Axolotl Corporation and Passport Health Communications Form Strategic Alliance.Business Editors and Medical/Health Writers TAMPA, Fla.--(BW HealthWire)--May 1, 2000 Expands Axolotl's Product Offerings to Include Web-Based Referrals, Eligibility, and Claims Submission Capabilities Axolotl axolotl (ăk`səlŏt'əl), a salamander, Siredon mexicanum, found in certain lakes in the region of Mexico City, which reaches reproductive maturity without losing its larval characteristics. Corporation, a leader in multimedia e-Health communications and patient care management solutions, today announced a strategic partnership with Passport Health Communications, Inc., a leading Internet Healthcare technology company that has harnessed the power of the Internet to offer time and cost savings to healthcare providers and hospitals. Under the agreement, Axolotl will begin offering its 52,000+ physician customers access to web-based capabilities through Passport OneSource(TM), which provides online healthcare administrative data, including information on patient eligibility, claims status, claims submission, level of benefits, referrals, provider panels and medical codes. This partnership significantly extends Axolotl's offerings to its customers and provides new revenue opportunities for the Company. Axolotl anticipates strong market acceptance for Passport OneSource among its existing customer base as there has been accelerating demand for improved processes for eligibility and referral services. As part of the agreement, Axolotl will benefit from the recent partnership between Passport Health and Claimsnet.com inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CLAI CLAI Consejo Latinoamericano de Iglesias (Spanish: Latin American Council of Churches) CLAI Chili Lovers Association International ; BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). : CLA CLA, n.pr See acid, conjugated linoleic. ), a leading provider of Internet-based business to business claims submission solution for the healthcare industry. Claimsnet has been selected as the claims processing engine for Passport OneSource, thus providing enhanced, robust functionality and access to an efficient, real-time turnkey See turnkey system. solution. Jerry Morrison, Axolotl President and Chief Executive Officer, commented, "We are pleased to expand our Physician Practice Solutions offerings through our alliance with Passport Health. Our selection of Passport OneSource was based on the company's complete Internet-based solution, as well as the product's proven acceptance in the marketplace among a significant number of physicians and hospitals. Axoltol's physician customer base is growing rapidly, both through our Waiting Room Television Network and Elysium's Clinical Messaging Solutions. We are constantly seeking opportunities to strengthen customer relationships and expand our transaction revenue base. Our agreement with Passport Health extends Axolotl's comprehensive portfolio of Physician Practice Solutions." Mr. Morrison added, "Axolotl's web-based clinical messaging solutions and health information website (www.accenthealth.com), combined with our wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 services, ideally position the Company to quickly and effectively leverage the Internet and our private network for new ASP product introductions and expanded services. Looking ahead, we intend to pursue additional initiatives that capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. Axolotl's Physician Practice Solutions ASP model to continue the successful execution of our growth strategy." "We are excited about this relationship. We anticipate wide acceptance of Passport OneSource from Axolotl's 52,000+ physician clients that they currently serve. The integration of the two company's Internet based solutions will greatly enhance both Passport's and Axolotl's positions in the Internet and healthcare industry," stated Jim Lackey, President and Chief Executive Officer of Passport Health Communications, Inc. About Axolotl Corporation Axolotl Corporation is a leading provider of multimedia e-health solutions designed to increase the efficiency of physician offices and enhance the physician-patient relationship physician-patient relationship Medical malpractice A formal or inferred relationship between a physician and a Pt, which is established once the physician assumes or undertakes the medical care or treatment of a Pt; the establishment of a PPR is 'automatic' in . Axolotl's Professional Division provides Web-based clinical messaging products, known as Elysium, for secure clinical communication between physicians, hospitals, laboratories, pharmacies, radiology radiology, branch of medicine specializing in the use of X rays, gamma rays, radioactive isotopes, and other forms of radiation in the diagnosis and treatment of disease. centers, and medical groups. AccentHealth, the Media Division of Axolotl, provides healthy lifestyle television programming, produced by CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. , to approximately 18 million patients per month. This information is expanded and enhanced on the www.accenthealth.com consumer Website that delivers a broad database of health topics, tools, and communities to waiting room network visitors and health-conscious consumers daily. Through a strategic alliance with Gilat Satellite Networks Gilat Satellite Networks is a publicly-traded Israeli company (NASDAQ: GILT. TASE) Gilat designs, develops and markets satellite and hybrid networking products, services and solutions to operators in 85 countries. , Inc., Axolotl has the exclusive right to distribute Gilat's two-way broadband satellite communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. in the healthcare market. About Passport Health Communications, Inc. Passport Health Communications, Inc. (www.passporthealth.com) is an application service provider (ASP) that has harnessed the power of the Internet to offer time and cost savings to healthcare providers and hospitals. Through Passport OneSource(TM) (www.passportonesource.com), clients can access data from six of the country's top 10 health insurers, several Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. plans and 32 state Medicaid databases via the Internet. This time-critical information is used to confirm patient eligibility, level of benefits, claims status, claims submission, provider panels and referrals. Passport has existing partnerships with DR2DR.com, Claimsnet.com, MedEweb.com, TransUnion and HealthStream just to name a few. Last year, the company unveiled HealthLeaders (www.healthleaders.com) a free online health leadership community for healthcare executives and administrators. In 1999 Passport was presented with the Microsoft Healthcare Users Group award for best product in the Managed Care/Payer-Administrative/Financial Systems category. Statements in this press release concerning the Company's business outlook or future economic performance, anticipated profitability, revenues, expenses or other financial items, and service offering growth, together with other statements that are not historical facts, are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as that term is defined under the Federal Securities Laws. Any forward-looking statements are estimates, reflecting the best judgment of the party making such statements based upon currently available information and involve a number of risks, uncertainties and other factors which could cause actual results to differ materially from those stated in such statements. |
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