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Nightingale signs US$3.1 million enterprise agreement with Baltimore hospital
Publish Date : 12/20/2007 5:21:00 AM   Source : IT and Management News Onlypunjab.com

Nightingale Informatix Corporation ("Nightingale") (TSX VENTURE: NGH), one of North America's fastest growing healthcare software and services providers, today announced that it has signed a three-year $3.1 million revenue cycle management contract with Baltimore, Maryland-based Harbor Hospital, a 203-bed hospital with 52 employed physicians and an affiliated network of more than 200 active physicians. All financial terms are in U.S. dollars.

The success and growth of our internal physician group has added a level of complexity that makes it more challenging to manage administrative burdens," said Joe Oddis, CEO of Harbor Hospital. "With Nightingale as our partner, patient care can remain our primary focus. They provide a great combination of tools and a skilled support team with extensive experience that will help us successfully centralize our revenue cycle operations, improve our current administrative workflow and enable us to effectively monitor our employed physician operations."

Under the terms of the agreement, Nightingale will provide revenue cycle management services to Harbor Hospital's internal physician group. The initial term of the agreement is three years, with an option to renew. Nightingale will receive payment, on a recurring monthly basis, totaling $3.1 million over the initial three-year term of the contract.

Nightingale's revenue cycle management offering combines accounts receivable management, electronic claims processing, patient billing collection, claims tracking, payment verification, healthcare provider regulatory compliance verification and provider credentialing services into a centralized service platform. Through its revenue cycle management offering, Nightingale enables physicians to reduce claim denials, receive faster payment and minimize overhead costs. It replaces the burden of insurance processing with improved cash flow and more time for patient care.

"We are pleased to partner with Harbor Hospital to help streamline their workflow and expand their revenue potential using our revenue cycle management service," said Sam Chebib, president and CEO of Nightingale. "The agreement reflects our strengthening presence in the U.S. healthcare industry, and in particular our growing beachhead in the Northeastern U.S. Importantly, it will expand our recurring revenue base and serves as a testament to our ability to successfully help enterprise customers drive efficiency and focus on improved patient care.

About Harbor Hospital

For more than a century, Harbor Hospital has grown alongside the communities it serves in Baltimore City, Anne Arundel, Baltimore, and Howard counties. The hospital was first established in 1903 as a small community clinic servicing the waterfront community in Baltimore. It is the only hospital in Maryland, Delaware, and Washington, D.C. to earn the prestigious Medicare Excellence Award for 2006. Harbor Hospital also received the award in 2007 as they continue to offer the personal touch of a community hospital with the excellence of a high technology medical center.

With more than 500 physicians representing 30 medical and surgical specialties, and more than 1,000 employees, the hospital offers a full range of health care services for patients from infancy through the senior years. Harbor Hospital's specialty areas include orthopaedics, women's services, cancer care, diabetes care, fetal assessment, cardio-pulmonary rehabilitation, and treatment of chronic lung conditions. The hospital's continuum of care also includes wellness programs, outpatient services, and inpatient treatment.

Harbor Hospital is a member of MedStar Health, a not-for-profit, community-based health care organization comprised of seven major hospitals and 25 integrated businesses in the Baltimore/Washington area. MedStar Health is the third largest employer in the region with 23,000 employees and 4,600 affiliated physicians.

About Nightingale

Nightingale is one of the fastest growing health care service and software companies in North America with over 4.7 million patient records under management in a hosted (ASP) environment. It is recognized as an industry leader in Web-based clinician and community based electronic medical records (EMR) serving the needs of small primary care practices, multi-physician outpatient clinics, and large scale regional health organizations and networks. Coupled with integrated practice management, transcription and revenue cycle management, Nightingale's comprehensive service offering allows customers to enhance patient care, increase revenue opportunities and optimize operations. Nightingale is continuously innovating and enhancing its services to meet the needs of its growing and diverse customer base.

Nightingale - Healthcare connected. www.nightingale.md

Forward Looking Statement

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may" ,"could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nightingale to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the speculative nature of the medical software industry, which is affected by numerous factors beyond Nightingale's control; the existence of present and possible future government regulation; the significant and increasing competition that exists in the medical software industry; the early stage of Nightingale's business; and therefore it is subject to the risks associated with early stage companies, including uncertainty of revenues, markets and profitability and the need to raise additional funding.

Although Nightingale has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Nightingale does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Further information on Nightingale Informatix Corporation is available at www.sedar.com



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