CareMedic Launches the eFR® Network

Business Wire,  June 23, 2008  

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Company's framework of configurable technology and technology-enabled services offers low-cost, low-risk approach for complete revenue cycle redesign

ST. PETERSBURG, Fla. -- Third paragraph, first sentence of release should read: According to Schweitzer, the eFR Network provides a framework to review CareMedic's total offerings that span the revenue cycle... (sted According to Schweitzer, the FR Network provides a framework to review CareMedic's total offerings that span the revenue cycle...).

The corrected release reads:

CAREMEDIC LAUNCHES THE EFR[R] NETWORK

Company's framework of configurable technology and technology-enabled services offers low-cost, low-risk approach for complete revenue cycle redesign

CareMedic Systems, Inc., a leader in proactive financial management for hospitals and providers, today launched the eFR Network, its comprehensive set of configurable technology and technology-enabled services that offer healthcare providers an effective, and cost-efficient electronic financial record platform for complete revenue cycle redesign. CareMedic will showcase the delivery capabilities of the eFR Network at the 2008 HFMA ANI Healthcare Finance Conference in Las Vegas, June 23-26, booth #818.

A bigger basket of innovative solutions and services

"We have launched the eFR Network concept to give healthcare providers an attractive, cost-effective roadmap for adopting a high-end revenue cycle IT strategy that redesigns critical processes we believe are required for today's healthcare financial management environment," said Sheila Schweitzer, chairperson and chief executive officer of CareMedic. "Through our expertise in this market, we have carefully evolved CareMedic to add key, innovative solutions and outsourcing services, in particular, our unique, surround technology, the electronic financial record, that can effectively enhance management of the entire revenue cycle while avoiding the high-risks and high-costs typically associated with total back-office technology replacement."

According to Schweitzer, the eFR Network provides a framework to review CareMedic's total offerings that span the revenue cycle - the culmination of the company's concerted focus in the past few years to bring to market a variety of new combined technology and services offerings.

Last year, for example, CareMedic launched SecondaryGold[TM], which combines the power of the company's premier solution, AccelerateAR[TM] MedicareRT[TM], along with AccelerateAR[TM] Claims Management and a complementary dashboard with outsourced billing staff follow-up services. All of these products and services work together--in the network--to provide a solution for hospital and health system customers.

Electronic financial record technology and outsourcing services are key

The key component in CareMedic's eFR Network concept is its eFR offering, the only solution available that connects information from disparate systems into a single electronic patient financial record. Launched in (2001) with the company's acquisition of (Third Millennium Healthcare Systems, Inc.), the eFR solution stores and extracts information from disparate financial systems in a common patient folder, which is continuously updated as changes occur in any of the systems that feed the eFR. All of the data--insurance, eligibility, coverage information, referral information, physicians, department encounters--is linked directly to the patient account, tying "pockets" of information together. By utilizing the eFR solution to tie together the customer's legacy patient accounting system and other existing in-house technologies, along with key outsourcing services, a healthcare organization can achieve immediate and dramatic improvements in processes and cash flow.

Continuing Schweitzer explained that CareMedic's eFR Network approach is a realistic, pragmatic way to fix the harder to solve bottlenecks that remain in the revenue cycle process. "The easy automation has been accomplished, therefore tackling revenue cycle problems one at time with point solutions will only get you so far anymore," she said. "By offering flexibility in combining services and technology solutions, we can work with providers' to review their legacy system capabilities and existing in-house resources to consult and offer a lower cost, lower risk way of improving performance in revenue management."

About CareMedic Systems

Founded in 1997, CareMedic Systems provides enabling technologies and outsourced services that move and manage critical data through the healthcare revenue cycle, ultimately improving cash flow and margins while reducing operational expenses. The company's fully integrated data management and workflow tools address revenue cycle activity from inception through claims resolution, and require manual intervention only when necessary. CareMedic is committed to consistently delivering results to its customers. For additional information, visit www.caremedic.com.

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