Huge ABYT NEWS just out!
ALPHA BYTES, INC. INTRODUCES H-NET(R), INTERNET-BASED,
Comprehensive Transaction Network for Healthcare Industry
NIAGARA FALLS, N.Y., March 10 /PRNewswire/ -- Alpha Bytes, Inc. (OTC Bulletin Board: ABYT), North America's leading provider of software for the vision care industry, announced today the introduction of a new Internet- based transaction network for the healthcare industry called H-Net(R). The service is expected to be available in the second quarter of 1999.
Initially available to the vision care industry, the comprehensive new service will electronically link vision care providers including retail opticians, retail optical chain home offices, optometrists, ophthalmologists and optical laboratories together, along with insurance companies and credit and debit card networks. The Internet-based network will enable participants to significantly reduce costs while speeding up processing of health care claims and payments and simplifying the accompanying paper work. The network has potential applications for other healthcare segments and industries.
There were an estimated 475 million transactions between various participants in the vision care industry in 1997, a significant number of them handled manually. The transactions included such activities as checking for insurance eligibility, insurance claim submissions, eyeglass frame ordering, lens ordering, frame trace submission, billing for lab services and credit/debit card transactions. H-Net(R) is designed to integrate all of these functions into an automated seamless network.
Anton M. Stephens, chairman and chief executive officer of Alpha Bytes, Inc., said, "As a transaction service provider (TSP), we are creating an Internet-based, real-time on-line processing system that we believe has significant growth opportunities beyond vision care. H-Net(R) will operate from a central hub that receives, processes and forwards data instantly to the appropriate site. All transactions will pass through an electronic tollbooth. With our business alliance partners Microsoft Corp. (Nasdaq: MSFT) and Compaq Computer Corp. (NYSE: CPQ), we are building a powerful, dependable and responsive system that will seamlessly link with our existing software client base. This is an exciting opportunity because H-Net(R) has so many potential applications. The relatively low cost of implementation, combined with significant cost savings and ease of use, make this a highly attractive service for the Healthcare industry. We already are in advanced discussion with a number of important companies in the healthcare industry who understand the benefits of H-Net(R) and have shown a high degree of interest in the service. In addition, we are looking forward to demonstrating H-Net(R) to other major players in the vision care industry next week."
H-Net(R) is being publicly demonstrated for the first time at the Vision Expo East in New York March 19-21 in New York.
Alpha Bytes, Inc., North America's leading provider of enterprise software for the vision care industry, is transforming itself into an Internet-based electronic transaction service provider. With an existing customer base of approximately 6,000 vision care outlets, Alpha Bytes is making significant R&D investments to facilitate a rapid deployment of H-Net(R) to as many users as possible. The relationship with the alliance partners Microsoft and Compaq is designed to assure the company of the most powerful solution for an Internet based transaction network that will set the standard of excellence in the healthcare industry.
For more information contact Christine Stephens at (905) 475-3249, Email: info@h-net.net or Frank Hawkins or Julie Marshall, Hawk Associates, Inc. at (305) 852-2383, Email: info@hawkassociates.com.
Detailed information about Alpha Bytes can be found on the website www.alphabytesusa.com. Copies of Alpha Bytes, Inc. press releases, SEC filings, current price quotes, stock charts and other valuable information for investors may be found on the website: hawkassociates.com.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding the expansion of the Company's operations are forward-looking statements. Words such as "expects," "intends," "believes," "anticipates," and "likely" also identify forward- looking statements. Actual results may differ from such forward-looking statements as a result of a number of factors, including but not limited to, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed in periodic reports filed by the Company with the Securities and Exchange Commission.
SOURCE Alpha Bytes, Inc.
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