| Eldorado Partners With ProxyMed |
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FOR IMMEDIATE RELEASE Eldorado Partners with ProxyMed to Deliver Unrivaled Electronic Healthcare Transaction Capability Phoenix, Arizona – 1 March 2003 Internet-based EDI Transactions: ProxyMed solves the daily business problems of physician offices by automating their financial, administrative and clinical transactions with healthcare payer partners through Internet-based connectivity. This connectivity will transform today’s inefficient, paper-based system into a real-time, Internet-based transaction system. ProxyMed, Inc. Acquires MedUnite: ProxyMed, Inc. acquired 100% of the capital stock of MedUnite, Inc. in January 2003. ProxyMed's acquisition of MedUnite creates the nation's second largest physician-based transaction processing company, second only to WebMD. The acquisition of MedUnite by ProxyMed will create an organization with over:
Benefit to ECI Clients: As was the goal with our prior alliance with MedUnite, the potential savings in processing costs with EDI and auto-adjudication technologies is significant. For Eldorado clients, ProxyMed offers a dramatic per transaction cost advantage over its competition, up to 25% savings over their current EDI costs. As a result of the acquisition, the savings to payers is substantial with the newly increased subscription base. Important Points to Know:
About Eldorado Computing Eldorado is a leader in IT administration for public and private healthcare organizations, self-funded employers, third party administrators, insurance carriers, independent physicians associations and unions. Eldorado’s ASP and software solutions for health benefit management reduce administrative costs by streamlining the technology required to control health claims processing, billing, administration, case management, workflow with imaging, and customer service. Eldorado provides a leading edge proven solution for automatic claims processing of medical, dental, vision, prescription drug, long-term and short-term disability claims. Eldorado’s software is available on an ASP hosted and licensing basis. Eldorado’s HEALTHpac is the foundation for claims repricing, managed care functionality, billing and administrative functions, case management, utilization review, PPO management, COBRA management, Section 125 administration, batch laser printing, electronic claims transmissions, ad hoc reporting and claims edit processing. HEALTHpac is used by more than 120 claims processing customers. Founded in 1981, Eldorado is a privately-held company based in Phoenix, with affiliate offices in Barberton, Ohio. Together, Eldorado’s customers manage seven million lives and handle 43.2 million claims annually. For more information, contact (602) 604-3100. |
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