Crescent To Form HIPAA-Compliant Medical Claims Processing Division.Business Editors & Medical/High-Tech Writers HOUSTON--(BUSINESS WIRE)--March 21, 2002 Crescent Communications Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCES CCES China Civil Engineering Society CCES Canadian Center for Ethics in Sport CCES Contingency Communications Extension Switch CCES Corporate & Continuing Education Services CCES Command Center Evaluation System CCES Child Custody Evaluation Service ) announced it will form an online medical claims processing division as it continues to define itself as a medically-driven healthcare high-speed connectivity provider. The new division will work in conjunction with Crescent's Secure Medical Network to provide a direct high-speed secure data link from the payers of healthcare claims to the providers of healthcare services. This new division is part of Crescent's overall strategy to become a major medical technology services company pursuant to the Health Insurance Portability and Accountability Act The Health Insurance Portability and Accountability Act (HIPAA) was enacted by the U.S. Congress in 1996. According to the Centers for Medicare and Medicaid Services (CMS) website, Title I of HIPAA protects health insurance coverage for workers and their families when of 1996 (HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, ) and the Secretary of Health and Human Services Noun 1. Secretary of Health and Human Services - the person who holds the secretaryship of the Department of Health and Human Services; "the first Secretary of Health and Human Services was Patricia Roberts Harris who was appointed by Carter" which mandates compliance to the national standard for electronic claims and other transactions by October 2002 (October 2003 for small health plans). Manfred Sternberg, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "The medical claims processing industry is approximately $1.2 trillion annually and growing. The clock is ticking under mandated nationwide legislation. Our strategy is to wire the professional buildings and offices that physicians occupy through our Secure Medical Network. This will provide the "Last Mile" to enable the medical professional to conduct his/her business in a secure HIPAA-compliant high-speed network. With our Secure Medical Network in place, we have the ability to deliver a wide variety of other products and services to the healthcare industry." About Crescent Broadband Crescent is a broadband network service provider (NSP (1) (Network Service Provider) An organization that provides a high-speed Internet backbone to ISPs and other service providers. Sprint, MCI and UUNET are examples of NSPs. See Internet backbones. ), focused on the small business (one-100 employees), mid-tier business (100-1000 employees), Multi-tenant Unit (MTU (1) (Maximum Transmission Unit, Maximum Transfer Unit) The largest frame size that can be transmitted over the network. For example, an Ethernet MTU is 1,500 bytes. Messages longer than the MTU must be divided into smaller frames. ) and Multi-Dwelling Units (MDU). Crescent provides fixed broadband wireless, xDSL, ATM and traditional technologies using several network partners such as Level (3), SBC Communications and IP Communications, connecting enterprises to the Internet at speeds ranging from 128 Kbps to 155 Mbps. Crescent also provides application hosting/delivery, managed VPN's (Virtual Private Networks) and Managed Firewall services from its ATM core backbone network. This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. |
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