MedPlexus Launches Revenue Cycle Management Software and Services to Enhance Financial Performance

Blend of software and services offer incremental adoption, automation to physician practices and billing service providers for better efficiency and revenue return

Sunnyvale, Calif., October 9, 2006 - MedPlexus, an innovative developer of Internet-based administrative, financial and clinical software and services for physician practices, today announced the availability of a suite of services and software designed to optimize revenue cycle management. Services include practice audit, accounting and billing services and software for comprehensive practice management and revenue optimization for physician practices and billing service providers.

MedPlexus services and software offer physician practices and billing service providers the opportunity to combine the blend of tools most appropriate to expedite their revenue cycles. These solutions allow practices to automate billing services and access extensive payer provider connectivity and claims eligibility verification and authorization. MedPlexus solutions offer increased billing, coding and collection efficiencies with near-instant claims submission to reduce costs and increase revenue.

"We designed and developed MedPlexus' business model to offer software as a service to physician offices and billing service providers to provide flexible solutions for business needs. This allows physicians to focus on providing high quality patient care, and billing service providers the opportunity to improve capability and capacity," said Chittaranjan Mallipeddi, CEO of MedPlexus. "Our revenue cycle management tools are designed to give practices complete control over patient data while streamlining office workflow and enhancing revenue."

MedPlexus Offers Suite of Solutions and Incremental Adoption to Benefit Customers

The suite of MedPlexus revenue cycle management services and software solutions can be adopted incrementally from a single service such as MedPlexus Practice Audit or MedPlexus Billing Services to a blend of services and software based on practice needs. Physician practices and billing service providers can minimize capital investments in technology and maximize business performance through incremental adoption. Key benefits of MedPlexus solutions and services include the following:

Optimal revenue cycle management:
· MedPlexus Practice Audit Services enable practices to identify sound and problematic areas to improve practice and business outlook.
· MedPlexus Practice Management software supports higher billing levels and a streamlined, efficient billing cycle.
· MedPlexus Billing Services expedite the claim process, optimize claim submission and reduce the charge capture cycle.

Intelligent cash flow management: MedPlexus solutions and services help practices receive payments in a timely manner.

Choice of deployment and control of data: Practices can select either the ASP-hosted or locally deployed software solutions without compromising flexibility and loosing control of practice data.

Flexible fee schedules: Practices can manage the total cost of ownership by selecting from a choice of fee schedules including a subscription fee, a license-based fee model, or a percentage of revenue model.

Paperless medical practice: Practices can move to a paperless office by integrating with MedPlexus' Electronic Health Record (EHR) solution.

Reduced costs: MedPlexus solutions and tools radically reduce the costs associated with traditional paper billing by helping practices establish financial performance baselines, identify and measure performance indicators, and offer real-time accounts receivable reports to track payer performance and collection status.

"The MedPlexus solution drastically improves our record keeping capabilities as well as ensures us with more accurate coding and billing," said Dr. Ron Press, a family practitioner in Santa Fe, New Mexico. "Instant coding after note entry improves accuracy and expedites reimbursement. MedPlexus has proven to be an affordable, scalable and flexible solution to meet my administrative, clinical and billing needs."

MedPlexus Billing Service Improves Bottom Line

MedPlexus introduces a new billing service suitable for physician practices and billing service providers seeking improved revenue pursuit and collection. MedPlexus Billing Services utilize trained professionals current in comprehensive CPT and ICD coding requirements and payer rules to review claims for errors before claims are submitted. Advanced coding tools support improved claims accuracy. Rapid claims submission improves billing, coding and charge capture, resulting in more efficient business management. Physician practices and BSPs are relieved of the burden of checking on billing details to focus on business growth and service. Pricing is based on a percentage of revenue collected.

MedPlexus Revenue Cycle Management tools easily integrate with MedPlexus Electronic Health Record Solution, available on a subscription basis with an initial user licensing fee.

Combined, the MedPlexus suite of solutions and Electronic Health Record Solution provide a comprehensive practice management, electronic health record and revenue management and billing solution.

For more information about MedPlexus products and fees, call (408) 990-9080 or visit www.medplexus.com

About MedPlexus
MedPlexus is an innovative developer of mobile and Internet-based administrative, financial and clinical solutions and services designed to improve patient care, increase practice efficiency, reduce costs and streamline information exchange between health care providers, payers, and patients. MedPlexus solutions automate physician workflow and offer physicians access to drug and disease databases, and lab and pharmacy connectivity at the point of care. Founded in 2000 by visionaries seeking to develop and maximize IT solutions for physicians, the MedPlexus team spent years turning vision into reality with input from healthcare advisors and customers. MedPlexus leverages technology and excellent services to generate tangible benefits for physician practices and customers of all sizes.

For more information visit: www.medplexus.com or call Sales at (408) 990-9080.
For media only: call Sherold Barr at (503) 595-5546 or sherold@extraordinarywork.com
 

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