SOURCE: Patient Access Solutions Inc.

July 08, 2008 07:00 ET

Patient Access Solutions Inc. Corporate Update

HAUPPAUGE, NY--(Marketwire - July 8, 2008) - Bruce Weitzberg, President and CEO of Patient Access Solutions Inc. (OTCBB: PASO), a leading provider of healthcare/financial processing solutions for the healthcare, homecare and dental industries , would like to present its shareholders with a Corporate update.

Sales for the six month period ending April 30, 2008 compared to the same period last year (2007) increased by 80%.

PAS has hired of a new VP of Sales with over 18 years of technology industry experience

In early June 2008, PAS completed the second layer of integration between digital paper technology and the PAS web portal -- thereby, allowing full, seamless, eligibility and benefit verification transactions, from paper/pen through the PAS network to over 750 insurance companies and plans.

In May 2008, PAS completed their new updated interactive claims analyzer web portal. This new portal allows healthcare providers to monitor claims status from submission to payment, all from their desktop computer. Additionally PAS has instituted ERA (Electronic Remittance Advice) which allows healthcare providers to receive payments from insurance companies via electronic wire in lieu of paper checks.

We recently started 3 different pilot programs with 3 major Home Healthcare Agencies located in North America, with over 35,000 nurses combined, and so far the feedback has been extremely positive. We are currently beginning contract discussions with one of the major Home Healthcare Agencies.

Bruce Weitzberg stated, "We will continue to keep you updated as our business progresses. As always, we appreciate your ongoing support and look forward to a very successful 2008!"

About Patient Access Solutions Inc. (www.pashealth.com)

Patient Access Solutions Inc. (PASHealth) is a Healthcare Solutions company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare environment.

The PASHealth Web Portal System and terminal-based solutions offer electronic medical eligibility, electronic referrals and service authorizations, electronic claims processing, drug formularies, electronic prescriptions, electronic medical records and patient data, automating the labor-intensive and expensive manual process currently used by many facilities and healthcare providers. Our D-PAS product utilizes digital pen & paper technology, to capture handwritten information from the doctor or office personnel, transfer it into a digital form into the PAS web portal and utilize the data to initiate workflows in a secure environment. A patient's medical history and patient records are used to initiate necessary workflows within the web portal, securely and much more efficiently, empowering the healthcare business process. In addition, the Web Portal System offers a complete suite of self pay receivable management solutions for the healthcare facilities.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.

Contact Information

  • Contact:
    Patient Access Solutions Inc.
    631-233-3707