CollaborateMD Celebrates Ten-Year Anniversary

Market Wire, June, 2009

This year, CollaborateMD celebrates their tenth anniversary of providing hybrid SaaS practice management and medical billing software to physician offices and third-party billing services.

Reflecting on what initially triggered the development of CollaborateMD's first software version, Founder & CEO Douglas Kegler explained, "I had begun writing several programs, but found a common problem: a combination of cluttered & cumbersome applications, surging IT expenditures, and clearinghouse and payer connection challenges made medical billing software virtually unattainable for practices with less than 25 physicians. I felt that practices of all sizes deserved a quality medical billing solution."

Utilizing a unique hybrid SaaS technology platform, Kegler built a solution that minimized the costs associated with use while still being easy to use and maintain. Since launching their first practice management software program in 1999, which was limited to submitting claims to New York payers alone, CollaborateMD has increased their network to include over 3,000 institutional and professional payers. With a heavy concentration on service and support, CollaborateMD now employs roughly 30 employees and has been recently named an Inc. 5000 fastest-growing company.

"One year ago, we distributed a press release announcing rapid growth and forecasting record-breaking transactions for the coming year," commented Kegler. "At that time, I attributed our success to the hard work and dedication of our exceptional team. I couldn't be prouder, or more pleased, to reaffirm that sentiment as we celebrate ten years of being in business. No single word can accurately convey the immense gratitude I feel toward every customer, investor, and team member who has supported us over the years. To everyone who has, or will have, a hand in our ongoing success, we thank you."

James M. Yurdin, M.D. and Betsy R. Yurdin, CollaborateMD's first customer, had this to add about the celebratory announcement: "Congratulations to Doug Kegler and staff on ten years of providing consistently dependable software and support. We are a small practice and have benefited immeasurably by your affordable solution to our billing and practice management needs. Over the past ten years, though your products have become more sophisticated and your business has grown, you remained committed to user-friendly software that always meets the requirements of our payers. Of equal importance, at a time when it is hard to know who to trust, it is of great comfort to us that your CEO, Doug Kegler is a man of honesty and integrity; rare qualities in these uncertain times."

Now serving nearly 4,000 active providers throughout every state, CollaborateMD remains focused on further expansion to accommodate their growing customer-base. Specific goals for this year include increasing the size of the support and software development teams, strengthening industry partnerships, and launching a new software release with an unprecedented list of features designed to optimize clinical and financial workflow for the improved net profitability of any healthcare office. Despite the heavy push toward reaching new growth milestones each year, CollaborateMD continues to contribute regularly to the various philanthropies it proudly supports.

About CollaborateMD

CollaborateMD has been helping medical practices and billing services optimize clinical and financial workflow for increased revenue and net profit improvement since 1999. Serving thousands of providers nationwide, CollaborateMD offers the healthcare industry a HIPAA-compliant, 100% Java, hybrid SaaS practice management and medical billing software application, which easily integrates with several leading EHR and laboratory solutions, and offers ePrescribing and secure patient-to-provider communications. For more information, visit CollaborateMD.com , Blog.CollaborateMD.com , or call 888.348.8457.