Navigation Links
Cash Technologies Subsidiary Signs Services and Licensing Agreement With TriCap Health Group
Date:10/25/2007

LOS ANGELES, Oct. 25 /PRNewswire-FirstCall/ -- Cash Technologies, Inc. (Amex: TQ) announced that its wholly owned subsidiary, Claim-Remedi Services, Inc. has entered into a Services Agreement (the "Agreement") with TriCap Health Group, LLC to incorporate Claim-Remedi's products into TriCap's ARxChange(TM) debt disposition platform. TriCap's ARxChange system is the first centralized on-line marketplace for the disposition of healthcare debt and accounts receivables. ARxChange represents a core solution in TriCap's compelling product portfolio dedicated to helping solve many of today's pressing healthcare-related business, financial, and technology challenges.

Under the two-year Agreement, TriCap shall utilize Claim-Remedi's products to identify portions of patient-debt portfolios that can be recovered from insurance companies, rather than through patient collections, thus substantially increasing the value of such receivables. Fees are based on the value of recovered collections and will be shared between TriCap and Claim-Remedi on an equal basis. The Agreement also permits the parties to market each other's products to their respective growing client constituencies.

"We expect Claim-Remedi's products to play an invaluable role in helping us substantially increase the recovery rate of healthcare receivables, thereby enhancing the value of our core ARxChange(TM) platform," stated Joseph E. LaManna, TriCap's CEO.

Healthcare providers in the U.S. set aside $129 billion annually to cover bad debt, amounting to roughly 7 percent of the industry's revenues, which is twice the industry's average net profits of 3 percent according to industry research.

LaManna added, "Growing bad debt has severely compressed profitability and lessened liquidity; consequently TriCap's clients have looked to substantially increase financial performance through the deployment of TriCap's proven debt disposition and receivables management tools. The addition of Claim-Remedi's synergistic products will add appreciably to our efforts in these important areas."

Claim-Remedi's insurance search engine, called ProIdentify Elsee, can locate valid healthcare insurance when a patient's carrier has changed or is unknown, turning certain uncollected receivables into valid and highly collectable insurance claims. In addition, for insurance claims that have been denied due to claim preparation errors, Claim-Remedi's Pro837 Claim Editor, with its large database of sophisticated business rules, can identify the exact corrections needed for the claims to be paid by carriers, thus substantially reducing uncertainty and risk when pricing a portfolio of receivables.

Bruce Korman, CEO of Claim-Remedi, remarked, "We are excited to partner with TriCap and participate in their innovative ARxChange platform. Reducing collection costs and maximizing recoverability of receivables assets are two of the most important initiatives currently underway within the healthcare industry today. TriCap's solution for debt portfolio management and Claim-Remedi's expertise in maximizing insurance recovery rates create a powerful combination designed to help healthcare executives maximize their revenue cycle and receivables management efforts, both on the front and back-end of the collection process."

About TriCap

TriCap delivers unique, compelling receivables management business solutions designed to solve many of today's most pressing healthcare-related business and financial challenges thus substantially maximizing return and the overall recoverability of these important asset classes. For more information, visit http://www.arxchange.com.

About Cash Technologies, Inc.

Cash Technologies, Inc. develops and markets innovative data processing solutions in the healthcare and financial services industries. Its ClaimRemedi Services, Inc. subsidiary creates and markets healthcare revenue acceleration solutions -- learn more at http://www.Claim-Remedi.com.

Matters discussed in this release include forward-looking statements that involve risks and uncertainties, and actual results may be materially different. Factors that could cause actual results to differ include technical barriers that prevent the implementation or success of Cash Tech's technologies and products, competition within the debit card, employee benefits and healthcare industries, activity levels in the securities markets and other risk factors disclosed in Cash Tech's reports to the Securities and Exchange Commission, including its Forms 10-QSB and Forms 10-KSB on file with the SEC.

Media Contact:

Ed King

213-745-2000 Ext. 114

eking@cashtech.com


'/>"/>
SOURCE Cash Technologies, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Researchers Develop Technologies to Devour Food Pathogens
2. Researchers Study Safety of Assisted Reproductive Technologies
3. India to Propose Global Fund for Clean Energy Technologies
4. Filtration treatment assigns more live kidney donation
5. Depressed women show signs of earlier onset of Perimenopause
6. More signs to an approaching migraine attack
7. An Indian Bride with signs of SARS
8. Recognize Heart Attack Signs
9. Parents Should Look For Signs Of Children Becoming Overweight
10. Early Warning Signs Of Heart Disease
11. Warning Signs On Powered Baby Milk
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/26/2016)... ... ... Despite last week’s media reports hinting at a June rate hike after the Federal ... an interest rate increase, according to Rajeev Dhawan of the Economic Forecasting Center at ... Committee (FOMC) dot charts are of interest to the press for their noise potential,” ...
(Date:5/26/2016)... Missouri (PRWEB) , ... May 26, 2016 , ... ... quality and clinical outcomes, hosted members and suppliers for its inaugural Member Conference ... focus on their mission of elevating the operational health of America’s healthcare providers. ...
(Date:5/26/2016)... ... , ... The Woodlands at John Knox Village , Florida’s first Life ... living and healing, celebrated its grand opening, today. The Woodlands at John Knox Village ... Empowered Staff. , “This is an incredibly fulfilling time for John Knox Village as ...
(Date:5/26/2016)... ... 2016 , ... Catalent Pharma Solutions, the leading global provider ... global clinical supply services, today announced two key appointments and the opening of ... strategic growth plans in the Asia Pacific region. , Howard Kim has joined ...
(Date:5/26/2016)... ... May 26, 2016 , ... Memorial Day Weekend marks the unofficial ... is sharing tips to make sure your family and vehicle are ready to ... Council, there may be 439 deaths and an additional 50,500 serious injuries from motor ...
Breaking Medicine News(10 mins):
(Date:5/26/2016)... -- A key trend that will boost ... new treatments. Cardax, a development stage life sciences company, ... is expected to fulfil large unmet medical needs in ... to develop new treatments for osteoarthritis. One such study ... osteoarthritis are being investigated, and early trials of stem-cell ...
(Date:5/26/2016)... May 26, 2016 Since its ... into an essential life science tool for conducting genetic ... BCC Research reveals in its new report that the ... phase, one powered by a range of new applications ...      (Logo: http://photos.prnewswire.com/prnh/20140723/694805 ) , ...
(Date:5/25/2016)... , Deutschland und GERMANTOWN, Maryland ... Zusammenarbeit mit Therawis bedient dringenden ... Brustkrebs   QIAGEN N.V. (NASDAQ: ... heute bekannt, eine Lizenz- und Entwicklungsvereinbarung mit Therawis ... für die Onkologie eingegangen zu sein. Ein erstes ...
Breaking Medicine Technology: