Santa Rosa, CA (PRWEB) November 18, 2008
ClaimRemedi, a provider of insurance claim revenue management solutions, announced recently they have signed an agreement with ICSGlobal Limited, an eHealth company listed on the Australian Stock Exchange. Under the agreement, ClaimRemedi will provide electronic claims processing and claims management services to ICSGlobal's US subsidiary, Thelma-US.
"ClaimRemedi brings additional transaction volume, more access to healthcare payers, and a set of powerful claims management technology toolsets, into the medical banking network that Thelma-US is developing," said B.P. Fulmer, president and CEO of Thelma-US. "With transactions between our existing partners -- MedData, SSI and RMS -- set to go live very soon, the best and fastest way for Thelma-US to build volume, expand functionality and increase margins is through mutually beneficial partnerships like the one with ClaimRemedi, where we can "bolt on" their technology to our medical banking network," Fulmer. added.
"This partnership with Thelma-US will allow us to expand our revenue base and improve our margins just by connecting to Thelma and making use of the other partnerships they have put in place," commented Robert Bleyhl, president of ClaimRemedi.
The opportunity for Thelma in the US arises from the fact that there are numerous established eHealth organizations, many of whom specialize in only a few of the 11 different electronic transaction types that are required for full "medical banking." Thelma-US acts as a hub or "interchange" to vertically integrate this myriad of transaction streams into a complete national electronic "medical banking network."
Tim Murray, CEO of ICSGlobal, explained, "The ClaimRemedi agreement is evidence of the momentum that the Thelma-US management team is developing, with their focus on organic growth and acquisitions The sheer size of the US healthcare system, together with our management team that has the local knowledge and contacts to extract maximum value from our Thelma assets, makes it a very exciting market for ICSGlobal to be operating in. I expect the US will rapidly become our major market."
Founded in 1990, ICSGlobal listed on the Australian Stock Exchange in 1999 [ASX:ICS]. ICSGlobal's core business is medical banking: simplifying healthcare payments, helping patients, doctors, hospitals, health insurers and government to get paid or make payments. We do this using our configurable medical banking clearinghouse technology, Thelma (Transaction Health Exchange Linking Multiple Applications), which facilitates clearing and settling medical bills electronically over the Internet, rather than the stress, time and cost of filling in forms and trying to work out who owes what to whom. ICSGlobal's global medical banking growth strategy involves the expanded deployment of Thelma in the Australian, UK and US markets. For more information visit http://www.icsglobal.net, http://www.thelma.com.au.
About ClaimRemedi, Inc.
Headquartered in Santa Rosa, California, ClaimRemedi is a healthcare claims clearinghouse that provides customers with leading edge claim scrubbing and editing technologies, performing millions of checks and edits on submitted claims to achieve 100% payment rate on first submission, and dramatically accelerating cash flow. For more information about ClaimRemedi, visit http://www.claimremedi.com.
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