Bank of America and Third Millennium Healthcare Systems, Inc. Instrumental in Cardiovascular Provider Resources-The Heart Place's Operational Improvements.

Business Editors

CHARLOTTE, N.C.--(BUSINESS WIRE)--Feb. 7, 2002

Bank of America and Third Millennium Healthcare Systems, Inc. (TMHSI) today announced that Dallas-based Cardiovascular Provider Resources-The Heart Place(R) (CPR) is utilizing the Bank of America-TMHSI combined Integrated Lockbox Solution to significantly improve their Central Business Office operations and increase their revenue collections.

Brett Bennett, Director of CPR's Central Business Office, reports, "The Integrated Lockbox Solution enables us to handle an increasing workload while reallocating data entry staff and to significantly increase our collections on rejected and denied claims. This solution is perfect for us."

"Bank of America and Third Millennium have been very innovative in meeting the pressing needs of today's healthcare business office," states Brett Bennett. "Technology has brought added efficiency to our operation, increasing our return on investment. We have been able to reassign two and a half employee positions, along with the elimination of the cost of a courier, while adding the workload from eight new physicians."

One of the main reasons CPR selected the Integrated Lockbox Solution was its ability to operate CPR's payment posting and accounts receivable collection process in an industry-unique paperless environment that enhanced, not changed, CPR's methodology. The Bank of America Image Lockbox captures images of payments, invoices, remittance documents, and correspondence. The images are electronically transmitted from Bank of America to TMHSI's i.suite(TM) solution, in CPR-defined batches, twice a day, seven days a week. This seamless integration allows CPR to post payments into their existing legacy information system and to connect those payments to a patient's account without using a paper document.

The Bank of America seven-day-a-week transmissions of receivables have been key in bringing efficiency to CPR operations by allowing CPR the flexibility to reassign staff as needed and to complete month-end processing on a more timely basis.

Brett Bennett says, "The outstanding innovative features that make this solution industry-unique are the paperless integration of lockbox images into our operation and i.suite's ability to index at the patient level. i.suite solution was one of the catalysts for change. i.suite enabled us to implement a claims denial team to better manage rejected and denied claims. As a result, our monthly revenue from these types of claims has dramatically increased collections and reduced days. Electronic images and ready access to detailed billing information have greatly improved client satisfaction. Our Client Support staff can resolve patient account issues in one phone call. Before, it may have taken days to retrieve the paper documents, usually from off-site storage, assemble the account details, and return the client's call."

Dennis Byerly, CEO, Third Millennium states, "The Integrated Lockbox Solution applies today's technology to overcome the traditional operational barriers of handling paper. We are pleased to have assisted CPR with automation that lowered their costs and increased their return on investment."

"The healthcare team at Bank of America specializes in working with clients to identify techniques and technologies that address the challenges of succeeding in a complex and dynamic healthcare reimbursement environment," said Nathan McClellan, client manager, Bank of America Healthcare Finance Group. "We are proud that combining the Bank of America image lockbox technology with the healthcare expertise and focus of Third Millennium's i.suite solutions produces measurable efficiencies gains at Cardiovascular Provider Resources in the form of accelerated revenue collection, increased productivity and higher margins."

Bank of America, the nation's largest wholesale lockbox processor, has one of the most extensive image lockbox networks and product offerings of any bank in the country. After becoming one of the first banks to provide wholesale lockbox clients with images of check and remittance documents, Bank of America went on to become the first bank to offer coast-to-coast image lockbox services and the first to offer images of lockbox checks and correspondence over the Internet. Using these capabilities, clients can view the work processed on a same-day basis instead of waiting up to three days for the physical paper to be delivered.

One of the world's leading financial services companies, Bank of America is committed to making banking work for customers like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives. The company enables customers to do their banking and investing whenever, wherever and however they choose through the nation's largest financial services network, including approximately 4,400 domestic offices and 13,000 ATMs, as well as 38 international offices serving clients in 190 countries, and an Internet Web site that provides online access for more than 3 million customers, more than any other bank.

Bank of America stock (ticker: BAC) is listed on the New York, Pacific and London stock exchanges. The company's Web site is www.bankofamerica.com. News, speeches and other corporate information may be found at www.bankofamerica.com/newsroom.

Third Millennium Healthcare Systems, Inc. (www.tmhsi.com) provides industry-leading revenue cycle management technology and workflow automation systems for healthcare organizations. Based in Atlanta, Third Millennium's i.suite(TM) applications provide high-performance, value-added solutions that streamline and enhance existing practice management and hospital information systems. Third Millennium's automation of rejected/denied claims management, secondary claims processing, document imaging, electronic remittance advice management, and other business office solutions decreases operational expenses and enhances revenue for healthcare providers.

About Cardiovascular Provider Resources - The Heart Place

Founded in 1962, The Heart Place (www.heartplace.com) is the leading association of physicians and surgeons specializing in cardiovascular disease management, with offices in over 20 locations throughout the Dallas-Fort Worth area. With more than 55 cardiologists and cardiovascular surgeons in the group, Heart Place provides a full range of diagnostic and interventional services. Heart Place has focused on cardiovascular disease management programs such as Congestive Heart Failure, Wellness and Lipid Clinics, resulting in positive patient outcomes.