Payerpath Contracts with Aetna to Provide Transaction Processing; Payerpath Continues to Secure Relationships with the Nation's Top Payer Organizations

Business Wire, Dec 7, 2004

RICHMOND, Va. -- Payerpath Inc., a leading provider of Internet-based financial transaction processing solutions for healthcare providers, hospitals and payers, today announced that Aetna (NYSE: AET) has selected Payerpath to perform transaction processing services.

Through this relationship with Payerpath, Aetna will expand provider connectivity and increase electronic transaction volumes. Providers will also benefit from Payerpath's Web based claims management system and provider outreach program. These services target providers with the goal of converting them to electronic transactions, as well as improving the quality of the electronic transactions currently processed.

"We are excited about adding Aetna to our growing list of payer partners," said Jim Riley, vice president of sales for Payerpath. "We look forward to helping Aetna achieve their EDI goals."

Payerpath currently processes more than 2.2 million claims each month to payers on behalf of its provider customers.

About Payerpath

Payerpath is a provider of Internet-based financial management software applications and related services for healthcare providers, hospitals and payers. The company's comprehensive suite of applications, led by Payerpath Claims Management, address all steps in the reimbursement cycle--from verifying patient eligibility and correcting inaccurate claims to managing remittance and generating secondary billing. Consequently, providers are able to reduce administrative costs and eliminate payment delays for healthcare services resulting from claims denials. For more information, visit www.payerpath.com.