ColxitMD Expands in Tri-State Market with Medical Billing Company Acquisition; Broader Launch of On-Demand Healthcare Revenue Cycle Management Services

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ColxitMD (http://www.colxitmd.com), a web-based healthcare revenue cycle management leader announced expansion into New York, New Jersey and Conneticut, the largest US physician markets, with the acquisition of MORE Medical Billing Services and the launch of ColxitMD's services.

The industry is changing rapidly; ColxitMD offers a next generation solution for our customers, maintains a local staff presence that physicians appreciate and manages a smooth transition that rewards customers. I look forward to advancing their healthcare industry initiatives.

Colxit Corporation (d/b/a ColxitMD), today announced an expansion into the New York, New Jersey and Connecticut markets with the recent acquisition of MORE Medical Billing Services, Inc. (MORE). ColxitMD is an innovative provider of web-based financial and administrative healthcare solutions for physicians. MORE is a well-established medical billing and collection company serving a wide range of individual and group physician practices in the tri-state area for over fifteen years.

A cornerstone of ColxitMD's strategy to build a leadership position in meeting the financial and business challenges facing physicians today is to acquire stand-alone medical billing providers like MORE. There are thousands of similar companies nationally serving a growing multi-billion dollar market. The human and information technology resources of these businesses are increasingly overwhelmed as payer plan complexity grows, fast changing compliance and regulatory burdens escalate and patients become responsible for a larger share of their own healthcare.        

Bob Gordon, Co-CEO of ColxitMD stated, "Physicians should receive payment as simply, efficiently and accurately as an on-line merchant. To this end, ColxitMD's internet based Service-as-a-Software (SaaS) solution delivers real-time filing, processing, responses and remittance; leverages scale and knowledge benefits centrally and distributes work product to the most effective human resources globally. Applying our solution, we can transform disparate stand-alone billing companies from the many into the mighty. Their physician customers are paid more, faster, for less and their existing employees and shareowners can meaningfully participate in ColxitMD's continued growth."

Don Kovalevich, Co-CEO of ColxitMD stated, "This announcement is tremendous news for MORE Medical's customers and employees, who will benefit from a significantly enhanced product offering, along with the resources of an emerging technology and service leader in healthcare revenue cycle management. Physicians are working harder and keeping less. Applying our unique combination of web-based software and customer service resources we level the complex revenue cycle playing field for our physicians so they can re-focus on patients not payers."

Bob Talan, Principle MORE Medical said, "The industry is changing rapidly; ColxitMD offers a next generation solution for our customers, maintains a local staff presence that physicians appreciate and manages a smooth transition that rewards customers. I look forward to advancing their healthcare industry initiatives."

About ColxitMD:

ColxitMD, Medical Billings Fastest Payer, is a leading provider of outsourced revenue cycle management solutions for the healthcare industry focused on individual and group physician practices. ColxitMD's web-based service integrates billing, collections, practice management and EMR services with back office payer experts and patient collection specialists to generate higher cash reimbursement levels, faster, at lower cost; improve patient service capabilities and lower compliance risks. ColxitMD's "Fast Pay Guarantee" is the industries first cash back service guarantee tied to the collection results ColxitMD achieves for its customers. The ColxitMD management team has a history of advising, building and running top healthcare, technology and business process outsourcing companies. ColxitMD has affiliated operations throughout the Mid-Atlantic. For more information, please visit http://www.colxitmd.com or call 1-888-4-COLXITMD.

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Bob Gordon
ColxitMD
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