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HealthTransaction Network connects providers and consumers using anelectronic transaction network system that quickly, securely and efficientlyfacilitates and processes transactions between the parties. The Networkoperates using a shared processing infrastructure, consumer cards and a newelectronic transaction terminal device located at participating providersites.
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"The Network is a win-win for health care consumers and providers," saidJoseph E. Wolfson, President and CEO of HealthTransaction Network. "Itreduces costs for the provider making it possible for them to offer routinemedical services at more affordable rates to the consumer, thereby improvingaccess and patient outcomes."
Participation in the Network is open to all health care providersnationwide and consumers can access and purchase services by subscribing andobtaining a card from a participating provider or employer. The cardsincorporate biometric technologies to ensure patient identification (e.g.,fingerprint and signature verification), and also may be used as a storedvalue card. Consumers will pay only a minimal processing fee to obtain a cardand subscribe to the Network.
The types of services that will be available to consumers that subscribeto the Network include preventive, wellness and routine services such asphysicals, dental cleanings, eye exams mammograms and x-rays. All serviceswill be available on a per transaction basis, and consumers will also haveaccess to generic prescriptions for as low as $7.00.
HealthTransaction Network has plans to expand their electronic health carenetwork in the northeast and ultimately throughout the United States. Thecompany is currently in negotiations with several other health systems andprovider networks and is also engaging small business owners.
"Employers currently unable to afford health coverage for their employeeswill now have another option," explains Wolfson. "By participating in theNetwork employers can contribute to their employees' health care by addingfunds through the stored-value function of the consumer card. The employeescan then use the card to purchase routine medical services at anyparticipating HealthTransaction Network location -- nationwide."
Two health systems in Western New York have signed on as the Network'sfirst provider participants. TLC Health Network and Brooks Memorial Hospitalwill install Network transaction terminals at their many locations and willoffer routine medical services at reduced costs to consumers that subscribe tothe Network beginning in the second quarter of 2008.
"This new program is just the beginning of an exciting new vision for TLCHealth," said Louis Frascella, TLC Health President and CEO. "Byparticipating in the Network, we are increasing access to preventive andwellness services that will ultimately decrease the number of patients thatdelay care until they are very sick."
Studies show that increasing access to preventive medical care decreaseshealth care costs and improves outcomes for patients.
"The challenges of paying for health care touch too many hard workingAmericans and their families," said Wolfson. "We created HealthTransactionNetwork to be the first of its kind -- a health network that makes health caremore affordable and allows the consumer to pay for only those services theyneed, when they need them."For more information visit www.healthtransactionnet.com. CONTACT: Betsy Murrett, 716-842-2222 HealthTransaction Network Kendrick Bentham, 716-951-7041 TLC Health Network
SOURCE HealthTransaction Network(R)
