Provides Time-Saving Transaction Solutions to Claimsnet Providers
DALLAS, Jan. 21 /PRNewswire/ -- Claimsnet.com (OTC Bulletin Board: CLAI) today announced an agreement with MedAvant Healthcare Solutions (MedAvant) to provide a private label real-time portal for Claimsnet providers.
"By partnering with MedAvant, we will be able to help our providers enhance staff productivity and ultimately improve cash flow--a must in today's market of tightening margins," said Gary Austin, President & COO of Claimsnet. "Our clients will experience faster, error-free claims submissions leading to reduced A/R days and expedited payments."
Using the MedAvant Premium Services Portal will enable Claimsnet to provide real-time eligibility and claims status transaction capabilities to its providers. Real-time eligibility verifies a patient's insurance and benefits coverage electronically, which helps providers increase upfront collections, reduce manual verification of insurance information, improve the accuracy of bills and streamline workflow. Providers can also use the MedAvant portal to quickly determine the status of a claim and establish if it is pending, in review or rejected.
"We are proud to partner with Claimsnet and offer its providers time-saving applications that will allow them to operate more efficiently and improve the financial health of their practices," said Andrew Lawson, president of MedAvant. "The MedAvant portal will extend Claimsnet's claims processing capabilities and provide clients a more complete service offering."
Claimsnet is a leading provider of electronic transaction and paper claim handling services for the healthcare industry. Claimsnet partners with businesses seeking to reduce healthcare administrative costs, promoting their success by providing them with technology and services. Headquartered in Dallas, Claimsnet offers a highly secure connection and scalable Internet architecture that speeds deployment and minimizes expenses associated with claims submission and claims payment. For more information, visit http://www.claimsnet.com
MedAvant is a national connectivity network that connects payers with providers in a real-time environment for the purpose of electronically processing administrative, financial and clinical information in order to lower total administrative costs, improve payer, provider and member relationships, and ultimately improve clinical outcomes.
MedAvant is a privately held company owned by Marlin Equity, a private equity firm with more than $300M under management. For more information, visit http://www.medavanthealth.com.
Safe Harbor Statement Under the Private Securities Litigation Act 1995 - With the exception of historical information, the matters discussed in this press release are forward looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to, maintaining access to external sources of capital, regulatory actions, success of marketing strategies, actions of the Company's competitors, dependence on business partners and distribution channels, and continued use of the Internet. Further information on the Company's risk factors is contained in the Company's quarterly, annual, and other periodic reports as filed with the Securities and Exchange Commission.
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