CollaborateMD Hybrid SaaS Model Gaining Industry Momentum

Pay-as-you-go Pricing Saves Medical Organizations Thousands in Economic Downturn

ORLANDO, Fla., Oct 08, 2008 (BUSINESS WIRE) — CollaborateMD, a leading provider of Internet practice management and medical billing software for the healthcare industry, attributes 3rd quarter growth to their cost-effective hybrid Software as a Service (SaaS) model, which combines the convenience and flexibility characteristic of most browser-based applications with the speed and power found in many locally run Windows-based programs.

The Company–being one of only two medical billing software solutions available today that utilizes this hybrid model–continues to lead the forefront in SaaS or SaaS-like applications for speed and flexibility. The recent surge in demand for the award-winning software, however, is more likely attributable to its affordability. Specifically, the pay-as-you-go pricing model and wide variety of complimentary features with minimal up-front and monthly fees has attracted a great deal of attention from medical practices and billing services trying to save money given the recent economic instability.

“Now, more than ever, medical organizations are benefiting greatly from our pricing model which allows them to reduce capital expenditures while still reaping the rewards of an on-demand solution,” stated Douglas Kegler, CollaborateMD president and CEO. “We will continue to serve as an oasis for medical organizations in this tight credit market because we offer a low implementation fee [about $899] and monthly pay-as-you-go plans [starting as low as $149 per provider] versus typical software/license models provided by non-SaaS competitors.”

The acceptance of the CollaborateMD system can be realized by the fact that they have processed over a billion dollars in insurance claims in the first three quarters of 2008 versus a billion dollars in claims in all of 2007.

For a closer look at how the hybrid SaaS model results in faster payment cycles and increased office efficiency at significantly lower costs, download the CollaborateMD hybrid SaaS white paper at http://www.CollaborateMD.com/SaaS_whitepaper.pdf.

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD has been helping billing services and medical practices save time and money since 1999. CollaborateMD offers the health care industry a HIPAA-compliant, Internet practice management, and electronic medical billing software and Revenue Cycle Management application with the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform and offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit www.CollaborateMD.com or call 888-348-8457.

CollaborateMD Ranks in Top 100 Software Companies on 2008 Inc. 5000

Medical Billing Software Company Reports Three-Year Sales Growth of 320%

NEW YORK–(BUSINESS WIRE)–Inc. today ranked CollaborateMD, a leading provider of Internet practice management and medical billing software for the healthcare industry, No. 1173 on its annual ranking of the 5,000 fastest-growing private companies in the country. The list, which ranks CollaborateMD as 86^th of the top 100 software companies nationwide, is the most comprehensive look at America’s independent-minded entrepreneurs.

“We are proud of our accomplishments and pleased to be recognized as a stand-out in an industry brimming with so many talented software providers,” commented Douglas Kegler, CollaborateMD president and CEO. “Our ranking is in part attributable to our software’s hybrid platform, which combines the best of both browser- and server-based solutions to provide a more cost-effective and intuitive solution from which our customers greatly benefit.” Ranked as 5^th out of 15 software companies in Florida, Kegler is planning for more regional and national growth in the coming months.

CollaborateMD offers an on-demand, Internet-based medical practice management software that allows medical billers, billing services and over 3,000 physicians — across all 50 states — the opportunity to harness the power of the Web to save time, lower costs, streamline efficiencies and get doctors paid faster. The application is a hybrid Software as a Service (SaaS) model that combines the advantages of a browser-based program with the benefits of a locally run Windows-based program. Utilizing this proprietary hybrid model, CollaborateMD offers a solution that is faster and more efficient than a browser-based program, and yet more flexible than a stand-alone, locally run application.

The 2008 Inc. 5000 list measures revenue growth from 2004 through 2007. To qualify, companies must be U.S.-based and privately held, for profit, independent – not subsidiaries or divisions of other companies – as of December 31, 2007, and have had at least $200,000 in revenue in 2004, and $2 million in 2007.

“Our second annual Inc. 5000 continues the most ambitious project in business journalism,” said Inc. 5000 Project Manager Jim Melloan. “The Inc. 5000 gives an unrivalled portrait of young, underreported companies across all industries doing fascinating things with cutting-edge business models, as well as older companies that are still showing impressive growth.”

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with a HIPAA compliant, Internet practice management and electronic medical billing software and Revenue Cycle Management application that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit www.CollaborateMD.com or call 888-348-8457.

