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Health Revenue Assurance Holdings, Inc. Reports Financial Results For The Third Quarter And First Nine Months Of 2013

Stocks in this article: HRAA

Plantation, FL, Nov. 14, 2013 (GLOBE NEWSWIRE) -- Health Revenue Assurance Holdings, Inc. (OTCBB: HRAA), the leading provider of revenue integrity solutions for healthcare organizations, announced its financial results for the third quarter and first nine months ended September 30, 2013.

Third Quarter and First Nine Months of 2013 Highlights:

  • Total revenues for the first nine months of 2013 were $6,075,437, an increase of 67.9% as compared to $3,619,611 for the prior year's first nine months; HRAA was selected to provide an ICD-10 Curriculum to and manage an Internship program for the Latter-Day Saints Business College Medical Coding Certificate Program;
  • HRAA's ICD Visualizer TM Business Intelligence Solution was selected by Otsego Memorial Hospital to support ICD-10 transition;
  • HRAA was chosen to perform ICD-10 Transition Services for Kirby Medical Center;
  • Company was selected to provide ICD-10 Educational Services to Marshall Browning Hospital;
  • Chairman and CEO Andrea Clark named one of top 10 CEOs in Broward County by South Florida Business Journal's 2013 Broward Ultimate CEO Awards.

Andrea Clark, HRAA's Chairman, CEO and Founder stated, "We continue to see great demand for our coding and education services as well as our technology platforms by health care organizations that include Otsego Memorial Hospital, Kirby Medical Center and Marshall Browning Hospital. Educational institutions are seeking out our services to help revamp their coding curriculum, as coders will need to be fully prepared to work under ICD-10 in less than a year. Also, we recently received a strategic investment of $5.4 million from Great Point Partners that will help us to fuel the expansion of our Medical Coding and ICD-10 Transition Solutions. Great Point's recent capital infusion is validation of our business model and product suite and we look forward to utilizing their vast knowledge, experience and deep industry relationships."  

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