Today's news release. Note that it is dated after the market closed.
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Monday February 22, 4:54 pm Eastern Time
Company Press Release
Medirisk Introduces New Provider Data Management System
Creates New Market Opportunities
Significantly Enhances Software Product Offerings
ATLANTA--(BUSINESS WIRE)--Feb. 22, 1999--Medirisk, Inc. (Nasdaq/NM:MDMD - news), a leading provider of proprietary database products, decision support software and analytical services to the healthcare industry, today announced at the Healthcare Information and Management Systems Society (HIMSS) convention that its wholly owned subsidiary, Sweetwater Health Enterprises, has introduced LUCI(TM), its new client-server provider data management system.
LUCI, formerly known as SweetQ Enterprise, offers payers, hospitals and health plans the most powerful tool on the market for collecting, managing, and analyzing vast amounts of provider data. The provider data management system simplifies the process of managing provider networks for payers, hospitals and health plans. LUCI can be installed in a wide variety of operating environments.
The LUCI provider data management system stores and enables complex processing of provider relationships, including contracts between providers, practices and networks, network affiliations, flexible fee schedules, group contracting, credentialing and more.
Commenting on the announcement, Mark A. Kaiser, Chairman and Chief Executive Officer, said, ''We have made significant product and operational enhancements to our physician credentials products over the last six months. We have streamlined our internal operations through integration and added an Internet based physician application collection process.
''While these were steps necessary to maximize the strategic benefits of the in-depth information we have gathered from our credentialing operations, we believe LUCI is the most visible and important product improvement in the physician credentials products to date. LUCI will help us create additional value by developing new opportunities in the growing market for provider data management and solidify our industry position as a major information provider for credentialing and provider data management.''
LUCI transitions Sweetwater's industry-leading file server product to a more scalable client-server application and handles contracts between providers, practices and networks, automating credentialing and deploying information across the enterprise, all in a secure environment.
LUCI is a 32-bit, Microsoft-based ODBC-compliant application that works with a wide variety of industry-leading databases, including SQL Server with the Microsoft NT Server operating system, and Sybase or Oracle with either Microsoft NT or UNIX operating systems. The client-server architecture makes it readily deployable across wide area networks.
Medirisk, Inc. is a leading provider of proprietary database products, decision-support software and analytical services to the healthcare industry. The Company's products and services enable its customers to make objective comparisons of the financial costs and clinical outcomes of physician services to customer-specific and industry benchmarks, analyze the supply of and demand for healthcare services, assess member satisfaction with specific managed care plans and obtain information concerning the background and credentials of physicians. These capabilities assist healthcare industry participants in strategic planning, effective contracting and improving the delivery of care. Medirisk's corporate headquarters are located in Atlanta, Georgia. For more information on Medirisk, visit the web site at www.medirisk.com.
This press release, particularly the statements by Mr. Kaiser, includes forward-looking statements related to Medirisk that involve risks and uncertainties including, but not limited to, quarterly fluctuations in results, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. For further information about factors that could affect Medirisk's future results, please see the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. Copies of the filings are available upon request from Medirisk's investor relations department.
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Contact:
Medirisk, Inc.
Mark A. Kaiser, 404/364-6700
or
Sweetwater Health Enterprises
Cherie Holmes-Henry, 972/888-5638
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