CollaborateMD Offers Upgrade Program to Competitors’ Users

Current Medisoft(TM), Lytec(R), AltaPoint, Medical Manager and Misys Customers Get Discount to Switch

ORLANDO, Fla., Aug 14, 2008 (BUSINESS WIRE) — CollaborateMD, a leading provider of Internet practice management and medical billing software for the healthcare industry, announced today an upgrade program for existing users of Medisoft, Lytec, AltaPoint, Medical Manager and Misys. The program, offered through August 31st, was designed to help medical offices and billing services lower costs and have more freedom and flexibility by utilizing an on-demand practice management software program.

 

“Every time we run this program, the response is overwhelmingly positive,” commented Douglas Kegler, CollaborateMD president and CEO. “The offices that have switched to CollaborateMD are most enthusiastic about our product’s flexibility and ease of use.” According to Kegler, other benefits to making the switch include use-anywhere flexibility, collaboration between unlimited locations, no large upfront or annual costs, Microsoft Vista compatibility, frequent updates, and streamlined workflow.

 

CollaborateMD manages all transmissions to the clearinghouse, retrieves clearinghouse and payor reports, and complies with HIPAA-mandated updates. Users can perform customized searches by payor; rejection keywords; and claim acceptance, rejection or denial. CollaborateMD also facilitates database management, security and co-location back-ups.

 

CollaborateMD also offers P2P+(TM), an on-demand electronic health record (EHR) program. This collection of physician communication tools allows for reimbursable patient encounters (webVisits(R)) and other messaging services, such as prescription refills and renewals, results delivery, requests for appointment scheduling and referrals, and health education information.

 

For more details and specific terms and conditions of the competitive offer, visit: http://www.collaboratemd.com/medisoft-upgrade.asp. In combination with this offer, CollaborateMD is also offering a discount on data conversions.

 

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with a HIPAA compliant, Internet practice management and electronic medical billing software and Revenue Cycle Management application that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit www.CollaborateMD.com or call 888-348-8457.

CollaborateMD
Jenni Smith, 407-404-5297
PR@CollaborateMD.com

CollaborateMD Announces Annual “Plant a Tree by Going ASP” Program

Program Conducted with American Forests to Plant Trees Around the World

ORLANDO, Fla.–(BUSINESS WIRE)–CollaborateMD, a leading provider of Internet medical billing software for physician offices and medical billing services, today announced their “Plant a Tree by Going ASP” program. The program is being conducted in cooperation with American Forests, the nation’s oldest nonprofit citizen’s conservation organization.

“Our customers are already saving money on electricity and excess paper and are helping reduce carbon emissions from servers by using our Web-based system, but we wanted to go one step further to help the environment,” said Douglas Kegler, president and founder, CollaborateMD. “Of course, the trees are not only an effective means for absorbing and storing the carbon we emit, they also help cool the environment, produce oxygen, and provide a home for birds and other wildlife.”

CollaborateMD will begin the program by donating money to American Forest to purchase 3,000 trees, one for each active user on its system. In addition, CollaborateMD will purchase another 500 trees to help offset the company’s estimated carbon dioxide output this year. CollaborateMD will repeat the program at the beginning of each year.

Since 1875, American Forests has been working to protect, restore and enhance the natural resource of trees and forests, planting trees in over 500 projects that span every state in the U.S. as well as 21 countries worldwide. Every dollar donated will pay to plant one tree in one of the many projects American Forests has underway and will help the organization reach its goal to plant 100 million trees by 2020. For more information on American Forests or to donate, go to www.americanforests.org.

For more information on the “Plant a Tree by Going ASP” program visit www.collaboratemd.com/plantatree.

About CollaborateMD

Established in 1999 and headquartered in Orlando, Fla., CollaborateMD provides physicians and medical billing services with a HIPAA-compliant, Internet-based medical billing software and electronic medical records application that have the speed of a local PC and the “use anywhere” flexibility of a Web browser application. CollaborateMD products are 100 percent Java applications utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit: http://www.collaboratemd.com or call 888-348-8457.

CollaborateMD Becomes a Habitat for Humanity International HopeBuilder

ORLANDO, Fla.–(BUSINESS WIRE)–CollaborateMD, a leading provider of on-demand practice management and medical billing software, has added Habitat for Humanity International, which builds and rehabilitates small houses with the help of the homeowner (partner) families, to its list of ongoing charitable contributions. According to their website, Habitat houses are sold to partner families at no profit and financed with affordable loans.

“We know the recent economy has greatly affected families across the country, and we are more than happy to be a reliable source of funding to help vital organizations like Habitat for Humanity plan ahead,” commented Douglas Kegler, CollaborateMD president and CEO.

The first nonprofit to be supported by CollaborateMD was the United Methodist Committee on Relief (UMCOR), which seeks to alleviate human suffering in more than 80 countries worldwide, including the United States. Soon to follow were St. Jude Children’s Research Hospital, devoted to research and the treatment of children with cancer and other catastrophic diseases, and Covenant House, which provides shelter and other services to homeless, runaway and throwaway youth.

