NEW YORK, Aug. 22, 2013 (GLOBE NEWSWIRE) -- CodeSmart Holdings, Inc. (OTCQB:ITEN), with its subsidiary, The CODESMART TM Group, Inc. (collectively, "CODESMART"), a premier ICD-10 education and solutions group that offers CODESMART TM UNIVERSITY, its on-line education solution and customizable training solutions, announces today that it has licensed Millennium HealthCare, Inc. (OTCPINK:MHCC) to serve as a marketing partner of its ICD-10 consulting and education programs, including CODESMART TM UNIVERSITY, to physicians, physician practices and hospitals.
"Millennium works with an extensive number of individual physicians, physician practice groups and hospitals," says Ira Shapiro, CEO of CODESMART™. "Partnering with Millennium is a logical next step to ensure that our ICD-10 training services reach as many practitioners as possible."
"One of the biggest challenges healthcare practices face today is the potential loss of revenue that comes with not being ICD-10 compliant by the October 2014 deadline. The CODESMART TM Group has developed a best practices approach to training current coders in ICD-10 that is unparalleled in the industry," said Chris Amandola, president of Millennium HealthCare, Inc. "We look forward to demonstrating the value of their methodology to the market, and helping as many practices as possible to become ICD-10 compliant."
About ICD-10
ICD-10, or the tenth revision of the International Classification of Diseases is a World Health Organization-approved designation of the aspects of disease treatment that include categories of diseases and treatment modalities for them, broken down into more than 141,000 designations. The previous ICD had only 17,000 codes, diagnoses and procedures. The United States is among the last countries in the world to adopt these standards, but the Department of Health and Human Services has mandated that all medical practices, hospitals and other medical record keeping organization be trained and ICD-10 compliant by October 1, 2014. This is essential as the Center for Medicare and Medicaid services will also be adopting the ICD-10 standard and will require proper medical coding in order to provide reimbursement.
About CodeSmart™
CodeSmart Holdings, Inc. (OTCQB:ITEN) with its subsidiary, The CODESMART™ Group, Inc., is a premier national subject matter expert for ICD-10 education and compliance in the United States. Its product, CODESMART™ UNIVERSITY, is an on-line program of study for existing coders, new coders, clinicians, and healthcare roles of all types. Created by a combination of a leading panel of ICD-10 subject matter experts and a major four-year accredited university, which contributed the nation's top course designers and a platform that already provides interactive education to more than 60,000 students per year in degree programs. The ICD-10 training also includes live professors who work with and guide students through the programs of study in ICD-10.
CODESMART™ UNIVERSITY is endorsed by over 60 colleges and universities nationwide for its quality of education. The CODESMART™ Group, Inc. also provides solutions for ICD-10 transition, outsource coding, coding audits, critical documentation improvement and the revenue cycle continuum.
To learn more about CODESMART™ UNIVERSITY's proprietary programs, visit www.codesmartgroup.com or www.codesmartuniversity.org .
About Millennium HealthCare, Inc.
Millennium HealthCare Inc. (OTCPINK:MHCC), through its wholly owned operating subsidiaries, provides effective purchase, supply and distribution of revolutionary medical equipment and devices, as well as innovative and effective medical practice support and services, strategically assisting primary care physicians and cardiovascular specialists develop, grow and manage their medical practices.
Millennium's medical equipment and device group focuses on strategic alliances and partnerships with medical device companies that provide innovative and revolutionary medical devices that utilize cutting edge technology, are FDA approved and are focused on preventative and diagnostic testing and care with the anticipation of detecting potential medical issues in their early stages.
The Company's practice support and administration services group offers physician practice development, support and administration services for physician facilities and practices with a focus on vascular disorders and provides a comprehensive suite of administration services and support, including high quality, advanced medical procedure coding and medical procedure billing and collections as well as call processing, message management and emergency dispatch services.
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Certain written and oral statements made by both companies may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that either expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause actual results to differ materially from anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. Both companies undertake no obligation to update these forward-looking statements after the date of this release.
Company Contact: Ira Shapiro Chairman and CEO The Codesmart Group, Inc. 646-526-7867 Investor Contact: John Baldissera BPC Financial Marketing 800-368-1217 Media Contact: Jules Abraham JQA Partners, LLC 917-885-7378 Millennium Company Contact: Millennium Investor Relations 516-628-5500
