HRAA Announces Open Enrollment for BETA Trial of ICD-10 Analytics Solution, ICDVisualizerTM

Company to Showcase ICDVisualizer(tm) and Coding Services to Support ICD-10 Transition at 2013 Ohio Health Information Management Association (OHIMA) Annual Meeting


Plantation, FL, March 6, 2013 (GLOBE NEWSWIRE) -- Health Revenue Assurance Holdings Inc. (OTCBB: HRAA) a provider of technology and revenue integrity solutions for healthcare organizations, is showcasing  the expanded functionality of the ICDVisualizer™ to support ICD-10 transitions, and today announced open enrollment for beta partners to trial the product.

ICDVisualizer™ helps companies assess and understand the impact of the transition to ICD-10, and how it relates to reimbursement risks, clinical documentation quality, coding productivity and process changes. Analysts and executives are able to explore and visualize their own data through the application's intuitive interface, which features customizable analytics and a unique representation of the Company's financial and operational needs.  

HRAA is currently selecting hospitals, medical groups, payers and service organizations to participate in the ICDVisualizer™ beta program. During the OHIMA Annual Meeting, taking place March 18-20, 2013, HRAA will be demonstrating the product's functions and capabilities.

"With the upcoming transition to the ICD-10 coding system in October 2014, it is vital that hospitals have accurate insight into how the monumental switch from utilizing 24,000 codes to utilizing 155,000 codes for medical billing will impact their businesses," said Andrea Clark, chief executive officer of HRAA. "HRAA has developed a suite of products and services, including the ICDVisualizer™, to help healthcare systems identify issues now, in order to make a seamless transition to the new system and protect their revenue cycles."

HRAA will also be showcasing their comprehensive Coding Solutions, which provide medical coding and billing expertise for healthcare organizations and physicians.

HRAA's Coding Solutions and quality assurance processes employ a domestic-based team of certified coders to provide healthcare organizations with a deep expertise in the complexities of U.S. coding. HRAA is able to outsource a client's coding services to increase productivity, clear backlog, maximize accuracy and standardize their coding to mitigate risks from variability. 

"Estimates predict that with the new ICD-10 coding system, we will see a 50 percent loss of coding productivity and need for a minimum of 30,000 new coders to keep the medical payment and billing system afloat," said Ms. Clark. "To prevent a massive backlog and loss of payments, education and re-training of every healthcare provider and their billing and coding staff must take place now.  HRAA's Coding Services ensure that cash flow doesn't drop off during the initial stages of the ICD-10 transition and thereafter."

Today, HRAA supplies Coding Services to dozens of healthcare systems. One HRAA customer improved the quality of their coded claims data by 10 percent in just seven months, which resulted in a net revenue gain of $8 million.

"At HRAA we understand that our clients' needs around the ICD-10 transition are complex and enterprise-wide," said Dr. Mike Gallagher, chief medical officer of HRAA. "We have created a multidimensional approach that is focused on data analytics and collaborative consulting, to provide organizations with a smooth transition."

For a full list of HRAA ICD-10 transition products and services, the ICDVisualizer™ beta program or to request a demo of the product, please contact: John Anderson - Vice President of Sales at 612-670-6706 or janderson@hraa.com.

About HRAA
HRAA (OTCBB: HRAA) is a leading provider of revenue integrity technology and services for healthcare organizations across the US, interpreting data to ensure that healthcare is efficient and effective for everyone.  Founded in 2001 and based out of Plantation, FL, HRAA combines years of industry expertise with best-in-breed technology to create market leading business intelligence products and consulting services to improve the healthcare delivery experience for doctors, nurses and patients.  HRAA offers the only full suite of solutions needed to keep up with the ever-changing healthcare industry, which include: data analytics software, business intelligence technology, medical coding, auditing, education, revenue cycle consulting, and ICD-10 transition solutions. For more information please visit:  http://www.hraa.com

Caution Regarding Forward Looking Statements
Certain statements in this news release and such conference call are forward-looking, including (without limitation) expectations or guidance respecting customer contract expansion, growing revenues and profits through organic growth and acquisitions, attracting new business that will increase HRAA's revenues, continuing to maintain costs and consummating any transactions. Undue reliance should not be placed on such forward-looking statements because the matters they describe are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the Company's control. The Company's actual results, performance and trends could differ materially from those indicated or implied by such statements as a result of various factors, including (without limitation) the continued strengthening of HRAA's selling and marketing functions, continued customer satisfaction and contract renewal, new product development, continued availability of capable dedicated personnel, continued cost management, the success and availability of acquisitions, availability of financing and other factors, as well as by factors applicable to most companies such as general economic, competitive and other business and civil conditions. Information regarding certain of those and other risk factors and cautionary statements that could affect future results, performance or trends are discussed in HRAA's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission from time to time. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.



            

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