ProxyMed and Reynolds and Reynolds Finalize Medical Claims Contract
March 2, 1998 07:31 AM
FT. LAUDERDALE, Fla., March 2 /PRNewswire/ -- ProxyMed, Inc. PILL , a healthcare information technology company, announced today that it has signed an agreement with The Reynolds and Reynolds Company REY in which ProxyMed will provide electronic medical claims processing to Reynolds' physician customers.
Reynolds and Reynolds, headquartered in Dayton, Ohio, is a leading provider of integrated practice and clinical information management systems in the United States, currently serving more than 35,000 physicians. Reynolds' physician base represents over 90 types of primary and specialty care physicians in multi-specialty practices and integrated delivery networks. The agreement permits Reynolds to provide to all its physician customers the ability to transmit their claims electronically through ProxyMed's secure national healthcare information network, ProxyNet(TM).
Kelly Kavanaugh, Vice President of Marketing at Reynolds and Reynolds Healthcare Systems, said, "The availability of ProxyMed's products and services into the Reynolds customer base will facilitate the electronic transmission of physician claims to payors. This agreement expands our existing relationship with ProxyMed which already includes connectivity from physicians to pharmacies, which lowers the manual labor costs of communicating between these parties."
Bruce Roberson, Executive Vice President of Sales and Marketing at ProxyMed, Inc., said, "We are extremely pleased to expand this business relationship with Reynolds and Reynolds, which represents a major accomplishment in our ECPP (Electronic Commerce Partnership Program). ProxyMed is poised to offer our value-added services and connectivity to the country's physicians through their existing relationship with their software vendors. The addition of medical claims services with pharmacy services to Reynolds and Reynolds is central to ProxyMed's strategy of offering a single source financial as well as clinical EDI capability to our business partners."
In July 1997, ProxyMed signed an Electronic Commerce Agreement with Reynolds and Reynolds. The agreement permitted Reynolds and Reynolds to provide its physician customers with the ability to generate electronic prescriptions and transmit them via ProxyMed's secure national intranet, ProxyNet. Additionally, Reynolds agreed to license certain clinical databases from ProxyMed to be integrated into its prescription management system to enable Reynolds and Reynolds to offer value-added services such as formulary checking and drug utilization review to its physician users.
The Reynolds and Reynolds Company, based in Dayton, Ohio, is a leading provider of integrated information management systems and related value-added services to automotive, healthcare and general business markets. The Company reported revenues of $1.44 billion for the 12 months ended December 31, 1997. For more information on Reynolds and Reynolds, visit the company's World Wide Web site at www.reyrey.com/healthcare, or call The Reynolds and Reynolds Information Hotline at 1-888-4REYREY.
ProxyMed, Inc., based in Ft. Lauderdale, Florida, is a healthcare information service company that provides on-line clinical and financial electronic data interchange (EDI) services to physicians. ProxyMed connects physicians to pharmacies, commercial and hospital laboratories, payors and managed care companies through its secure national healthcare information network, ProxyNet.
Note: This News Release contains "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements include assumptions, beliefs and opinions relating to ProxyMed's growth strategy based upon ProxyMed's interpretation and analysis of healthcare industry trends and management's ability to successfully develop, implement, market and sell its secure network transaction processing services, software programs, clinical databases and financial transaction services to physicians and other healthcare providers. This strategy assumes that physicians will prefer "one-stop shopping" for its products and services and that ProxyMed will be able to successfully develop, acquire, maintain and upgrade competitive clinical and financial transaction sets and successfully integrate them with ProxyMed's existing products and services. This strategy also assumes that ProxyMed will be able to successfully develop and execute its strategic relationships, especially with the providers of information systems to physicians under ProxyMed's electronic commerce partner program, and with pharmacy chains, independent pharmacy owners and pharmacy information system vendors. Many known and unknown risks, uncertainties and other factors, including general economic conditions and risk factors detailed from time to time in ProxyMed's Securities and Exchange Commission filings, may cause these forward-looking statements to be incorrect, and may cause actual results to be materially different from any future results expressed or implied by these assumptions, opinions and beliefs. ProxyMed expressly disclaims any intent or obligation to update any forward-looking statements.
More information on ProxyMed is available on their home page at proxymed.com and Reynolds & Reynolds at reyrey.com SOURCE ProxyMed, Inc. |
