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FRANKLIN,
Tennessee / MILWAUKEE, Wisconsin
One of the nation's leading
healthcare information technology companies, Franklin, TN-based Passport
Health Communications, Inc., announced today that it has acquired United
Wisconsin Proservices, Inc. from WellPoint Health Networks Inc., creating a
broader product platform and adding one of the largest payer and provider
networks in the state of Wisconsin.
With this acquisition, Passport Health Communications will serve
approximately 1,200 hospitals and over 1,500 large physician groups and other
healthcare entities across the US. The broadened product portfolio includes
the following electronic transactions: patient eligibility and benefits,
claims submission and management, claims status and other related products
and services. Passport Health Communications will:
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Provide clearinghouse services
on a national level with access to one of the largest group of payer
connections in the US.
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Have an innovative technology
platform with multiple distribution vehicles, including web-based services
as well as products that integrate with practice management and hospital
information systems.
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Bring over 35 combined years of
successful business operations to meeting the administrative and financial
services needs of hospitals and other healthcare delivery facilities across
the country.
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Have an expanded product
offering including patient eligibility, benefits, claim submission and
management, claim status, remittance advice, referrals and authorizations,
pre-certifications, self-pay file batch, credit/ATM card processing, patient
address verification, credit reporting and scoring, fraud and abuse
compliance tools, cash management seminars and other related products.
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Serve a customer base of
approximately 1,200 hospitals and over 1,500 large physician groups and other
healthcare entities across the US.
With this product-expanding
move, Passport Health Communications is positioned to offer additional
products and services to its extensive national customer base. During fiscal
year 2003, Passport grew its transactions by 25% over 2002. This growth rate
will be enhanced via the acquisition of United Wisconsin Proservices through
both the additional customer base and the cross-selling opportunities that
exist with the broader product platform.
"Proservices brings to Passport both a large customer base as well as a
product portfolio that is complimentary to Passport's offerings," stated Jim
Lackey, president and CEO of Passport. "The addition of a claims submission
product to our portfolio enables us to round out our administrative and
financial offering to our customers. This is a significant step in the
continued growth of our company." Lackey went on to state, "We believe that
providers are looking to companies such as Passport to provide a full
service financial and administrative offering with superior service. This
acquisition gives us that offering."
About Passport Health
Communications, Inc.
Passport Health Communications, Inc., based in Franklin, Tennessee, is
focused on the delivery of innovative technology solutions to assist healthcare
providers in maximizing their revenue cycle performance. Passport offers
real-time access to data and proprietary technology essential for accurate
patient registration, billing, collections, and self- pay reimbursement.
These financial and administrative tools help reduce claim denials and
improve cash flow. The company offers healthcare providers insurance
information on more than 175 million covered lives, including access to
Medicaid and Medicare in most states. Passport has a client base of
approximately 1,200 hospitals and over 1,500 large physician groups and other
healthcare entities across the U.S. Services are provided through a real-time
browser, electronic batch, and point-of-service terminals or are integrated within
the provider's health information system.
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