Cedaron Medical and ProVation Medical Launch
Joint Marketing Agreement
MINNEAPOLIS, MN, July 30, 2004 – ProVation®
Medical, Inc. and Cedaron Medical, Inc. today announced a co-marketing agreement
for ProVation Medical's clinical procedure documentation and coding compliance
software and Cedaron Medical's specialty
information and outcomes management system for cardiology patients.
ProVation® MD/RN software for
multi-specialty procedure documentation and coding compliance replaces the
inefficient dictation/transcription approach and streamlines the coding and
billing process. Driven by deep medical content, ProVation MD allows clinicians
to quickly and completely document medical procedures and apply the appropriate
CPT and ICD codes, as well as CCI edits.
Cedaron Medical's CardiacCare product is an
HL-7 compatible fully integrated software system incorporating patient
demographics and medical records, outcome analysis and reporting. The software
integrates the National Cardiology Data Registry database of the American College of Cardiology and the database of
the Society of Thoracic Surgery to provide real-time benchmarking and outcomes
analysis capabilities.
“Cedaron Medical
is committed to
taking the confusion and conflict out of outcomes documentation management by
consolidating data, simplifying work, and saving time for
cardiologists,” said Karen
Bond, President and CEO, Cedaron Medical.
“By partnering with ProVation Medical, we can offer cardiologists all
this – plus the revenue recovery that comes from automated clinical procedure
documentation and coding compliance.”
“With
the general release of ProVation MD software for Cardiology in early 2005 comes
a commitment to forming strategic partnership with companies whose products
complement our systems and offer additional value to our cardiology customers,”
said Mark Wagner, chief executive officer, ProVation Medical. “Our combined product offering will
provide the ultimate in streamlined, efficient procedure documentation, coding
and outcomes analysis.”
About
Cedaron Medical, Inc.
Cedaron Medical was founded and
began technological development in 1990 with partial funding from a NASA grant
(SBIR). Cedaron has grown to become the authority in the health care "outcomes"
market. For over a decade, Cedaron has been developing and refining its
comprehensive solution, Dexter®. This package has been specifically designed for
orthopedic surgeons, hand surgeons, physical therapists and occupational
therapists. Cedaron also provides complete solutions for cardiology, thoracic
surgery, plastic surgery and several other medical specialties. To date, Cedaron
has serviced more than 300 facilities in over 15 countries and owns five related
patents. Cedaron is located in Davis, CA
About
ProVation Medical, Inc.
ProVation
Medical, Inc. (Minneapolis,
MN), a leading healthcare software
and services company, provides solutions that significantly enhance revenue and
decrease costs per medical procedure. Hospitals and Ambulatory Surgery Centers
that use ProVation Medical software (1) improve their coding accuracy resulting
in a 5-25 percent improvement in reimbursement for their medical procedures, (2)
eliminate transcription costs, and (3) consolidate and simplify all the major
financial, clinical and administrative tasks that accompany each
procedure.
ProVation MD/RN software
replaces inefficient dictation/transcription processes, producing complete,
billing-ready, image- and diagram-enhanced documentation for multi-specialty
clinical procedures. Through an innovative “Anticipatory Interface®”, the
software links deep medical content designed by ProVation’s in-house 11-member
physician and coding staff to compliant CPT/ICD/CCI-edit reimbursement codes,
producing a comprehensive operative note. The result is coder-ready
documentation delivering compliance, proper reimbursement, and shortened days in
Accounts Receivable with an ROI ranging from 25-200% and payback within 12-20
months. For more information, go to www.provationmedical.com.
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2004 ProVation Medical, Inc. All Rights
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Anticipatory
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