Trac Medical Signs First Pilot for Electronic CMN Processing; Anthem Health Services Will Pilot Medical Forms Processing Solution.Business Editors SCHENECTADY, N.Y.--(BUSINESS WIRE)--Nov. 27, 2001 Trac Medical Solutions, Inc., a majority owned subsidiary of AuthentiDate Holding Corporation (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 : ADAT (Alesis Digital Audio Tape) A digital audio recording technology from Alesis, LLC, Cumberland, RI (www.alesis.com). In 1992, Alesis introduced the first 8-track digital tape recording system. ), today signed its first pilot customer for CareCert(TM), the company's new, secure solution for processing Certificates of Medical Necessity (CMN's) and other medical forms electronically via the Internet. Anthem anthem [ultimately from antiphon], short nonliturgical choral composition used in Protestant services, usually accompanied and having an English text. The term is used in a broader sense for "national anthems" and for the Latin motets still used occasionally in Health Services health services Managed care The benefits covered under a health contract , Inc., a Colonie, N.Y.-based medical supplier that provides infusion therapy and respiratory care services, will use CareCert to automate and increase the security of its medical forms management process. CareCert integrates AuthentiDate(TM) electronic content authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. technology, which virtually eliminates any possibility of altering forms without detection, thereby guarding against fraud and abuse. The solution was developed to meet new federal government regulations for security and privacy in handling healthcare information. "In our business, cash flow is a huge issue," explained Kevin Truax, Anthem's chief executive officer. "After evaluation, we believe that deploying CareCert will dramatically improve our turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. and reduce the labor involved in completing key medical forms that determine the speed with which we bill and collect claims." "Beyond the benefit to our business," he added, "introducing this type of secure electronic forms management system is a very positive step for our industry. It will help eliminate the problem of fraud and abuse by creating an accurate audit trail." "Anthem's decision to evaluate CareCert validates the compelling benefits of our solution for medical equipment suppliers," said Jeffrey Frankel Jeffrey Alexander Frankel (born November 5, 1952 in San Francisco, California) is a Professor of Economics at Harvard University's Kennedy School of Government. A member of the Council of Economic Advisors under President Bill Clinton, Frankel is a noted international , Trac Medical's president. "Working with customers such as Anthem, we will develop a new and better way of processing medical forms that results in healthier balance sheets for suppliers and less paperwork for healthcare providers, while eradicating fraud from the system." CareCert employs Internet and security technologies from AuthentiDate and other suppliers, all delivered through an Application Service Provider (ASP) model where the CMNs and other electronic forms reside on Trac Medical servers. These forms are accessed and completed by medical suppliers and healthcare providers via a standard Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . About AuthentiDate Holding Corporation AuthentiDate Holding Corp. (NASDAQ: ADAT) is the parent company of four businesses: AuthentiDate(TM) Inc., DocSTAR, DJS Marketing Group/Computer Professionals International and Trac Medical Solutions, Inc. AuthentiDate, Inc. has received patent-pending status for its innovative technology that can verify the authenticity of digital data with virtual certainty. DocSTAR is a complete solution for storing and retrieving paper files electronically. DJS Marketing Group/Computer Professionals International performs computer integration services and sells computer products. Trac Medical is a developer of solutions that utilize the Internet and AuthentiDate technology to improve speed, accuracy and security in processing medical forms. Statements in this news release that are not descriptions of 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. that are subject to risks and uncertainties. Words such as "expects," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the AuthentiDate Holding Corporation can be found its filings with the Securities and Exchange Commission. |
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