ORLANDO, Fla., Oct 08, 2008 (BUSINESS WIRE) -- CollaborateMD, a leading provider of Internet practice management and medical billing software for the healthcare industry, attributes 3rd quarter growth to their cost-effective hybrid Software as a Service (SaaS) model, which combines the convenience and flexibility characteristic of most browser-based applications with the speed and power found in many locally run Windows-based programs.

The Company--being one of only two medical billing software solutions available today that utilizes this hybrid model--continues to lead the forefront in SaaS or SaaS-like applications for speed and flexibility. The recent surge in demand for the award-winning software, however, is more likely attributable to its affordability. Specifically, the pay-as-you-go pricing model and wide variety of complimentary features with minimal up-front and monthly fees has attracted a great deal of attention from medical practices and billing services trying to save money given the recent economic instability.

 

"Now, more than ever, medical organizations are benefiting greatly from our pricing model which allows them to reduce capital expenditures while still reaping the rewards of an on-demand solution," stated Douglas Kegler, CollaborateMD president and CEO. "We will continue to serve as an oasis for medical organizations in this tight credit market because we offer a low implementation fee [about $899] and monthly pay-as-you-go plans [starting as low as $149 per provider] versus typical software/license models provided by non-SaaS competitors."
 

The acceptance of the CollaborateMD system can be realized by the fact that they have processed over a billion dollars in insurance claims in the first three quarters of 2008 versus a billion dollars in claims in all of 2007.

For a closer look at how the hybrid SaaS model results in faster payment cycles and increased office efficiency at significantly lower costs, download the CollaborateMD hybrid SaaS white paper at http://www.CollaborateMD.com/SaaS_whitepaper.pdf.

About CollaborateMD

Headquartered in Orlando, FL, CollaborateMD has been helping billing services and medical practices save time and money since 1999. CollaborateMD offers the health care industry a HIPAA-compliant, Internet practice management, and electronic medical billing software and Revenue Cycle Management application with the speed of a local PC application and the "use anywhere" flexibility of a Web browser application. CollaborateMD is a 100% Java application utilizing Sun Microsystems Java Platform and offers physician offices and medical billing services the opportunity to become more efficient and flexible.

For more information, visit www.CollaborateMD.com or call 888-348-8457.

SOURCE: CollaborateMD