WirelessMD and PayMD Collaborate to Provide Wireless Charge Capture and Coding System

Faster Reimbursements and Improved Cash Flows for Physicians

WirelessMD(TM), Inc., the premiere wireless connectivity solution provider for the medical community, and PayMD.com, a leader in the healthcare reimbursement industry, today announced a joint services agreement which will allow physicians to wirelessly access claims information from a handheld device in a secure mobile, interactive environment. Under the terms of the agreement, WirelessMD and PayMD will jointly develop and market secure wireless charge capture solutions for medical professionals.

"This alliance moves our interoperable reimbursement framework beyond the Internet operation into a fully functional wireless application," stated Peter D. Perry, president and chief executive officer of PayMD.com. "By combining our innovative technologies, the cash flow of providers will be significantly improved by allowing physicians to access current coding information and wirelessly capture charges for patient services performed at the point of care, thereby eliminating the risk of payment errors and guarantying payment timing."

PayMD's patent pending business model provides real-time claims adjudication via the Internet, enabling providers to process claims online and receive payment immediately without costly software or hardware. The technology integrates a Medicare and commercial plan coding compliance system complete with price checking, eligibility confirmations, verification authorization and claims entry and processing into one unified processing framework. These robust features serve to improve the efficiency and reduce the costs associated with the estimated 35 billion healthcare business transactions that occur annually.

"The incorporation of PayMD's technology into our wireless system expands our suite of services to include charge capturing and coding verification at the point of care and moves us closer to providing the most comprehensive medical connectivity solution," commented Gary Coltek, chief executive officer of WirelessMD, Inc. "This agreement allows us to provide physicians another way to handle the changing insurance and regulatory demands while continuing to provide the best physician-oriented applications available today in a scalable architecture that can be easily modified to include new functionality."

The multi-functional WirelessMD system automates critical aspects of patient care by interfacing with existing healthcare information systems to facilitate access to critical healthcare information including clinical laboratory results, patient histories and updates, and potential adverse drug interactions notices as well as the ability to execute electronic prescriptions in a mobile interactive environment. Using this system, physicians are able to make clinical decisions quickly thereby increasing efficiency and optimizing patient care.

This system is expected to be operational in November.


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