this is a PR from 1998 I wonder if they have patents or are still doing work ? ............................................................... New Windows NT Data Entry Product for Managed Care Offered by ImageMatrix
DENVER, Aug. 14 /PRNewswire/ -- Today ImageMatrix Corporation (Nasdaq: IMCX) announced the general availability of DataMatrix, a new component of its product suite. DataMatrix, specifically designed for the healthcare industry, improves claims processing and increases worker productivity; it utilizes new processing algorithms and techniques to improve data quality and performance of HCFA1500 and UB92 paper-based claims. These industry-standard forms are completed each time a medical service is provided, with an estimated three to four billion forms processed each year.
Dennis Hefter, President and Chief Operating Officer of ImageMatrix, states, "The delivery of DataMatrix further distinguishes ImageMatrix as the market leader for claims processing and customer satisfaction solutions for managed health insurance. This solution offers a new approach for health insurance organizations to improve claims data accuracy and processing productivity, currently unmatched by our competitors."
Nowell Outlaw, Chief Technology Officer, states, "New technologies for improving data quality and employee productivity are always strategic improvements for the health insurance industry. Through the implementation of this solution, health insurance organizations now have a more efficient on-line claims capability -- built upon industry-standard platforms such as Microsoft Windows NT and Microsoft SQLServer."
DataMatrix offers health insurance organizations an on-line interface to process claims utilizing document imaging and workflow technologies. The product is unique in its open approach and ability to natively integrate into existing claims processing systems and provide a cleaner, more efficient method of processing claims within the insurance organization. The product offers pre-adjudication processing and offers health insurers an up-front process to meet Year 2000 compliance for data validation. Combined with the existing CaptureMatrix, ServiceMatrix and ClaimMatrix products, the new DataMatrix module further expands the benefits of the ImageMatrix product suite.
Based on Microsoft Windows NT(R) and Microsoft Windows 95/98(R) at the desktop, DataMatrix takes advantage of Microsoft's(R) powerful 32-bit user interface, which makes the product easy to learn and understand. It can be used as a stand-alone software package, or it can be integrated with ImageMatrix's ClaimMatrix, ServiceMatrix and CaptureMatrix software products to form a complete on-line claims processing and customer service solution.
Founded in 1992, Denver-based ImageMatrix (Nasdaq: IMCX) is dedicated to improving customer satisfaction, productivity and information management capabilities of HMOs, health insurance providers, dental insurance providers and other types of MCOs by providing turnkey customer service and claims processing solutions. The Company's computer-based systems, including ClaimMatrix, ServiceMatrix and CaptureMatrix, use state-of-the-art technology platforms such as a Microsoft Windows NT (Nasdaq: MSFT) network operating platform, an Oracle (Nasdaq: ORCL) or Microsoft SQL Server (Nasdaq: MSFT) relational database, and a FileNET (Nasdaq: FILE) imaging workflow engine. In addition to its Denver headquarters, ImageMatrix has regional offices in Atlanta, GA; Minneapolis, MN; San Antonio, TX; St. Louis, MO; and Shelton, CT.
The Company notes that actual results may differ from the forward-looking statements made above which involve risks and uncertainties, including, but not limited to, the risk that the market for imaging-based claims processing and customer service may not develop as expected, the risk that the long sales cycle associated with claims processing and customer service systems could delay revenues, the risk of a history of and current, operating losses, the risk that the Company's products will not achieve market acceptance or result in profitable operations, the risk of variability of quarterly operations, as well as those risks and uncertainties discussed more completely in the ImageMatrix Corporation Form SB-2 Registration Statement and the ImageMatrix Corporation Annual Report on Form 10-KSB/A for the period ended December 31, 1996, as well as the Form S-3 dated October 3, 1997 and the 1O-QSBs for the periods ended March 31, 1997, June 30, 1997, and September 30, 1997.
Additional product information can be obtained from the ImageMatrix Web Site at the following URL: http://www.image-matrix.com
DataMatrix(TM) CaptureMatrix(TM), ClaimMatrix(TM) ServiceMatrix(TM), and ImageMatrix(TM) are common-law trademarks of ImageMatrix Corporation. All other company and product brand names mentioned may be trademarks or registered trademarks of their respective holders, and are hereby acknowledged.
/CONTACT: Press: Susan Adams of ImageMatrix, 303-399-3700; or Investors: Dian Griesel of The Investor Relations Group for ImageMatrix, 212-664-8489/