SW: ABYT released important news this morning! Alpha Bytes Strategic Alliance With Envoy-NEIC To Link
H-NET(R) With Insurance Companies in 50 States
NIAGARA FALLS, N.Y., July 12 /PRNewswire/ -- Alpha
Bytes, Inc. (OTC Bulletin Board: ABYT) today announced a strategic alliance with Envoy- NEIC, a wholly owned subsidiary of Quintiles Transnational Corp. (Nasdaq:QTRN), that will link Alpha Bytes(R) H-NET(R)Internet-based transaction network with healthcare
insurance providers in all 50 states. Under the initial terms of
the agreement, Envoy-NEIC will intake health care claims from H-NET(R) for Medicare, Medicaid, Champus, Blue Cross and Blue Shield.
The agreement positions Alpha Bytes as an early leader in implementing a fully functional global e-commerce transaction strategy for the healthcare industry.
The anticipated start date for the agreement is September when the Envoy system will be actively linked to Alpha-Bytes(R) Internet-based practice management system. This significantly reduces development time for H-NET(R) and allows a more rapid active deployment of insurance companies in processing health insurance claims. When fully implemented, H-NET(R) will handle claims for the vision care industry as well as the broader healthcare industries.
Alpha Bytes President and CEO Anton Stephens said, "While initially implementing H-NET(R) to take advantage of our dominance in the vision care market, we are rapidly evolving into a global health care community channel due to our technological lead in making full use of the Internet's capabilities. We not only have the ability to efficiently process health care claims from the broader healthcare market, but we are now seeing additional opportunities with
various medical associations and groups.
"In the meantime," Stephens said, "I am pleased that Alpha
Bytes remains profitable despite our sizable investment in building H-NET(R) and that we have been able to launch our service without having to replace any legacy systems or rewrite outdated software."
Envoy is the largest electronic clearinghouse for commercial
healthcare claims and is a leader in the pharmacy claim business. Envoy processes more than 1 billion electronic healthcare transactions year. The company has created a variety of healthcare-related data services including eligibility and referral inquiries, rosters and encounter information for the managed care industry. The company has access to more than 550 commercial, Medicare, Medicaid and Blue
Cross/Blue Shield payors.
Alpha Bytes is emerging as an early leader in executing a
global e-commerce transaction strategy for the healthcare industry. With a streamlined network and a strong existing international customer base in the vision care market, Alpha Bytes is making significant R&D investments to facilitate a rapid deployment of H-NET(R) to as many users as quickly as possible. The relationship with the alliance partners Microsoft Corporation (NASDAQ: MSFT) and Compaq Computer Corp. (NYSE: CPQ) 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 about Alpha Bytes, Inc. please visit
their web sites www.h-net.net and www.alphabytesusa.com or contact Christine Stephens at (905) 475-3249. E-mail info@h-net.net.
For copies of press releases, SEC filings, current price quotes, stock charts and other valuable information visit Hawk Associates web site www.hawkassociates.com or contact Frank Hawkins or Julie Marshall, Hawk Associates,Inc. at (305) 852-2383. E-mail:
info@hawkassociates.com.
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