Contact: Bonnie Shaw
Clearpoint Agency
(858) 724-2500
Bonnie@clearpointagency.com

For Immediate Release

HERAE Stands Ready With Solution to Medicare’s June 1 Deadline for Suppression of Standard Paper Remittance Advice (SPR)

– HERAE’s complete electronic process for remittance advice easily works with medical providers’ current practice management software and the practice’s existing bank –

San Diego and Dallas - May 15, 2006 - HERAE, LLC, a provider of electronic payment processing providing Direct Deposit for HealthcareTM, is equipped to assist medical providers that need a proven and reliable solution to Medicare’s planned suppression of Standard Paper Remittance Advice (SPR) to providers also receiving Electronic Remittance Advice (ERA) for 45 days or more as of June 1, 2006.

HERAE (pronounced “hurray”) provides a HIPAA-compliant, patent-pending payment system that processes 835 transactions, and facilitates the processing of explanation of benefits (EOBs) and money transactions from health insurers, including Medicare, to medical providers’ bank accounts electronically.

HERAE’s paperless process and clearinghouse capabilities create a consistent, easy-to-read format for explanation of benefits (EOBs), consolidate payments, and solve the coordination problems between the arrival of payments and the corresponding EOBs. Healthcare practices can efficiently post cash, process deposits, work secondary billing, denials, underpayments and refunds. The banking component for movement of funds results in simpler and faster processing, complete elimination of paper envelopes, checks and paper EOB forms, time savings, unprecedented reporting capabilities, as well as decreased fraud and security issues.

“We’ve seen this industry trend coming. Medicare and others payers are setting deadlines for implementation of ERAs and turning off the paper in order to meet the industry’s goal of having a completely electronic system that will save significant resources on processing claims payments,” says Jim Ribelin, executive vice president for HERAE. “Healthcare practices benefit when they have an electronic system that mimics the paper process they’re used to. HERAE is ready to help. With HERAE, practices can give up the paper with confidence. All of this leads to enhanced cash flow and increased profits for the practice. Our patent-pending process and direct deposit system is quickly becoming the preferred payment processing method for physicians, healthcare practice groups and VARs across the country.”

Payment processing is typically one of the most time-consuming and expensive activities for provider offices today. Physician offices in the U.S. are spending $5.5 billion or more a year to manually process claim payments. Time tests conducted by HERAE show that its complete electronic process can reduce billing-to-deposit time for providers and their billing services by as much as two-thirds.

HERAE’s process is very simple to use because it is ASP-based, requiring nothing more than a Web browser. For cash posting activities, HERAE’s browser tiling software, ViewPoint, is installed on the local PC. When the transactions are completed, the data is conveniently stored in a relational database called the Electronic File CabinetTM. HERAE also provides a robust reporting engine that provides on-demand reports to providers to gauge payments, deposits, staff productivity and profitability.

About HERAE, LLC

A privately owned limited liability corporation based in San Diego, California, HERAE provides Direct Deposit for HealthcareTM. Through its unique focus on healthcare provider billing challenges and electronic remittance advice, HERAE has developed a paperless process with standardized explanation of benefits (EOB) forms, detailed reporting and process workflow enhancement capabilities that improve collections, reduce costs by up to two-thirds, and complete the payment to deposit cycle in 24-48 hours. On the Net: www.herae.com or call 888-41-HERAE (888-414-3723).

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