April 26, 2007—CareMedic Systems Inc, St. Petersburg, Fla, a developer of financial management services for hospitals and providers, announced yesterday the release of its OptimizeAR Consolidated Payment Management system, which addresses the challenges associated with combining payment data received on paper with data received electronically.

“We saw a real need among our customers for a solution that would expedite and automate the payment management process, as well as facilitate better reporting,” said CareMedic CEO Sheila Schweitzer. “Accurately converting paper-based Explanation of Benefits information to electronic data not only improves workflow, but it optimizes reconciliation, management and reporting. In addition, Consolidated Payment Management allows health care organizations to reduce the cost of paper document storage and retrieval.”

OptimizeAR fits seamlessly with the company’s other revenue cycle tools; it can automatically upload indexed EOB images to the ImageAR document management system and can transfer denial and other data to CareMedic’s OptimizeAR Denial Management system and electronic Financial Record.

—Cat Vasko