MDwerks Agrees to Offer a Pilot Claims Management and Funding Program to a California Community Hospital.DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla. -- MDwerks, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MDWK), a provider of innovative Web-based, electronic claims management and funding solutions for healthcare professionals, announced today that it has agreed to offer a California hospital a pilot program to introduce MDwerks[TM] solutions to up to 12 of the hospital's associated physician practices. Under the program, each physician will have 90 days from the date of system activation activation /ac·ti·va·tion/ (ak?ti-va´shun) 1. the act or process of rendering active. 2. the transformation of a proenzyme into an active enzyme by the action of a kinase or another enzyme. 3. of his or her selected claims management and funding solutions to opt out of the program without penalty or charge, or to elect to continue under a multi-year contract. If the pilot phase is successfully completed, MDwerks would expect the hospital to recommend its technology to a group of approximately 600 physicians associated with the hospital. Howard Katz, MDwerks 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, "We are excited about introducing the unique and innovative benefits of MDwerks[TM] solutions to medical practices in California and are grateful to the hospital for its confidence in our ability to benefit its physicians and significantly improve electronic claims administration through automation." About MDwerks, Inc. MDwerks, Inc., (OTCBB:MDWK), based in Deerfield Beach, Florida Deerfield Beach is a city in Broward County, Florida, USA. The city is named for the numerous deer that once roamed the area. As of 2004, the population estimated by the U.S. Census Bureau is 76,478. , provides healthcare professionals with automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. electronic insurance claims management solutions and advance funding of medical claims through a revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. . MDwerks solutions comprise an innovative Web-based, HIPAA-compliant system designed to reduce claims errors, denials and overhead and increase cash flow, revenue and profit for physician practices of almost any size, specialty or geography. Medical claims screening and appraisal also enables providers to elect immediately turning receivables into favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. borrowing assets. Lenders, healthcare payers and other related business associates, including billing companies and clearinghouses, also benefit from MDwerks solutions. For more information about the Company, please visit www.mdwerks.com. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, 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. that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of MDwerks' Securities and Exchange Commission filings available at http://www.sec.gov. |
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