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Buffalo Company Launches First-ever National Electronic Transaction Network to Improve Health Care Access for Uninsured and Underinsured
Date:1/31/2008

HealthTransaction Network(R) keeps costs down and improves access by

connecting health care facilities and consumers

BUFFALO, N.Y., Jan. 31 /PRNewswire/ -- HealthTransaction Network(R) is creating the first-ever nationwide health care provider network to provide routine wellness and preventive care services to underserved populations at affordable costs, the company announced today.

HealthTransaction Network connects providers and consumers using an electronic transaction network system that quickly, securely and efficiently facilitates and processes transactions between the parties. The Network operates using a shared processing infrastructure, consumer cards and a new electronic transaction terminal device located at participating provider sites.

"The Network is a win-win for health care consumers and providers," said Joseph E. Wolfson, President and CEO of HealthTransaction Network. "It reduces costs for the provider making it possible for them to offer routine medical services at more affordable rates to the consumer, thereby improving access and patient outcomes."

Participation in the Network is open to all health care providers nationwide and consumers can access and purchase services by subscribing and obtaining a card from a participating provider or employer. The cards incorporate biometric technologies to ensure patient identification (e.g., fingerprint and signature verification), and also may be used as a stored value card. Consumers will pay only a minimal processing fee to obtain a card and subscribe to the Network.

The types of services that will be available to consumers that subscribe to the Network include preventive, wellness and routine services such as physicals, dental cleanings, eye exams mammograms and x-rays. All services will be available on a per transaction basis, and consumers will also have access to generic prescriptions for as low as $7.00.

HealthTransaction Network has plans to expand their electronic health care network in the northeast and ultimately throughout the United States. The company is currently in negotiations with several other health systems and provider networks and is also engaging small business owners.

"Employers currently unable to afford health coverage for their employees will now have another option," explains Wolfson. "By participating in the Network employers can contribute to their employees' health care by adding funds through the stored-value function of the consumer card. The employees can then use the card to purchase routine medical services at any participating HealthTransaction Network location -- nationwide."

Two health systems in Western New York have signed on as the Network's first provider participants. TLC Health Network and Brooks Memorial Hospital will install Network transaction terminals at their many locations and will offer routine medical services at reduced costs to consumers that subscribe to the Network beginning in the second quarter of 2008.

"This new program is just the beginning of an exciting new vision for TLC Health," said Louis Frascella, TLC Health President and CEO. "By participating in the Network, we are increasing access to preventive and wellness services that will ultimately decrease the number of patients that delay care until they are very sick."

Studies show that increasing access to preventive medical care decreases health care costs and improves outcomes for patients.

"The challenges of paying for health care touch too many hard working Americans and their families," said Wolfson. "We created HealthTransaction Network to be the first of its kind -- a health network that makes health care more affordable and allows the consumer to pay for only those services they need, when they need them."

For more information visit http://www.healthtransactionnet.com.

CONTACT:

Betsy Murrett, 716-842-2222

HealthTransaction Network

Kendrick Bentham, 716-951-7041

TLC Health Network


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SOURCE HealthTransaction Network(R)
Copyright©2008 PR Newswire.
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