MediSolution Ltd.

MediSolution Ltd.

December 03, 2007 08:00 ET

MediSolution's Virtuo Revenue Cycle Management and Virtuo Business Intelligence Solutions will be Implemented at the Hospital for Sick Children

MONTREAL, QUEBEC--(Marketwire - Dec. 3, 2007) - MediSolution Ltd. (TSX:MSH), today announced that The Hospital for Sick Children (SickKids), Canada's largest centre dedicated to improving children's health, has purchased MediSolution's Virtuo Revenue Cycle Management (RCM) and Virtuo Business Intelligence solutions. The Virtuo RCM system will be implemented throughout the hospital's enterprise and will replace the legacy Account Receivable/Billing System.

The Virtuo Revenue Cycle Management solution with its flexible, exception-based workflow engine will be used to streamline the patient billing processes and improve operational efficiency across the SickKids organization. Virtuo Revenue Cycle Management is designed to speed up claim submissions by facilitating the posting of electronic remittances, calculating expected reimbursements and automatically generating electronic claim inquiries. The MediSolution and SickKids integration teams will develop and implement the required interfaces to enable the Virtuo RCM system to interactively receive patient demographic from the SickKids Patient Registration and service transactions from the Clinical Information Systems.

Specifically designed for healthcare organizations the Virtuo Business Intelligence solution turns data into web-based dashboards and scorecards allowing managers to track key performance indicators to quickly identify trends and implement appropriate action. SickKids will integrate Virtuo's Business Intelligence framework into the Virtuo RCM system which will allow their managers to monitor and track AR and Billing specific key performance indicators.

As world renowned innovators in child health and Canada's most research-intensive hospital, SickKids is focused on improving the health of children by integrating care, research and teaching.

"We are proud to have The Hospital for Sick Children join our growing base of Canadian customers," said Paul Lepage, president and chief executive officer, MediSolution Ltd. "Our comprehensive Virtuo revenue cycle management and Virtuo Business Intelligence solutions will assist SickKids in improving the electronic patient billing workflow and the availability of actionable management reporting throughout their organization."

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.

This press release contains "forward-looking statements" regarding MediSolution's Virtuo RCM 3.0 solution and Virtuo Business Intelligence solution and the contract with The Hospital for Sick Children. 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 additional customer interest in the Virtuo RCM 3.0 solution and the Virtuo Business Intelligence solution, the products' failure to generate anticipated business efficiencies and value for the client and the cancellation of the contract with The Hospital for Sick Children

Contact Information