CareCentric Experiences Dramatic Growth Over the Past Year

Company unique in serving the entire post-acute care industry with a total solution  

ATLANTA (April 23, 2007)—CareCentric Inc. reported today that revenue and operations nearly doubled in 2006, dramatically reflecting the company’s dedication to providing a complete business solution to the entire post-acute care market—HME, home health and long-term care.

“Our operations now include eight facilities, more than 350 experienced professionals, and a full suite of products and services,” said John Festa, CEO and president. “ Not only do we dwarf all other companies in size and services, but our multi-line of business solutions are unique and unrivaled.”

“We’ve brought together all the products and services needed for our customers to decrease their DSOs, rein in claim denials, accelerate cash flows, and get control of their turnover and training issues,” Festa added. “In short, everything we do is focused on assisting our customers to successfully operate their businesses and generate cash.”

With offerings ranging from software to complete outsourcing, CareCentric’s impressive growth culminated in full outsourced billing services for the HME industry provided through its merger last fall with Alternative Billing Solutions, Inc. (ABS), whose services include denials, collections and accounts receivable management. With a team of more than 150 professionals, CareCentric bills, collects and processes more than $130 million annually, using the company’s own software. Its average client’s Day Sales Outstanding (DSO) stands below 55 days, approximately 30 days less than the industry average.

“The ABS acquisition has clearly assisted CareCentric in becoming the foremost provider of billing services,” said Festa. “Combined with our customers’ use of our software, CareCentric solutions collect upwards of $10 billion a year.”

CareCentric’s revenue has also grown by tens of millions of dollars by servicing customers’ needs for information technology outsourcing (ITO), business process outsourcing (BPO) services and consulting. ITO includes application hosting, operations monitoring, telecommunications management, backup and recovery, security and e-mail—all delivered from CareCentric’s highly secure, state-of-the-art national data center. BPO covers an array of back-office and administrative functions, as well as business intelligence and reporting, and financial compliance auditing. Operational and management consulting puts CareCentric’s team of knowledgeable professionals to work helping customers greatly improve their chances for business success through services such as operational assessments, dealing with commercial payers, HME/IV business startup and audit defense.

The company continues to support, enhance and build its industry-leading financial and clinical software—MestaMed®, DME VI, STAT2 and Ac-Cura®. New feature-rich versions of the Ac-Cura HME and Home Health software are being rolled out throughout the year. Developed on the Microsoft .NET platform, Ac-Cura is especially designed to serve the needs of providers in multiple lines of business through secure access over the Internet, and is available as either an in-house or hosted application.

Headquartered in Atlanta, CareCentric ® delivers technology, business operation and IT outsourcing solutions to providers serving the entire post-acute care continuum—home health, private duty, home medical equipment, home pharmacy, long-term care, assisted living and hospice. The company’s offerings include an array of business process, education and consulting services, along with its Microsoft ® .NET-based Ac-Cura ® software. By addressing its customers’ total management and operational needs, CareCentric allows them to focus on care delivery—enabling both business and clinical success.