Resolve Inc. (OTCBB:DRSV) and ResolveMy.com Inc. have announced the availability of their patented, online, double-blind bid, patient self-pay medical account receivables settlement and collection portal platform. Debt Resolve is the pioneer in one-to-one internet negotiating and settlement systems for consumer receivables. Compared to a number of untested beta products introduced to the patient self-pay vertical market over the past several years, the PatientPayPort technology platform has 7-years of proven functionality and performance analytics. PatientPayPort is the customized version of the highly productive, patented, double-blind bid Debt Resolve online negotiating system used by major lenders, consumer-finance entities and collection agencies, now customized for the unique collection requirements of patient self-pay medical receivables, where preservation of the patient relationship is critical to the provider. PatientPayPort offers both domestic and international multi-language and multi-currency solutions. The patient's online experience and functionality are available in English, Spanish, Korean, Chinese and Hebrew and most primary foreign languages and in any currency denominations.
PatientPayPort provides a significant enhancement and provider-offering to entities specializing in medical accounts receivable life cycle management, from point of service through charge-off and collections. Outstanding self-pay accounts are becoming a significant challenge for medical providers who need to collect what is due to them, but must preserve the patient relationship in the process. PatientPayPort's philosophy of collecting in a cooperative, accommodating, respectful and dignified manner was pioneered more than 4 years ago by ResolveMy.com executives who have now integrated this provider-preferred methodology into the PatientPayPort internet portal. There are a number of national studies that prove the fact that the vast majority of patients prefer to resolve their financial issues privately and without having to have embarrassing telephone conversations with providers or collectors. PatientPayPort allows patients to pay online, set up payment plans, accept incentivized offerings to pay, or engage in full-blown, double- blind bid automated negotiating, depending on the age of the receivable and the provider preferences. PatientPayPort is the beginning of tomorrow's "patient friendly/provider-preferred" transformation of the patient self pay receivables servicing market.
PatientPayPort has proven analytics that demonstrate that the patented double-blind automated negotiating system consistently yields on average 14% more per collection than any other program in the industry and is available at a fraction of the cost of less-effective competitive programs.
Don Lavoie, Chairman and CEO ResolveMy.Com (formerly a senior executive at Experian, LowerMyBills.Com and Xerox) is spearheading the medical industry vertical market adaptation of PatientPayPort for ResolveMy.com. PatientPayPort is a Double Blind technology platform powered by Debt Resolve. "Accounts receivable lifecycle management programs offered in the industry today are for the most part incomplete offerings and often ignore the critical self-pay segment of the cycle." said Lavoie. "Our PatientPayPort collaborative effort with Debt Resolve is designed to be a welcome addition to a wide variety of medical life cycle management servicing companies who can "White Label" and custom brand PatientPayPort to their menu of offered services to provide true, full service solutions to their clients."
Mike Cassella, COO of Debt Resolve, said, "The integration of the ResolveMy.Com patient messaging and collection psychology techniques into our patented settlement and negotiating technology allows PatientPayPort to be a full service Point of Service through Collections solution that shifts the entire manual or semi-automated collection process into a highly cost-effective, full scale internet based portal solution. Our PatientPayPort HIPPA compliant online portals are now available on a licensing basis to medical receivables collection agencies, medical billing servicing companies, medical receivables factoring companies and directly to providers seeking an internal online solution."
For more information, contact Mike Cassella
Mike Cassella (646) 957-7876 mcassella@debtresolve.com
Don Lavoie (310) 266-8404 dlavoie@resolvemy.com
About Debt Resolve, Inc. (the "Company")
Debt Resolve provides lenders, debt buyers, collection agencies, collection law firms and hospitals with a patent-protected online bidding system for the resolution and settlement of consumer debt as well as a collections and skip tracing solution that is effective at every stage of collection and recovery. The company also provides web-based payment platforms for the financial and healthcare industries. The company is publicly held and trades on the OTC Bulletin Board under the symbol DRSV. Debt Resolve is headquartered in Tarrytown, New York.
About ResolveMy.Com, Inc.
ResolveMy.Com provides online revenue optimization platforms for the collection of financial transactions and financial obligations for a wide range of vertical markets including municipal, county and state governments, public and private utilities, grantors of credit, debt collectors, hospitals, and medical service providers. ResolveMy's executive team includes notable experts from the consumer finance and credit reporting industries. ResolveMy.Com is headquartered in Newport Beach, California.
Forward-Looking Statements and Disclaimer
Certain statements in this press release and elsewhere by management of the company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the company's operations, or the performance or achievements of the company, or industry results, to differ materially from those expressed or implied by the forward-looking statements. In addition to any such risks, uncertainties and other factors discussed elsewhere in this press release, risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied by the forward-looking statements include, but are not limited to, events or circumstances which affect the ability of Debt Resolve to realize improvements in operating earnings expected from the acquisition of First Performance and the contemplated acquisition of Creditors Interchange; competitive pricing for the company's products and services; fluctuations in demand for the company's products or services; changes to economic growth in the United States and international economies; government policies and regulations, including, but not limited to those affecting the collection of consumer debt; adverse results in current or future litigation; currency movements; and other risk factors discussed in the company's Annual Report on Form 10-KSB for the year ended December 31, 2010, and in other filings made from time to time with the SEC. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Investors are advised, however, to consult any further disclosures made on related subjects in the company's reports filed with the SEC.