Sydney, Aug 1, 2007 AEST (ABN Newswire) - IBA Health Limited (ASX: IBA) - Australia's largest listed eHealth company, today announced that since January of 2007 it has signed agreements with an additional 10 health funds to connect to IBA's eHealth network.
The network has seen an increase in the number of health providers taking up the HealthPoint service grow by over 22% since July 2006.
Transaction volumes from providers in the IBA network have grown at an annualised rate of 14% and are continuing to rise following the implementation of new services covering five modalities during the past six months i.e. Dieticians, Speech Pathology, Naturopathy, Acupuncture and Remedial Massage Therapists.
IBA's HealthPoint provides healthcare professionals and their patients with an efficient, easy to use single point solution for EFTPOS, Patient Claims to Health Funds and, where applicable, Medicare Claims.
More than 88% of privately insured Australians will be able to settle their accounts on the spot with their health insurer through connectivity to IBA's point of care claiming system.
In addition, inroads continue to be made into improving the efficiency of electronic billing and claiming for hospital services through agreements with leading health funds to enable their systems to receive electronic hospital claims from IBA's hospital solution. Working collaboratively with the health funds, IBA's Electronic Claims Management (ECM) System is being used to assemble and deliver hospital claims to the health funds electronically.
When fully operational, IBA's ECM is expected to deliver nearly half a million hospital claims to the health funds annually.
Steve Garrington, CEO IBA Health, said, "With HealthPoint, ancillary healthcare providers (health professionals such as Chiropractors, Optometrists, Physiotherapists and Dentists etc) and health fund insurers are able to automate and streamline many of the administrative processes associated with claims processing, thereby lowering the costs of managing and operating their business whilst providing a significant service to their mutual clients.
"In particular healthcare providers have welcomed IBA HealthPoint service as a simple add on which is ready and available. It does not require expensive practice management software, nor does it require expensive business quality internet connections, firewall security or virus protection software. Staff training is easily done over the phone.
"IBA is delivering real business benefits to a growing list of health funds, healthcare providers and hospitals who are committed to processing and settling claims at the point of care. We are the only company to provide Medclaims, HealthClaims and EFTPOS from a single easy to use low cost HealthPoint terminal," concluded Mr Garrington.
Contact
Steve Garrington
CEO
IBA Health Limited
Phone +61 2 8251 6700
Email: steve.garrington@ibahealth.com
Media
Greg King
Communications and Business Development Director
IBA Health Limited
Phone: +61 413 621 111
Email: greg.king@ibahealth.com
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