New clients give CodeRyte, Inc., a strong start to 2008

Bethesda, Md., April 24, 2008—CodeRyte, Inc., the healthcare industry’s premier provider of computer-assisted coding and data extraction technologies, began 2008 with continued growth throughout all market segments. New clients will use CodeRyte’s natural language processing technology (NLP) and Web-enabled workflow software to maximize appropriate reimbursement, reduce denials, decrease outstanding account receivables and improve the efficiency of their coding organizations.

“CodeRyte provides the most accurate coding output and meets the needs of the physicians, patients, payers—everyone involved in healthcare,” said Andy Kapit, CodeRyte chief executive officer and leader of the company’s nearly 100-person staff. “When our codes go directly to our clients’ billing systems they are accurate, and that accuracy is what holds up the system and kick starts a positive cycle that leads to better care and lower costs. A higher value of care leads to happier patients, which leads to more referrals and better return on our clients’ investment. That ultimately translates into more accurate revenue capture and more relevant investment into the future of the healthcare organization.”

CodeRyte’s first quarter growth stemmed from expanding relationships with existing clients and the addition of new clients throughout the academic, physician practice, hospital and medical billing company segments, including:

• Pollux Systems, Inc., an Indiana-based physician office management and medical billing organization that serves clients in Indiana, Kentucky and Tennessee. Pollux holds the distinction of being a "Gold Star Preferred Vendor" for Medicare and currently offers a variety of services and computer software products that are designed for the medical field.

“Efficient, accurate and fully compliant coding is the key performance factor in effective revenue cycle management,” said Paul McGowan, Pollux Systems’ chief executive officer. “We selected CodeRyte because we were looking for a technology partner to leverage our coding and compliance expertise. The selection of CodeRyte is an important strategic, as well as tactical, decision for us. I am very excited about this partnership and I am anxious to see it grow."

• Houston Progressive Radiology Associates, a Houston-based practice with 23 radiologists and two physician assistants. The organization includes physicians with subspecialty training in interventional radiology, diagnostic neuroradiology, body imaging, musculoskeletal imaging, and nuclear medicine. The practice’s promise of excellence is evident in its commitment to subspecialty radiology.

• PG Healthcare Management Solutions (PGHMS), based in Tampa, Fla., is a healthcare management consulting company that provides innovative medical billing and practice management solutions to radiology practices and other specialties. PGHMS offers billing, collection and practice management services to more than 38 radiology facilities. Their services help clients streamline practice operations, which reduces overhead and increases profitability.

“We chose to partner with CodeRyte to enhance our coding accuracy and efficiency which will ensure maximized, appropriate revenue for our clients,” said Kim Bonsignore, PGHMS director of billing and collections. “Based on the many positive references of CodeRyte’s current clients we are confident that their coding technology will allow us to reach that goal.”

For more information, visit www.coderyte.com or call 301.951.5300.

About CodeRyte

CodeRyte is the premier provider of computer-assisted coding and data extraction solutions for the healthcare industry. Our sophisticated technology streamlines the coding process and identifies clinically relevant information from medical records. Our clients secure their rightful reimbursement, enhance compliance and efficiency through computer-assisted coding. CodeRyte’s data extraction solutions analyze the language of physician narratives and elevate previously undiscovered data for critical treatment and business decisions. Many of the nation’s top physician practices, billing companies and academic medical centers rely on CodeRyte as the centerpiece of their coding and data mining operations.

CodeRyte: Sophisticated technology. Superior compliance. Satisfied clients.

Media contact:

Lindsey Henry Moss
301.951.5317
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