To: Katie Kommando who wrote (38833 ) 3/23/2000 10:44:00 AM From: CIMA Respond to of 150070
EMED - Thursday March 23, 9:04 am Eastern Time Company Press Release MedCom USA Inc., Medcard Division Expands Its Hospital Based Physician Billing IRVINE, Calif.--(BW HealthWire)--March 23, 2000--MedCom USA Inc. (Nasdaq:EMED - news) Thursday announced that its MedCard division has expanded its physician billing at Kingsbrook Jewish Medical Center to 153 physicians from the 77 that were using the MedCard System by the end of the first year. MedCom estimates that it will process more than $5 million of Kingbrook's gross patient billings through the MedCard System during calendar year 2000. This service is an expansion of the traditional MedCard System use, whereby MedCard handles all aspects of the claim process in exchange for a percentage of the monies collected by the hospital. This differs from the traditional process where MedCard receives a processing fee for each transaction processed, which is better suited for smaller healthcare provider groups. ``By working closely with the staff at Kingsbrook, we have been able to adapt our methodology successfully to the hospital outpatient physician billing. This is a different service than is offered to the smaller healthcare provider,' stated Mark E. Bennett President and CEO of MedCom USA Inc. ``Although it took us longer than expected to perfect the operational aspects of this facet of our business and enroll all of the doctors, we are excited about our ability to provide this service to the very large healthcare provider. This experience and knowledge allows us to offer this service to other hospitals, thereby opening up a new large potential market for us', added Bennett. ``We have been working with Medcard over the last year and are now are using their billing system in the following departments: Emergency Room, Clinics, Laboratories, Psychiatry and Radiology. The Medcard systems speeds up our receivables from the insurance companies and saves us overhead costs.' Stated Ian Rowe, Director of Physician Billing services at Kingsbrook. The Kingsbrook Jewish Medical Center is a nine building, 341-bed facility with over 100,000 patient days of total acute care. It is renown for its rehabilitation and pediatric services. MedCom USA 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 offers on-line medical eligibility, 100% paperless claims processing, credit and debit card processing and patient easy pay; JustMed.com, a pure play Internet healthcare Web site; and Med Store, an e-commerce site for selling home medical equipment (HME) products. MedCom's Corporate Web address: www.medcom.net; JustMed.com's Web address: www.justmed.com; MedCard's Web address: www.medcard.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. -------------------------------------------------------------------------------- Contact: Fegen and Associates Nick Fegen, 515/223-6296 Kent Barghols, 515/331-2636