More recently, the Company began contributing to American Forests, the nation’s oldest nonprofit citizens’ conservation organization. As of March 2008, CollaborateMD had donated funds to purchase 3,000 trees; one for each active user on its system. They further pledged to purchase another 500 trees to help offset their estimated yearly carbon dioxide output, and to repeat the “Plant a Tree by Going ASP” program annually.

To each of the above organizations, CollaborateMD makes regular donations, some of which are a fixed, monthly amount; others of which are given annually and based on the Company’s medical billing software yearly profits. According to Kegler, the seemingly random sampling of charitable organizations chosen was based on a variety of personal factors.

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with a HIPAA compliant, Internet practice management and electronic medical billing software and Revenue Cycle Management application that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit www.CollaborateMD.com or call 888-348-8457.

CollaborateMD Reports NPI Present in 99% of All Claims Processed

ORLANDO, Fla.–(BUSINESS WIRE)–CollaborateMD, a leading provider of Internet medical billing software for physician offices, hospitalists and medical billing services, has shown full compliance with Medicare’s mandatory National Provider Identifier (NPI) requirement well in advance of the May 23^rd deadline. As of last week, an NPI is required for all HIPAA standard transactions, according to the Centers for Medicare & Medicaid Services (CMS).

The new requirement posed two distinct challenges for the healthcare industry. First, software vendors needed to integrate the NPI requirement into their solution quickly, and without claim rejections. Second, providers filing electronic claims with any payer had to follow proper channels to receive their unique identifier in time to meet the May deadline.

To mitigate the first of these two challenges, the CollaborateMD development team enhanced their medical billing software in 2006 to comply with the NPI mandate. By fall of 2007, they were successfully testing claims. As of April, 2008, 99% of all claims were processed with the NPI.

Working in tandem with their internal customer support department, CollaborateMD implementation specialists moved quickly to ensure their customers properly filed with NPPES to receive an identifier. Focused on proactively managing this industry-wide change, CollaborateMD assisted their customers in making the required transition well in advance of the cut-off date.

“Anticipating the complexity of this new requirement has undoubtedly paid off for our customers,” stated Douglas Kegler, CollaborateMD president & CEO. “Our team, strengthened by the immense support we received from RelayHealth, worked quickly and effectively to be one of the first practice management software providers to report such high compliance. Our customers know we are dedicated to doing whatever it takes to expedite the payer payment process.”

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with a HIPAA compliant, Internet practice management and electronic medical billing software and Revenue Cycle Management application that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit CollaborateMD.com or call 888-348-8457.

CollaborateMD Surpasses 500,000 Monthly Healthcare Transactions

ORLANDO, Fla.–(BUSINESS WIRE)–CollaborateMD, a leading provider of Internet medical billing software for physician offices, hospitalists and medical billing services, announced today that over 520,000 healthcare transactions were processed last month by their 3,000 medical providers across all 50 states. Having recently increased staffing resources to accommodate for this year’s predicted growth, CollaborateMD has set a new benchmark for the volume of healthcare transactions needed to keep pace with the Company’s expansion goals.

“April was yet another record-breaking month for our company,” commented Douglas Kegler, president and CEO of CollaborateMD, “but it in no way marks the peak of our escalating performance.” Kegler went on to say, “We are working diligently to ensure a steady increase in these numbers, with the anticipation of doubling our monthly healthcare transactions by the end of 2009.”

The accomplishment of processing over 500,000 healthcare transactions in a single month serves not only as a milestone for CollaborateMD and its providers, but as an indication that the healthcare industry will continue to see advancement in health information technology and, more specifically, in the acceptance of on-demand healthcare software for the foreseeable future.

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with a HIPAA compliant, Internet practice management and electronic medical billing software and Revenue Cycle Management application that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit CollaborateMD.com or call 888-348-8457.

CollaborateMD Announces 2008 Growth Plan is Ahead of Schedule

ORLANDO, Fla.–(BUSINESS WIRE)–CollaborateMD, a leading provider of Internet medical billing software for physician offices and medical billing services, announced today that it will reach the annual growth goal in half the time initially projected. Five new support analysts and a marketing director have already joined the team since January, bringing the total number of employees from 15 to 26.

To accommodate for the rapid growth in human resources, the company recently doubled the 3,000 square-foot office space, funded from existing cash and profits. As planned, last week marked a successful move of the support department to their newly leased office suite.

CollaborateMD is expected to announce a record-breaking number of healthcare transactions within the next 30 days. To that end, the Company has decided to hire additional support analysts and another software developer to proactively manage the increased volume and accommodate the additional 1,000 providers they expect to acquire by year’s end.

