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Navicure Reports Record December Sales to End Strong 2013

January 23, 2014

Healthcare payment firm achieves 24 percent revenue growth in 2013, marking 12th straight year of strong growth

ATLANTA--(BUSINESS WIRE)-- Navicure, a leading healthcare payment solutions provider for hospitals, physician practices and billing companies, today announced the company recorded $63.3 million in revenue for 2013, a 24 percent increase in year-over-year revenue from 2012. The company’s momentum continued with December’s 56 percent bookings increase over December 2012.

Several factors contributed to Navicure’s success, including a growing client base of health systems and billing services. The company added several health systems in the fourth quarter and developed key partnerships offering thousands of providers with access to Navicure. New health system clients chose the payment firm’s technology so employees could use physician-centric tools to succeed in today’s tough reimbursement environment and for Navicure’s ability to integrate successfully with their practice management system software.

“We needed a solution that would not only accelerate our cash flow and improve staff productivity, but also integrate seamlessly with our future Epic practice management system implementation,” said Bill Oliver, revenue cycle administrator for Lehigh Valley Physician Group, a subsidiary of Lehigh Valley Health Network that includes nearly 1,000 providers servicing the Allentown, Pa. region. “Navicure’s award-winning claims management solution backed by its exceptional client service fit the bill. We look forward to a successful long-term relationship.”

Organizations are also looking to have reliable healthcare payment tools in place as they prepare for the transition to ICD-10 and the implementation of the Affordable Care Act (ACA) in 2014. New clients also acknowledged they chose Navicure as their healthcare payments solution because of the company’s ICD-10 preparedness coupled with their performance during the 5010 transition. Additionally, clients noted Navicure provides unique value through their acclaimed client service and the variety of complimentary educational resources available to help with ICD-10 training, including www.icd10hub.com and the newly launched ICD-10 Analyzer™.

“2013 was another exciting year for Navicure,” said Jim Denny, co-founder and president of Navicure. “Even more gratifying than our financial results is the fact that we were able to make inroads with both health systems and billing service companies. We’ll help them and all of our clients prepare for both ICD-10 and the ACA transitions. Our current and new products launching in 2014 are designed to enable our clients to transition as easily through these changes as past transitions.”

About Navicure

Navicure’s healthcare payment solutions help provider organizations increase revenue, accelerate cash flow, and reduce cost from managing insurance claims and patient payments. Serving over 50,000 healthcare providers nationwide, Navicure’s technology 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 and payment processing. Navicure’s solutions are supported by its unique 3-Ring® Client Service which guarantees that a client service representative will answer every client call in three rings or less, even during times of transition such as 5010 and ICD-10.

Navicure is the exclusive revenue cycle solution of the MGMA AdminiServe® Partner Network and an MGMA Executive Partner. The company received “Best in KLAS” distinctions for the claims and clearinghouse services market segment as part of the 2008, 2010 and 2012 Best in KLAS Awards: Software & Services report (www.KLASresearch.com). KLAS is a leading source of information on healthcare information technology vendor performance.Navicure also received the 2013 Gold Stevie Award for Healthcare Customer Service Team of the Year as part of the 2013 Stevie Awards for Sales and Customer Service.

Navicure is the founding sponsor of www.icd10hub.com, a free educational website devoted to making physician practices’ transitions to ICD-10 easier. Additionally, ICD-10 Analyzer by Navicure (navicure.com/icd10analyzer) is a complimentary online tool that enables medical billers to identify the ICD-9 codes that will most impact a user’s payer reimbursement and suggest corresponding ICD-10 codes. 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.



Dodge Communications

Megan Smith, 770-576-2560

msmith@dodgecommunications.com

Source: Navicure


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