HAUPPAUGE, NY--(MARKET WIRE)--Jul 8, 2008 -- Bruce Weitzberg, President and CEO of Patient Access Solutions Inc. (OTC BB:PASO.OB - News), a leading provider of healthcare/financial processing solutions for the healthcare, homecare and dental industries , would like to present its shareholders with a Corporate update.
Sales for the six month period ending April 30, 2008 compared to the same period last year (2007) increased by 80%.
PAS has hired of a new VP of Sales with over 18 years of technology industry experience
In early June 2008, PAS completed the second layer of integration between digital paper technology and the PAS web portal -- thereby, allowing full, seamless, eligibility and benefit verification transactions, from paper/pen through the PAS network to over 750 insurance companies and plans.
In May 2008, PAS completed their new updated interactive claims analyzer web portal. This new portal allows healthcare providers to monitor claims status from submission to payment, all from their desktop computer. Additionally PAS has instituted ERA (Electronic Remittance Advice) which allows healthcare providers to receive payments from insurance companies via electronic wire in lieu of paper checks.
We recently started 3 different pilot programs with 3 major Home Healthcare Agencies located in North America, with over 35,000 nurses combined, and so far the feedback has been extremely positive. We are currently beginning contract discussions with one of the major Home Healthcare Agencies.
Bruce Weitzberg stated, "We will continue to keep you updated as our business progresses. As always, we appreciate your ongoing support and look forward to a very successful 2008!"
About Patient Access Solutions Inc. (PASHealth - Patient Access Solutions Inc
Patient Access Solutions Inc. (PASHealth) is a Healthcare Solutions company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare environment.
The PASHealth Web Portal System and terminal-based solutions offer electronic medical eligibility, electronic referrals and service authorizations, electronic claims processing, drug formularies, electronic prescriptions, electronic medical records and patient data, automating the labor-intensive and expensive manual process currently used by many facilities and healthcare providers. Our D-PAS product utilizes digital pen & paper technology, to capture handwritten information from the doctor or office personnel, transfer it into a digital form into the PAS web portal and utilize the data to initiate workflows in a secure environment. A patient's medical history and patient records are used to initiate necessary workflows within the web portal, securely and much more efficiently, empowering the healthcare business process. In addition, the Web Portal System offers a complete suite of self pay receivable management solutions for the healthcare facilities.
Stockwire.com is doing a DVD media push on this stock. Only been trading since Monday with new symbol. Formerly, Blue Mountain Resources. Watching to see where it bottoms. Not good timing to maybe jump in (or not) with overall market making new lows.
Interesting technology if the optical character recognition system (OCS) can accurately read the doctor's and nurse's handwriting.
And, they don't lose the electronic pens.