Outstanding Year Records Significant Customer and Product Achievements
BOSTON, Feb. 2, 2006 — Point-of-care technology solutions provider MedAptus(R) today announced that 2005 was its third consecutive year of annualized growth of 70 percent. MedAptus largely attributes its continued positive momentum to a flourishing customer base who, as a result of implementing the company’s flagship offering, Electronic Charge Capture, is enjoying tremendous financial benefits, remarkable physician adoption and widespread user satisfaction.
Integrated with existing scheduling, billing and electronic medical records systems, MedAptus’ Charge Capture supports professional coding and compliance at the point of care, streamlining processes and enhancing top-line revenue. The solution has been repeatedly demonstrated to improve the revenue cycles of healthcare organizations nationwide.
As one example of the magnitude of benefit that the MedAptus solution was documented to deliver in 2005, University Physician Associates of New Jersey (UPA), a longstanding customer with over 300 physician users, calculated that usage of MedAptus resulted in an annual revenue increase of over $6 million, in addition to improved compliance efforts. The full results of a study conducted internally by UPA were published in the December 2005 issue of Healthcare Financial Management.
"I’m excited by MedAptus’ revenue growth, however I’m also extremely proud of our customer successes. As one example, 2005 marked the fifth year that physicians at Lahey Clinic have used MedAptus to capture and submit charges, approximately 3,000 daily," said Dennis Mitchell, president and CEO of MedAptus. "Additionally, NYU Medical Center started its initial system roll-out, while M. D. Anderson Cancer Center made significant progress with its enterprise-wide deployment. Considering the evolution of MedAptus, it is clear that 2005 was truly pivotal, setting the stage for a highly productive 2006."
MedAptus also reached several product milestones in 2005. A new Clinical Results application was launched, as was a Tablet-PC version of Charge Capture, already in use at a number of sites. Lastly, the company’s Dictation product was enhanced with many new features aimed at streamlining the documentation process for physicians, enabling one customer alone to process over 10,000 dictations in 2005.
MedAptus’ Electronic Charge Capture and complementary clinical solutions will be demonstrated at the HIMSS(R)06 Annual Conference and Exhibition in San Diego, from February 12 to 16, 2006, in booth number 5650.
David Delaney, MD, who is a vice president and chief medical officer at MedAptus, has also been selected as a featured presenter at HIMSS. Dr. Delaney’s session, number 54 and entitled "A Self-Funded Approach to EHR," will take place on Tuesday, February 14th, at 8:30 A.M. In this session Dr. Delaney will review how to create a revenue-driven alternative to electronic records implementation, in comparison with a conventional multi-year, multi-million dollar expenditure approach.
About MedAptus Corporation
MedAptus believes that in order for point-of-care technologies to make sense, they must be easy to use, deliver demonstrable returns and also leverage an organization’s current information technology investments. In addition to practice-proven electronic charge capture, MedAptus also offers integrated dictation, powerful clinical content, electronic prescribing, and results viewing. Enterprises that have deployed MedAptus solutions have realized millions of dollars in increased revenue, improved organizational productivity, and enjoyed enthusiastic physician adoption. For more information, visit http://www.medaptus.com or call 617.523.1221.
MedAptus Contact:
Jennifer Crowley
p. 617.896.4030
