Press Release: November 3, 2011

MediQuant, Inc. Honored as 2011 Weatherhead Recipient

Pioneering healthcare data solutions place company among Northeast Ohio’s fastest-growing businesses.

RICHFIELD, OH – The Weatherhead School of Management at Case Western Reserve University in partnership with the Council of Smaller Enterprises (COSE) have recognized Richfield, Ohio-based MediQuant Inc., pioneer of advanced data lifecycle software solutions for healthcare organizations, as a 2011 Weatherhead 100 company. The award is designated for the top 100 fastest-growing companies in Northeast Ohio that serve as a beacon of success to all businesses in the region.

Since its creation in 1987, the Weatherhead 100 award has continually honored the fastest-growing entrepreneurial ventures throughout Northeast Ohio. Qualified companies are evaluated based on a number of criteria including consistent growth over the last five years, as well as a commitment to hard work and innovation.

“Our team did this together—everyone—whether it was closing sales, implementing projects, developing our products, delivering stunning service, documenting our processes, running reports—all of it,” said Tony Paparella, a Northeast Ohio resident (Bath) and president and founder of MediQuant Inc. “It is a testament to our revenue cycle and IT experts that top hospitals and healthcare networks increasingly choose MediQuant to tailor data solutions to their organizations. We’re excited to join the Weatherhead 100 and anticipate continued strong growth in the years ahead. Congratulations again to all our team!”

MediQuant innovates smarter solutions for managing healthcare revenue cycles including tools for medical necessity/ABN compliance as well as legacy data administration. With DataArk, an innovative “active” archive for continued reporting and billing of old accounts, MediQuant has helped many healthcare providers eliminate legacy system support costs up to 80% by allowing the old health information system (HIS) to be retired.

About Mediquant

MediQuant develops advanced software solutions that reduce time, cut costs and increase revenue for a wide range of healthcare providers including large tertiary care facilities, community hospitals, Integrated Delivery Networks (IDN) and academic centers, among others. Extensive healthcare software development, past revenue cycle management, clinical services and data management expertise enables MediQuant to craft unique solutions to common problems encountered by chief financial and information officers, patient accounting and human resource directors as well as physician practice managers and clinicians.

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Press Release: June 2, 2010

Active Archive Helps Hospitals Decommission Legacy Systems

Access data in real-time; continue to bill accounts; reduce HIS conversion cost; retire old system.

RICHFIELD, OH— DataArk™ from MediQuant is an active archive that houses legacy clinical, financial, revenue cycle management and other health information system (HIS) data. Today, many hospitals and healthcare organizations are converting to new HIS or Enterprise Resource Planning (ERP) systems including:

DataArk enables real-time access to accounts receivable (A/R) and human resources (H/R) data as well as medical records from decommissioned systems. Many hospitals and healthcare organizations have saved up to 80% in support costs by eliminating their legacy system using DataArk. MediQuant’s patent-pending archive can manage legacy healthcare data from many older applications including:

DataArk allows hospitals and healthcare organizations to move to new Siemens, McKesson, Eclipsys, Epic and other HIS or ERP systems in a more timely, cost-efficient manner. Clients can host the DataArk archive on their server or in the MediQuant data center.

“Data is migrated—not converted—from the legacy system or from many different legacy systems into the DataArk archive in one turnkey approach. Users then access DataArk much like their legacy system, updating individual records as needed. Accounts can even be billed directly through the DataArk archive,” said Tony Paparella, president, MediQuant.

When hospitals and healthcare organizations implement a new HIS or ERP they typically retain their legacy system to maintain access to vital data and to bill accounts. Old HIS or ERP systems, however, are expensive to maintain.

“Hardware, software and internal resource support costs can range from hundreds of thousands to several million dollars annually. Also, support for the legacy system may be inadequate or become unavailable, increasing the risk of data loss. Conversely, retaining an old HIS or ERP system diverts resources away from the new Siemens, McKesson, Eclipsys, Epic or other system, impeding the growth desired by hospitals and healthcare organizations,” said Paparella.

After converting to a new Epic financials system, Cincinnati Children’s Hospital Medical Center needed to decommission its legacy system, archive the A/R and continue to bill accounts. North Hawaii Community Hospital needed to retire its legacy HIS quickly before support contract renewal came due. West Penn Allegheny Health System needed to consolidate legacy A/R databases from two hospitals into a single archive to ease data migration to its new Siemens system. MedCentral Health System, meanwhile, needed to decommission its legacy HIS in favor of a new Siemens Soarian Financials system yet access archive data exactly as it was stored.

Each of these healthcare organizations has since reduced costs by up to 80% while retaining access to, and management of, old A/R, H/R and medical records among other data sets. Each chose DataArk to decommission its legacy HIS or ERP system.

Visit www.mediquant.com to learn more about how hospitals and healthcare organizations are using the DataArk archive to reduce HIS and ERP conversion costs to new Siemens, McKesson, Eclipsys, Epic and other systems.

About MediQuant

MediQuant develops advanced software solutions that reduce time, cut costs and increase revenue for a wide range of hospitals and healthcare organizations. Extensive healthcare software development, past revenue cycle management, clinical services and data management expertise enables MediQuant to craft unique solutions.

Email us at: info@mediquant.com

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