IRVINE, Calif.--(BW HealthWire)--Jan. 27, 2000-
Concord EFS, Inc.'s (Nasdaq:CEFT) EFS National Bank subsidiary and MedCom
USA, Inc. (Nasdaq:EMED) today announced the launch of a national sales program
for the MedCard System to the healthcare market.
Significant elements of the program include marketing the MedCard
System to Concord's existing healthcare industry customer base,
partnering with banking customers to market the system to the banks'
healthcare clients, and creating a specially trained healthcare
industry sales force. Approximately 500 Concord EFS sales people,
along with 250 agent banks will market this comprehensive package of
products and services to physicians, clinics and hospitals. These
salespeople have undergone specialized healthcare industry and product
sales training at seminars, and through custom videotape
presentations.
Using an, intelligent, countertop point-of-service terminal
manufactured by Hypercom Corporation (NYSE:HYC), physicians' offices
are able to electronically perform:
-- Medical Insurance Eligibility Verification
-- Encounter Data Capture
-- Paperless Medical Claims Processing
-- Credit Card and ATM Card Processing for Payment of Patients'
Deductibles and Co-Payments
-- FlexPay, allowing patient's to pay for healthcare services over
time
-- Check Payment Authorization
-- And, other relevant business services for physicians
"The healthcare industry is a major target market for Concord EFS
in 2000," stated Edward A. Labry III, Concord EFS President. "By
having an integrated product line that includes our financial services
and the MedCard System, we offer physicians an extraordinary package
of comprehensive business services."
"This system is a way to process credit card payments and medical
card claims through one easy to use card payment terminal, and we are
pleased to join with Concord EFS and MedCom USA to provide this
powerful solution to the industry," stated George Wallner, Hypercom's
President and CEO,
"MedCom's on-going strategic business plan is to continue to
develop value-added, healthcare industry and electronic commerce
products and services for both MedCard as well as with our JustMed.com
subsidiary," stated Mark E. Bennett, MedCom's President and CEO. Our
marketing partnership with Concord EFS allows us to integrate
Concord's financial services with our own products, company-wide,
creating a single vendor solution for all business-to-business and
e-commerce transactions."
Concord EFS is a vertically integrated electronic transaction
processor. The EFSNB Merchant System, provides transaction
authorization, data capture, settlement and funds transfer services to
selected market segments including the healthcare industry. The
Company's primary activities include providing credit, debit, check
authorization and electronic benefits transfer (EBT) processing
services for retailers, and providing gateway processing, ATM driving,
and MAC (R) network access to the financial services industry.
Concord's Internet address is www.concordefs.com.
Hypercom Corporation (NYSE:HYC) is a global provider of
end-to-end electronic payment solutions, including card payment
systems, peripherals, network products, software and e-commerce
payment solutions that add value at the point-of-sale for consumers,
merchants and acquirers. Headquartered in Phoenix, Arizona, Hypercom
markets its products in more than 70 countries through a global
network of affiliates and offices in Argentina, Australia, Brazil,
Chile, China, Germany, Hong Kong, Hungary, Japan, Mexico, Russia,
Singapore, Sweden, the United Kingdom and Venezuela, Hypercom's
Internet address is www.hypercom.com.
MedCom USA, Inc. provides innovative solutions for electronically
processing transactions within the healthcare industry. The Company's
healthcare business units include: MedCard, a service package for
physicians, clinics and hospitals that has been endorsed by the New
York County and Suffolk County Medical Associations; JustMed.com, a
pure play internet healthcare Web site: and Med Store, an e-commerce
sit for selling home medical equipment (HME) products. MedCom's
Internet address is www.justmed.com.
This release contains forward-looking statements that are subject
to risks and uncertainties, including but not limited to the impact of
competitive products and pricing, product demand and market
acceptance, reliance on key strategic alliances, fluctuations in
operating results and other risks detailed from time to time in the
Company's filings with the securities and Exchange Commission.
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CONTACT: Concord EFS Inc., Memphis
Ed Labry, 901/371-8000
or
Fegen and Associates for MedCom USA
Nick Fegen, 515/223-6296
or
Kent Barghols, 515/331-2636 |