“The rapid growth we have recently experienced is directly attributable to the hard work and dedication of our exceptional CollaborateMD team,” stated Douglas Kegler, president of CollaborateMD. “As we continue to grow, we will uphold our collective mission to provide new and existing clients with the superior service and support they have come to expect.”

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with a HIPAA compliant, Internet practice management and electronic medical billing software and Revenue Cycle Management application that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit CollaborateMD.com or call 888-348-8457.

CollaborateMD Offers Upgrade Program to Competitors’ Users

Current Medisoft™, Lytec^®, AltaPoint, Medical Manager and Misys Customers Get Discount to Switch

ORLANDO, Fla.–(BUSINESS WIRE)–CollaborateMD, a leading provider of Internet practice management and medical billing software for the health care industry, announced today an upgrade program for existing users of Medisoft, Lytec, AltaPoint, Medical Manager and Misys. The program is offered to help medical offices and medical billing services lower costs and have more freedom and flexibility by utilizing an on-demand, online practice management software program. The program is available through April 30.

“We ran this program last fall and the response was overwhelmingly positive,” said Douglas Kegler, chief executive officer of CollaborateMD. “The offices that switched to CollaborateMD were enthusiastic about our product’s flexibility and ease of use.”

CollaborateMD also offers an on-demand electronic health record program (EHR) and P2P+™. P2P+ is a collection of physician to consumer communication tools allowing for reimbursable webVisit® consultations and other physician-patient communications services such as prescription refills and renewals, results delivery, requests for appointment scheduling and referrals, health education information, and more.

CollaborateMD users benefit from ease of use, use-anywhere flexibility, collaboration between unlimited locations, no large upfront or annual costs, Microsoft^® Windows^® Vista compatibility, constant software updates, and streamlined workflow.

In addition, CollaborateMD manages all transmissions to the clearinghouse, retrieval of all clearinghouse and payer reports, and any HIPAA-mandated updates. The CollaborateMD Claim Tracking System allows users to search for accepted, rejected or denied claims, search on rejection keywords, search by payer, plus many more options. CollaborateMD also assumes all database management, security and continuous off-site backups. Users can concentrate on billing and let CollaborateMD handle the rest.

For more details and specific terms and conditions of the competitive offer for current users of Medisoft, Lytec, and Misys, visit: http://www.collaboratemd.com/upgrade. In combination with this offer, CollaborateMD is also offering a discount on data conversions.

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD provides the health care industry with an Internet medical billing and practice management software program that has the speed of a local PC application and the “use anywhere” flexibility of a Web browser application. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. Visit http://www.collaboratemd.com or call 888-348-8457 for more information.

CollaborateMD Announces Annual “Plant a Tree by Going ASP” Program

CollaborateMD, a leading provider of Internet medical billing software for physician offices and medical billing services, today announced their “Plant a Tree by Going ASP” program. The program is being conducted in cooperation with American Forests, the nation’s oldest nonprofit citizen’s conservation organization.

“Our customers are already saving money on electricity and excess paper and are helping reduce carbon emissions from servers by using our Web-based system, but we wanted to go one step further to help the environment,” said Douglas Kegler, president and founder, CollaborateMD. “Of course, the trees are not only an effective means for absorbing and storing the carbon we emit, they also help cool the environment, produce oxygen, and provide a home for birds and other wildlife.”

CollaborateMD will begin the program by donating money to American Forest to purchase 3,000 trees, one for each active user on its system.  In addition, CollaborateMD will purchase another 500 trees to help offset the company’s estimated carbon dioxide output this year. CollaborateMD will repeat the program at the beginning of each year.

Since 1875, American Forests has been working to protect, restore and enhance the natural resource of trees and forests, planting trees in over 500 projects that span every state in the U.S. as well as 21 countries worldwide. Every dollar donated will pay to plant one tree in one of the many projects American Forests has underway and will help the organization reach its goal to plant 100 million trees by 2020.  For more information on American Forests or to donate, go to www.americanforests.org.

For more information on the “Plant a Tree by Going ASP” program visit www.collaboratemd.com/plantatree.

 About CollaborateMD

Established in 1999 and headquartered in Orlando, Fla., CollaborateMD provides physicians and medical billing services with a HIPAA-compliant, Internet-based medical billing software and electronic medical records application that have the speed of a local PC and the “use anywhere” flexibility of a Web browser application. CollaborateMD products are 100 percent Java applications utilizing Sun Microsystems Java Platform. CollaborateMD offers physician offices and medical billing services the opportunity to become more efficient and flexible. For more information, visit: http://www.collaboratemd.com or call 888-348-8457.