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Preferred Health Technology Announces Support for MGMA's Project SwipeIT
Date:8/12/2009

CARROLLTON, Texas, Aug. 12 /PRNewswire-USNewswire/ -- Preferred Health Technology Inc. (PHT), whose A-Claim(TM) medical payment solution helps physicians and hospitals accurately determine and collect patient payments at the point of service, today announced its endorsement of the Medical Group Management Association's (MGMA) Project SwipeIT.

MGMA launched its Project SwipeIT (www.SwipeIT.org) initiative in January to encourage government and private insurance plans to issue standardized member identification cards that contain a magnetic stripe with machine-readable information. MGMA says clerical errors and inefficiencies caused by non-standardized cards and those without magnetic stripes cost health care providers $2.2 billion annually.

MGMA wants insurers to commit to issue the cards to members by January 2010, and it is calling on physicians to install low-cost card readers to access the information on the cards.

The group says insurers will realize savings from reduced provider inquiries, fewer claims that must be processed more than once, and other reduced labor costs. Health care providers will save by reducing administrative costs associated with manually keying in patient information and resubmitting claims that are rejected due to clerical errors.

"We are proud to support MGMA in its push to reduce health care costs through standardized insurance identification cards," said Mary Dees Griffith, PHT's president and COO. "PHT has been a pioneer in the use of swipe-card technology to improve efficiency, lower costs and accelerate the revenue cycle for physicians and hospitals nationwide."

PHT's proprietary and innovative A-Claim swipe-card technology system (www.A-Claim.com) enables health care providers to simply and secur
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SOURCE Preferred Health Technology Inc.
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