MediSolution Ltd.
TSX : MSH

MediSolution Ltd.

October 23, 2007 17:19 ET

MediSolution Announces the Release of Virtuo Revenue Cycle Management 3.0 for Laboratories

MONTREAL, QUEBEC--(Marketwire - Oct. 23, 2007) - MediSolution Ltd (TSX:MSH) today announced the release of Virtuo® Revenue Cycle Management (RCM) 3.0 for Laboratories, a robust solution specifically designed for laboratories wishing to streamline their billing process and improve their cash flow. The company also announced that Sterling Reference Laboratories, a full-service, nationwide toxicology laboratory based in Tacoma, Washington, has selected the new Virtuo RCM 3.0 solution as their billing solution. The contract will be implemented over the next 6 months.

Virtuo RCM 3.0 for Laboratories features a new fully-customizable rules-based workflow engine which significantly reduces claim denial rates through a series of pre-billing edits that scrub claims for errors prior to submission. The workflow engine speeds up claim submissions by facilitating the posting of electronic remittances, calculating expected reimbursements and automatically generating electronic claim inquiries.

Additional Virtuo Revenue Cycle Management features include:

- Re-designed Graphical User Interface: A new easy to use graphical user interface has been specifically designed to enhance workflow and improve claim processing speed. The user interface is developed in C# and .NET on an Oracle database and is fully integrated with Microsoft Windows environment allowing users to adjust the appearance of the application using Windows properties.

- Flexible Open Architecture: The Virtuo RCM 3.0 product can be customized to meet the unique billing needs of all laboratory environments. The adaptable solution can be integrated with most IT systems from multitude of vendors.

- Powerful Reporting: Virtuo RCM 3.0 uses native Oracle database reporting and is compatible with third-party reporting tools such as Crystal Reports™

- Export Capabilities: Ability to export data to MS Excel and MS Access

- Standards-Based: The solution supports standard HL7 messaging and complies with US HIPAA ANSI X12N standards for electronic communication of claims (including inquiries/response), remittances and eligibility.

Sterling Reference Laboratories serves a variety of Departments of Correction, treatment agencies, physician health plans, child protective services, state drug and alcohol programs, hospital and medical facilities, and employers who require drug testing.

"Virtuo RCM 3.0's flexible client invoicing, full electronic insurance claims processing, electronic client billing, and ability to manage pricing by client, insurance carrier or at the patient level will help us improve our billing operations," said Michelle Elliott, CFO at Sterling Reference Laboratories.

"We are pleased to have Sterling Reference Laboratories join our growing base of Virtuo Revenue Cycle Management customers," said Paul Lepage, president and chief executive officer of MediSolution. "The scalable Virtuo Revenue Cycle Management 3.0 solution for Laboratories will provide our laboratory clients with the necessary tools to automate and manage their patient billing and account receivables workflow while improving operational efficiency."

About MediSolution

MediSolution (TSX:MSH), a Brookfield Asset Management company, is a leading healthcare and public sector information technology company, providing software, solutions and services to customers across North America. More than 500 hospitals and other healthcare facilities and close to 200 public sector and related organizations rely on MediSolution's systems to maximize their operational efficiencies, lower their costs, and improve the delivery of services. MediSolution has two operating segments. The Resource Management Systems segment is comprised of Financial Management software such as accounts receivable, budgeting and materials management as well as Human Capital Management tools including human resource management, staff scheduling and payroll processing. The Healthcare Information Systems segment is comprised of clinical solutions such as patient tracking, electronic patient health records, pharmacy, radiology and laboratory software for healthcare organizations.

For more information, visit www.medisolution.com.

This press release contains "forward-looking statements" regarding MediSolution's Virtuo RCM 3.0 solution. The words "believe", "expect", "anticipate", "intend", "estimate" and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements because they involve known an unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include failure to secure customer interest in the Virtuo RCM 3.0 solution the cancellation of existing Virtuo RCM contracts and the financial management product's failure to generate anticipated business efficiencies and value for the client.

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