CLEVELAND, Ohio, Sept. 29, 2003 (PRIMEZONE) -- NextMED Systems, a provider of Internet-based medical practice management software and claims-management services, announced that it has received a 2003 CAKI Award, reflecting its emergence as one of Cleveland's most promising information technology companies. The CAKI (Cleveland Area Knowledge Industry) Awards recognize outstanding companies in Northeastern Ohio annually for their successes in creating and applying technology. Cleveland's Mayor Jane Campbell presented the award at a ceremony Tuesday at City Hall.
James Cookinham, executive director of NEOSA (Northeastern Ohio Software Association), noted, "NextMED was selected to recognize its innovative approach to integrating technology, delivering web-based services and providing consultative support to clients. This company has developed a model that can make a significant impact, nationally, on the financial challenges that doctors and hospitals face."
Ronald Amrich, senior vice president for Product Development at NextMED, commented, "We are delighted to receive this award. Our platform drives a long-needed improvement in the ability of physicians and hospitals to apply technology profitably. We help doctors level the playing field with insurance companies by reducing the cost of billing and increasing revenue collections at an affordable price. We deliver results that are not available from the uncoordinated efforts of multiple vendors."
NextMED provides doctors and hospitals with innovative partnerships and a different way of doing business. NextMED's software saves money and time for physician practices by providing accurate data to third-party payers, reducing rejected or disputed claims and simplifying billing procedures. Customer acceptance has proven that this model works by improving practice profitability and cash flow, often by as much as 10 percent in the short term.
"NextMED helps me manage my revenue, my costs and my cash flow," observes Dr. Sandy Takai, a longstanding NextMED client. "I can't understand why so many doctors fear bringing systems like this into their business. Technology is already in the marketplace. Technology will be used by insurance companies and the government against doctors who don't use it to protect themselves."
NextMED serves as its clients' technology partner, integrating a variety of best-of-breed applications from numerous vendors into its platform. NextMED hosts the system and delivers its capabilities via a virtual private network and its web portal. The portal allows clients to forego investment in and maintenance of information technology, providing major savings and simplifying practice management. The system makes it easy for clients to accomplish critical functions such as electronic claim submission, saving time and cost by reducing manual labor and errors. Flexible interfaces promote connectivity with multiple payors, speeding the rate at which clients receive payments. NextMED's tools, such as the Denials Manager, provide clients with timely analyses of problems, which enable changes that improve revenue. Other tools automate the referral process, scan forms into the system and support financial management. NextMED's client revenue managers meet regularly with customers, helping them to take full advantage of the system's capabilities and providing advice on a range of relevant issues.
About NextMED Systems, Inc.
NextMED Systems, Inc. levels the playing field between doctors and insurance companies by providing outsourced billing and claims management services to the outpatient care industry. Headquartered in Cleveland, NextMED employs over 150 people in Ohio, Pennsylvania, Maryland, Virginia and Seattle. Through NextMED's web-based portal, The Physician Desktop Manager(, users connect to NextMED's products and services via a secure private intranet environment. Services also include an integrated suite of software-based business and clinical applications, as well as analytical and decision support tools that are available at physicians' desktops. NextMED can be contacted at (216) 674-0511 or www.nextmedsystems.com.