Plantation, FL, Dec. 16, 2013 (GLOBE NEWSWIRE) -- Health Revenue Assurance Holdings Inc. (OTCQB: HRAA) -has been awarded a three-year contract from one of the nation's largest not-for-profit health plans, serving 9.1 million members, with headquarters in California to provide health information management coding solutions, and quality assurance review expertise to their 38 hospital settings and over 600 outpatient facilities throughout the United States.
HRAA will provide its highly trained team of certified medical coders to augment their interim staffing needs through October 31, 2016 utilizing our proprietary cloud-based remote solution.
By employing a rigorous testing process that begins at the hiring stage combined with deep expertise in the intricacies of coding, HRAA's U.S. based staff provides the accuracy, efficiency and timeliness paramount to optimizing revenue streams while complying with all CMS and other regulatory guidelines.
"Our high standards for quality and productivity will ensure that our client's revenue cycle remains intact during this time of rising compliance issues, the ICD-10 transition and other challenges," said Andrea Clark, chairman and CEO of HRAA. "We are excited to partner with such a prestigious organization."
Founded in 1945, this client's mission is to provide high-quality, affordable health care services to improve the health of their 9.1 million members and the communities they serve across 7 regions of the United States. As the implementer of the most advanced non-governmental electronic health record in the world, it was a natural fit for HRAA's mix of advanced coding technology and skilled coders.
Health Revenue Assurance Holdings (OTCQB: HRAA) interprets data to ensure that healthcare is efficient and effective for everyone by pulling medical data together to create a predictive window to understand cost and revenues looking back and going forward. Founded in 2001 and based out of Plantation, FL, HRAA combines years of industry expertise with best-in-breed technology to create market leading business intelligence products and consulting services to ensure hospitals are reimbursed for every pill they prescribe, every procedure they perform and every test they administer. HRAA both trains and supplies the high tech workforce to hospitals to generate the predictive data used by the whole healthcare system and offers a full suite of solutions needed to keep up with the ever-changing healthcare industry including data analytics software, business intelligence technology, medical coding, auditing, education, revenue cycle consulting, and ICD-10 transition solutions. For more information visit: http://www.hraa.com
Caution Regarding Forward Looking Statements
Certain statements in this news release and such conference call are forward-looking, including (without limitation) expectations or guidance respecting customer contract expansion, growing revenues and profits through organic growth and acquisitions, attracting new business that will increase HRAA's revenues, continuing to maintain costs and consummating any transactions. Undue reliance should not be placed on such forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of HRAA's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of those and other risk factors and cautionary statements that could affect future results, performance or trends are discussed in HRAA's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
CONTACT: Investor Relations Contacts: Phil Carlson / Alex Woodbury KCSA Strategic Communications 212-896-1233 / 212-896-1267 or Katerina Jones 954.472.2340 Media Contacts: Danielle DeVoren / Taylor McGrann KCSA Strategic Communications 212-896-1272 / 212-896-1253
Source:Health Revenue Assurance Associates, Inc.