ATLANTA, May 01, 2012 (BUSINESS WIRE) -- Navicure, a leading Internet-based medical claims clearinghouse for physician practices, today announced that the company added 344 new practice locations to its client base during the first quarter of 2012. This represents a 112% increase in new sites booked over the first quarter of 2011. Navicure also experienced a 24% increase in revenue compared to 2011. This follows a year of record growth for the company, which experienced a 28% increase in revenue in 2011 over 2010.

Navicure's Web-based solutions help practices improve operating margins and enhance cash flow through automated revenue cycle and account receivables management solutions. The company's account receivables management solutions automate receivables processes, including patient eligibility verification; primary and secondary claims reimbursement; rejected and denied claims management; electronic remittance posting; claims and remittance reporting and analysis; and patient statement processing. Some of the practices that have recently selected Navicure include:

-- Healthcare Billing Incorporated, which is based in Flemington, N.J. and provides medical billing and consulting services ranging from staff training, IT support, transcription services and coding support to 33 providers across the country.

-- Nephrology Associates of Northern Illinois, the largest nephrology practice in Illinois and second largest in the country, has 79 providers at more than 30 locations across Illinois, Indiana and Ohio.

-- Pottstown Medical Specialists, Inc., a multi-specialty practice in Pottstown, Pa., has 49 providers and has been serving patients since 1978.

"We are excited about the new partnership we are forging with Navicure. Their commitment to helping us improve our revenue cycle through a variety of tools and their ability to integrate with our current technology solutions were key factors when we decided to change clearinghouses," said Beryl Everist, director of patient accounting services of Pottstown Medical Specialists, Inc. "With our old clearinghouse, our days in A/R increased by more than 33 percent. Already with Navicure we have been able to reverse some of that issue while also improving other key metrics."

"Navicure's management team and board of directors are really pleased with the company's first quarter performance. Beyond our financial results, we're happiest to see continued high client satisfaction in the face of the challenging HIPAA 5010 transition," said Jim Denny, founder, president and CEO of Navicure. "The transition proved to be a pivotal event for those in our industry, and we were able to showcase our preparedness for the transition and our unique 3-Ring client service policy. We're thankful for our clients who worked alongside us during this transition, and we're excited that our customer service continues to be a key differentiator for us."

About Navicure

Navicure is a leading Internet-based medical claims clearinghouse that helps physician practices increase profitability through improved claims reimbursement and staff productivity. Serving over 20,000 healthcare providers in practices nationwide, Navicure's solutions automate account receivables processes, including primary and secondary claims reimbursement; patient eligibility verification; rejected and denied claims management, including appeals; electronic remittance and posting; claims and remittance reporting and analysis; and patient statement processing. Navicure's solution is supported by its unique 3-Ring Client Service(TM) which guarantees that a client service representative will answer every client call in three rings or less.

Navicure is a member of the MGMAAdminiServe(R) Partner Network, an exclusive group of pre-screened, peer-reviewed and tested vendors. Navicure is also the founding sponsor of www.icd10hub.com , a free educational website devoted to making physician practices' transitions to ICD-10 and 5010 easier. Navicure continues to be ranked among the fastest growing companies nationally in the Inc. 5000 and Deloitte Fast 500 rankings. For more information, please visit www.navicure.com .

SOURCE: Navicure

        
        For Navicure 
        Dodge Communications 
        Megan Smith, 770-576-2560 
        
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Copyright Business Wire 2012

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LAGUNA HILLS, Calif., May 1, 2012 -- /PRNewswire/ -- Vessix Vascular, Inc., a developer of novel percutaneous radiofrequency (RF) balloon catheter technology for the treatment of hypertension, announced today that it has received Conformite Europeenne (CE) Mark approval for its V2 Renal Denervation System™ for the treatment of hypertension. Renal denervation is a percutaneous, catheter-based therapy that uses RF energy to disrupt renal sympathetic nerves whose hyperactivity leads to uncontrolled high blood pressure. 

The CE Mark enables Vessix to market its patented V2 System throughout the European Union. The CE certification was issued to Vessix by its notified body, BSI Group, also known as the British Standards Institution.

