A company specializing in electronic exchange of clinical orders moved into the financial arena last week with an agreement to provide claims processing to physicians using a practice management information system from Reynolds and Reynolds Co.
The agreement is the first substantial contract for financial services landed by Fort Lauderdale, Fla.-based ProxyMed since it acquired the assets and business of U.S. HealthData Interchange in November 1997, says ProxyMed President Jack Guinan.
Dayton, Ohio-based Reynolds and Reynolds had signed an agreement in July for ProxyMed's main service, an electronic prescription network that allows direct connections with pharmacies. The claims deal represents the first opportunity to "cross-sell" financial services into its existing clinical client base, Guinan says.
For several years, ProxyMed has been building a national network that links practice management information systems electronically with the nation's pharmacy chains, including Wal-Mart and Walgreens.
While that network falls into place, the company has been acquiring other product lines such as claims processing and laboratory ordering that can generate immediate revenues from electronic transactions.
Late last month, ProxyMed added to its base of on-line physicians through an agreement with IDX Systems Corp. to jointly develop and market automated prescription management tools.
Burlington, Vt.-based IDX is developing a clinical management system that will incorporate electronic submission of prescriptions to pharmacies. Guinan says the deal potentially adds 80,000 physicians to the network, increasing to 230,000 the total number of physicians with access. In addition, ProxyMed agreed to build a network "gateway" to 70,000 physicians using the electronic network of Kinetra, a healthcare information service company recently incorporated as a venture between Golden, Colo.-based IMS Medacom and Plano, Texas-based EDS.