OMAHA, Neb., Dec. 6, 2006 (PRIME NEWSWIRE) -- Coastal Technologies, Inc. (Pink Sheets:CTTJ) (the "Company"), a publicly traded company, today reported the field test results for its Chiropractic E-Health System. Through its subsidiary Goldman & Goldman, Inc. field testing in Chiropractor offices in Illinois has been completed and testing on electronic claims transmissions to third party payers will be completed this week. The Company will use the Hilliard, Ohio facility as an application service provider (ASP) to provide computer-based services to customers over a network.
In addition, Joel Goldman announced that the Company has been approved HIPAA-certified for the submission of Medicare claims electronically and is a qualified vendor to several Medicare Third Party Processors including Noridian and WPS Medicare. Noridian Administrative Services' (NAS) jurisdiction as a Medicare carrier includes the following states: Alaska, Ariz., Colo., Hawaii, Iowa, N.D., Nev., Ore., S.D., Utah, Wash., and Wyo. WPS Medicare covers the states of Wis., Ill., Minn. and Mich. Goldman stated, "These approvals are significant since they open our market initially to 16 states when we launch the program in January."
The recent acquisition of Goldman & Goldman and the introduction of its Chiropractic E-Health System are targeted at the Chiropractor in solo private practice. Robin D. Moody, CEO of the Company stated, "Chiropractors in solo private practice account for 67 percent to 76 percent of all those in practice with the number of chiropractors growing faster than physicians. We believe we are well-positioned to seize a larger portion of this market in 2007."
Coastal Technologies is a leading, full-service Information Technology (IT) consulting firm and custom software developer. Coastal Technologies leverages its staff to create cost effective IT solutions and provide true end-to-end total business infrastructure integration. The Company's comprehensive service offerings range from project-related consulting to full IT outsourcing, and all critical needs in between.
Forward-Looking Statements: Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Coastal Technologies actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.