"Vessix offers a unique approach to treating uncontrolled hypertension that provides excellent clinical results and is faster, easier to use and less painful for patients than any renal denervation system currently available in the market," said CEO Raymond W. Cohen. "After eight years optimizing RF balloon catheter and bipolar RF generator technologies, it is rewarding to see the V2 System working effectively in clinical practice to safely reduce patient blood pressures. As part of our commercialization strategy, Vessix has initiated a post-market approval surveillance study during which we plan to treat 120 patients at up to 20 international centers located across Western Europe."

Hypertension is the leading attributable cause of death worldwide. According to the American Heart Association, a 5 mm Hg (millimeters of mercury) reduction in systolic blood pressure results in a 14 percent decrease in stroke, a 9 percent decrease in heart disease and a 7 percent decrease in overall mortality. Renal denervation has shown in published clinical studies to be safe, durable and effective in reducing systolic blood pressure by approximately 20 percent.

Michael D. Gioffredi, Vessix's Chief Commercialization Officer said, "Renal denervation is rapidly becoming one of the most important medical device developments in decades and we believe that our unique design will set a new standard for the treatment.  In light of this regulatory clearance and the strong early clinical results from our multi-center European pilot study, we are moving forward with our commercialization plans in Europe and we look forward to sharing additional pre-clinical and human data at upcoming medical conferences in support of that launch."

Vessix to Present Initial Clinical Study Results at EuroPCR Conference in ParisMay 15-18

Vessix will present interim clinical results from its pilot REDUCE-HTN clinical study for patients with uncontrolled hypertension at EuroPCR 2012.

Professor Uta Hoppe, M.D., of Paracelsus Medical University in Salzburg, Austria, will present one-month post-treatment safety and efficacy data from her patients treated at Paracelsus and additional patients treated at Georges Pompidou Hospital in Paris, France and OLV Ziekenhuis in Aalst, Belgium. The presentation will be made during the "Emerging Interventional Technologies for Treatment of Resistant Hypertension" at 8:00 - 10:20 a.m. local time on Thursday, May 17 in Room 241 at the Palais des Congres de Paris.

Find Vessix at EuroPCR 2012

Vessix will be exhibiting its V2 Renal Denervation System in booth M72.

Vessix CEO Raymond W. Cohen will also present at the Cardiovascular Innovation Pipeline on Renal Denervation to be held on Wednesday, May 16 at 15:00 local time in Room 351.

About the Market for Renal Denervation

Industry analysts suggest that there are more than 12 million patients worldwide whose blood pressure remains uncontrolled despite taking three or more anti-hypertensive medications representing a global market opportunity for renal denervation that could ultimately grow to $30 billion.

About the Vessix V2 Renal Denervation System

• The V2 System for the treatment of uncontrolled hypertension is an over-the-wire balloon catheter with an array of RF electrodes mounted in a precise pattern designed to deliver a modest dose of RF energy to disrupt the renal nerves located in the adventitia that surround the renal artery. The patented RF balloon catheter connects to a proprietary bipolar RF generator specifically designed and optimized for the renal denervation clinical application.
• Therapy is delivered via a balloon catheter that is quite familiar to interventional cardiologists and other physicians, thereby increasing the usability and safety profile of the device.
• The V2 balloon catheter occludes blood flow to the renal artery during the 30-second RF therapy delivery allowing for a directed and highly controlled flow of heat energy to the target nerves. Consequently, the V2 is significantly faster – by an order of magnitude – than other renal denervation systems currently marketed.
• Rapid RF treatment time greatly increases the efficiency of the denervation procedure and additional safety benefits to the clinician conducting the procedure and the patient in terms of less use of contrast dye and lower exposure to radiation.

About Vessix Vascular, Inc.

Founded in 2003, Vessix is a private company developing novel RF balloon catheter and bipolar RF generator technology. The Company is backed by world-class European and U.S. venture capital firms including NeoMed Management, Edmond de Rothschild Investment Partners and OrbiMed Advisors LLC. For more information on Vessix Vascular, please visit the Company's website at www.vessixvascular.com or contact Matt Clawson at Allen & Caron Inc at +1-949-474-4300 or via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

SOURCE Vessix Vascular, Inc.

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