QuadraMed and ProVation Medical Launch Joint Marketing Agreement.Business Editors/Health/Medical Writers MINNEAPOLIS & RESTON, Va.--(BUSINESS WIRE)--Feb. 12, 2004 QuadraMed(R) Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :QMDC) and ProVation(R) Medical, Inc. today announced a co-marketing agreement for ProVation Medical's clinical procedure documentation and coding compliance software with complementary applications in the QuadraMed Quantim(R) HIM (Health Information Management) product suite. The two companies' initial efforts will target medical facilities performing procedures across specialties including Gastroenterology gastroenterology Medical specialty dealing with digestion and the digestive system. In the 17th century Jan Baptista van Helmont conducted the first scientific studies in the field; William Beaumont published his own observations in 1833. , Pulmonology pul·mo·nol·o·gy n. The branch of medicine that deals with diseases of the respiratory system. pulmonology The study of the lungs and respiratory function , Orthopedics, Urology urology Medical specialty dealing with the urinary system and male reproductive organs. It traces its origin to medieval lithologists, itinerant healers who specialized in surgical removal of bladder stones. and Pain Management, with Cardiology planned for later this year. ProVation(R) MD/RN software for procedure documentation and coding compliance replaces the inefficient dictation/transcription approach and streamlines the coding process to back-end coding reviews. Driven by deep medical content, ProVation MD allows clinicians to quickly and completely document medical procedures and apply the appropriate CPT CPT See: Carriage Paid To and ICD ICD International Classification of Diseases (of the World Health Organization); intrauterine contraceptive device. ICD abbr. codes, as well as CCI CCI Chambre de Commerce et d'Industrie (France) CCI CAM (Complementary and Alternative Medicine) Citation Index CCI Chamber of Commerce and Industry (Western Australia) edits. Quantim HIM products are web-native and fully integrated in a central database that cost-effectively promotes greater efficiency and accuracy of information management. The fully scalable technology of Quantim simplifies complex HIM challenges including coding data quality and accurate reimbursement issues, compliance, and privacy. "ProVation's software platform is the only product in today's marketplace that can provide proven ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). through clinical procedure documentation and coding compliance, and QuadraMed is a market leader in systems that simplify HIM coding, billing and data management processes," said Mark Wagner, Chief Executive Officer, ProVation Medical. "Our combined product lines will provide medical facilities with the ultimate in revenue recovery and administrative cost administrative cost Managed care A cost incurred by the 'business' end of a health care facility or university–eg, staffing and personnel costs, nursing home and hospital administration, insurance, and overhead expenses. Cf Indirect costs. savings through streamlined workflow." "QuadraMed's leadership is based upon our reputation for successfully implementing a suite of products that optimize health information management across the patient continuum," said Michael Wilstead, QuadraMed President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "We do more than respond to the needs of our customers, we work to anticipate them. This partnership with ProVation will help drive our eHIM initiative forward by providing HIM departments with technology that not only improves workflow, but enables coders to be more efficient and productive managing projects, rather than having to be task oriented." About QuadraMed Corp. QuadraMed is dedicated to improving healthcare delivery by providing innovative healthcare information technology and services. From clinical and patient information management to revenue cycle and health information management, QuadraMed delivers real-world solutions that help healthcare professionals deliver outstanding patient care with optimum efficiency. Behind our products and services is a staff of more than 850 professionals whose experience and dedication to service has earned QuadraMed the trust and loyalty of customers at more than 1,900 healthcare provider facilities. To find out more about QuadraMed, visit www.quadramed.com. About ProVation Medical, Inc. ProVation Medical, Inc. (Minneapolis, MN), a leading healthcare software and services company, provides solutions that significantly enhance revenue and decrease costs per medical procedure. Hospitals and Ambulatory Surgery Centers ambulatory surgery center A free-standing center that performs various types of surgery that use ProVation Medical software (1) improve their coding accuracy resulting in a 5-25 percent improvement in reimbursement for their medical procedures, (2) eliminate transcription costs, and (3) consolidate and simplify all the major financial, clinical and administrative tasks that accompany each procedure. ProVation MD/RN software replaces inefficient dictation/transcription processes, producing complete, billing-ready, image- and diagram-enhanced documentation for multi-specialty clinical procedures. Through an innovative "Anticipatory Interface(R)", the software links deep medical content designed by ProVation's in-house 12-member physician and coding staff to compliant CPT/ICD/CCI-edit reimbursement codes, producing a comprehensive operative note. The result is coder-ready documentation delivering compliance, proper reimbursement, and shortened days in Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying with an ROI ranging from 25-200% and payback within 12-20 months. For more information, go to www.provationmedical.com. (C) 2004 ProVation Medical, Inc. and QuadraMed Corporation. All Rights Reserved Anticipatory Interface, Clinical Productivity by Design and ProVation are trademarks of ProVation Medical, Inc. QuadraMed and Quantim are registered trademarks of QuadraMed Corporation. |
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