Message #4 From:
NewsBot Date: December 13, 2005 02:58:00 AM
UDHI News Union Dental Holdings Announces HIPPA Compliant Web Link Solutions
CORAL SPRINGS, Fla.--(BUSINESS WIRE)--Dec. 13, 2005--Union Dental Holdings, Inc. (OTCBB:UDHI) - http://www.uniondental.com - a provider of multi-state dental services for union members, is pleased to announce, that its Strategic Alliance partner Transax International Limited (OTCBB:TNSX) has completed critical components of a HIPPA (Health Insurance Portability and Accountability Act 1996) compliant version for software solutions in the medical and dental industry.
The Solution is an internet browser-based application developed under the Microsoft.NET (NASDAQ:MSFT) platform. The server solution has been developed in Java and operates as a front-end to a number of Practice Management Systems already installed in large clinics, dental offices, hospitals and laboratories.
President and CEO of Union Dental, Dr. George D. Green, stated, "We are very excited about the development of this solution for the dentists in our dental network and we plan to introduce this to our members sometime in 2006 after we do the Beta testing in our dental office in Coral Springs."
The Solution processes "on-line" and "real time" eligibility verification, claims submission and claims adjudication in a single pass environment. The proven solutions reduce medical, dental, operational and administrative costs for both payers and providers and are now HIPPA compliant.
UDHI intends to add a fourth additional solution feature for dentists in its network allowing them to receive payment for procedures performed within a 24-36 hour time frame for all adjudicated claims.
Dr. Green further stated: "As a practicing dentist, receiving payment for services rendered in that short period of time is a major breakthrough for all practitioners in our field and UDHI would receive a fee for this payment solution. Currently there is no system that I am aware of which can verify eligibility, submit claims, adjudicate the claim and have payment in the 24-36 hour time period in an `on-line real time' format."
The Solution can be used by any medical or dental provider that has access to the web through a standard browser.
Dr. George D. Green Goes "Beyond the Press Release"
Please join Dr. Green as he goes "Beyond the Press Release" to provide shareholders with an audio address that further discusses and explains the strategic importance of the HIPPA Compliant Web Link Solutions. The address will be available on the Union Dental Investor Relations Hub at http://www.agoracom.com/ir/uniondental on or before December 19, 2005.
This press release is available on the company's official online Investor Relations HUB at http://www.agoracom.com/IR/UnionDental for all investor questions, answers and discussion within a monitored environment. Alternatively, investors are able to e-mail all questions and correspondence to UDHI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries and provide dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America ("CWA") and International Brotherhood of Electrical Workers (IBEW) Dental Networks. Union Dental Corp. receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. DDS/UDC has contracts with CWA & IBEW Local Unions to provide a dental network utilizing the members existing insurance policy. The dentists in the Dental Network provide services in the areas for union members, as well as existing patients in exchange for an annual management fee. The network of dentists accepts payment from union insurance plans for services rendered as payment in full, with certain procedures requiring a small out-of-pocket co-payment from the union member patient. In addition, Union Dental Corp. acquired the assets of an existing dental practice (excluding the patient list) and successfully integrated those assets into its existing practice which has been servicing patients for 17 years in Coral Springs, Florida. UDC and DDS are wholly owned subsidiaries of Union Dental Holdings, Inc.
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
