SOURCE: CodeCorrect

July 26, 2005 11:13 ET

CodeCorrect Aquires ChargeMasters.com and Becomes Healthcare's Largest Provider of Chargemaster Products

YAKIMA, WA -- (MARKET WIRE) -- July 26, 2005 -- CodeCorrect, Inc., an industry leading provider of healthcare coding, compliance and revenue cycle applications, announced today that the company has acquired Nevada-based ChargeMasters.com, a provider of web-based medical revenue cycle solutions. Terms of the transaction were not disclosed.

Bud Carroll, President of ChargeMasters.com, commented on the transaction, saying, "I am personally excited about what this acquisition means to our customers, and the industry as a whole." Carroll further stated, "By aligning with CodeCorrect, we can now offer a wide range of tools focused towards revenue cycle management, along with chargemaster management solutions with the most robust features and benefits in the industry today."

Kerry Martin, CEO of CodeCorrect, Inc., said, "The acquisition supports CodeCorrect's aggressive growth plans and commitment to being a leader in the chargemaster and revenue cycle arena." Martin continued, "We are excited to become the largest provider of Web-enabled revenue cycle products for hospitals and to have another team of experts join our staff. Our clients can continue to expect outstanding client service and enhanced product offerings from CodeCorrect."

ChargeMasters.com has become a strong competitor in the healthcare industry, providing their CDMToolbox™ and CDMWorkbench™ products to nearly 150 hospitals throughout the United States. The products provide chargemaster analysis, audit, and compliance research tools. As part of the acquisition, both products will be incorporated into the CodeCorrect RevenueSource® suite. RevenueSource is a comprehensive suite of tools, information and applications that enable healthcare organizations to maintain fiscal health by proactively managing their coding, compliance and revenue cycle operations. CodeCorrect products are in use in over 500 hospitals nationwide.

CodeCorrect is owned by United Communications Group, a portfolio of highly focused business and professional publishing companies serving the healthcare, energy, tax, telecom, technology and finance industries. Todd Foreman, a partner at UCG, said, "We are extremely excited about the addition of ChargeMasters.com to the UCG family of companies. Our acquisition of CodeCorrect almost exactly a year ago has worked out even better than we could have imagined and we plan to continue to support their plans for growth with additional acquisitions."

For more information on UCG, visit www.ucg.com or call Todd Foreman at 301-287-2366.

About CodeCorrect

CodeCorrect is dedicated to protecting the healthcare system by simplifying information and improving communication through the integration of products, knowledge and technology. With online, one-stop coding and compliance solutions, CodeCorrect gives healthcare organizations the tools and information they need to achieve and maintain fiscal health. CodeCorrect solutions have been peer reviewed by the Healthcare Financial Managers' Association and are trusted and used in over five hundred hospitals and by thousands of physicians nationwide. CodeCorrect is owned by United Communications Group, one of the nation's largest and most respected providers of business information and software for 27 years. For more information on CodeCorrect, visit www.codecorrect.com or call 877-937-3600.

Contact Information

  • CodeCorrect Contact:
    Darrin C. Lee
    Director of Product Marketing/Product Management
    720.524.9257
    Email Contact

    CodeCorrect, Inc.
    1200 Chesterly Drive, Suite 260
    Yakima, WA 98902
    877.937.3600
    www.codecorrect.com