Avisena Announces 62%+ Year-Over-Year Increase in Revenues for First Quarter 2008

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Medical billing software developers Avisena have announced a more than 62 percent increase in year-over-year revenues for the first quarter of 2008, citing sales force and geographic expansion, technology improvements and operating efficiencies as contributions to the improvements in the medical billing company's performance.

Avisena, Inc., a revenue cycle management (RCM) company servicing the health care industry, announced significant improvements in virtually all of the company's key performance metrics for the first quarter of 2008. Q1 of 2008 represents the twenty-first consecutive quarter of growth for the seven-year-old medical billing software company, accessed online at http://www.avisena.com

"As most industries suffer through the current economic downturn, Avisena is creating jobs, increasing shareholder value, and projecting it's largest year over year growth to date with our medical billing software," said Albert Santalo, Avisena Chairman and CEO. "Avisena experienced quarter over quarter billing growth of 26% from Q4 '07 to Q1 '08. These impressive metrics can be attributed to greater sales force productivity and a 90+ percent client retention rate," explained Santalo, "bringing financial performance and growth rates that far exceed MGMA benchmarks."

"Traditionally-run medical practices are being squeezed by increasing cost pressures coupled with declining payer reimbursement, resulting in significant reductions in profits," according to Santalo. "In order to combat these on-going trends, practices are turning to Avisena's Software Enabled Service (SES) model for more efficient and cost effective solutions to reduce expenses and increase revenues. It is commonplace for Avisena clients to experience over 10% revenue growth while simultaneously reducing their expenses over 10% for a net impact of over 20% to their bottom-line."

Avisena and its peers in the electronic medical records and practice management software business, including Athenahealth, are gaining market share in this $25B market segment from traditional medical billing companies and providers of billing software packages. Their site, which explains their medical billing software solutions, can be visited at http://www.avisena.com

"The Avisena business model, which combines world-class Internet-based revenue cycle management software with human touch service, is quickly becoming the de-facto standard that enables doctors to practice medicine and get paid for what they do," revealed Santalo, adding that "by delivering our offerings in a Software Enabled Service (SES) model, we address major deficiencies inherent in traditional packaged software. The reimbursement landscape is constantly changing, and providers shouldn't worry about constantly updating their systems or making a large investment in software that can rapidly be made obsolete."

Avisena has invested millions in R&D to develop its patent-pending business solution for medical practice management, while others are left bound by the constraints of traditional billing software. Most software packages were originally designed with single medical practices in mind and could not provide the robust functionality required by a large RCM provider. Avisena practices are experiencing a greatly enhanced first-time claim resolution rate, thus minimizing the inefficient rework that plagues the industry.

"Physicians and administrators are learning that the growing $2.4 trillion dollar U.S. health care system isn't getting any easier to navigate," Santalo disclosed. "The continuing challenges and complexities of dealing with managed care and the Medicare and Medicaid programs have motivated health care providers to leave it to the professionals -- jettisoning the do-it-yourself approaches of the past," Santalo concluded.

About Avisena:

Avisena is a revenue cycle management company that helps medical practices improve collections through the use of its Internet-based medical billing software technology and practice management expertise. By streamlining front and back office processes, Avisena helps medical practices Collect More, Spend Less and Live Better. Visit Avisena online at http://www.avisena.com

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Vanessa Deval
Avisena
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