New Module for Leading Data Capture Solution Speeds Data Entry by 75 Percent and Increases Accuracy by 30 Percent in Medical Claims Processing Applications

FREMONT, CA -- (MARKET WIRE) -- October 10, 2006 -- ABBYY, a world leader in the development of document recognition, data capture and linguistic technologies, today announced North America availability of ClaimAction™ 2.0 for FormReader, an add-on module for ABBYY's well-known data capture solution. The module, developed as a joint effort between ABBYY and its certified VAR Artsyl Technologies, combines with ABBYY FormReader to create a comprehensive solution designed to extract data from the popularly used HCFA 1500 and UB 92 paper-based medical claims forms. The out-of-the-box solution allows healthcare payers and claims processing service bureaus to process medical insurance claims quickly and efficiently.

"Insurance companies and physician management service providers are being flooded with paper-based medical insurance forms, and their ability to service their patients effectively depends on their ability to process these HCFA 1500 and UB 92 forms accurately and quickly," said Dean Tang, president and CEO of ABBYY USA. "Today, too many medical offices and their service providers are throwing time and money at the problem by manually entering this type of data. ClaimAction automates the entry of critical patient data to both speed the process and improve accuracy."

The module offers greatly enhanced speed and accuracy compared to conventional fix-template forms processing solutions and manual entry. Accuracy is increased by as much as 30 percent over fixed-template forms processing, while entry-time is reduced by 75 percent compared to manual double-key data entry.

Using ClaimAction, medical offices and service providers avoid the onerous process of creating detailed templates for the claims they receive, and can get up and running quickly using their existing scanner and hardware. ClaimAction 2.0 leverages ABBYY's leading-edge FlexiCapture technology to do full extraction of data from color, black and white and dropout forms. The solution is tuned to provide forms accurately regardless of form type or resolution.

Results can be readily exported to any flat file or database via ODBC (including DBF, XLE, CSV, TXT, or XMA) for quick integration into practice-management software solutions or to be saved as an electronic health record (EHR) for patient use. Scanned forms may be saved as an image or a PDF, depending on user preference.

ClaimAction 2.0 uses a dynamic template approach that, combined with the proven ABBYY FormReader forms processing platform, empowers service providers to streamline their business model to save money while increasing service levels for medical industry clients.

Specifications, Availability and Pricing

ClaimAction 2.0 is available now in North America through ABBYY USA's value-added reseller network. Pricing for the add-on module starts at $7,500.00. Detailed information on licensing models and pricing, as well as other technical information about ClaimAction or FormReader, are available from ABBYY USA. For additional product and sales information, please visit www.ABBYY.com.

About ABBYY

ABBYY develops linguistic and artificial intelligence (AI) software providing a full line of document recognition, conversion and data capture technologies and products. ABBYY's products include: FineReader OCR systems -- a family of end-user programs and development tools for recognition of printed text, tables and forms; FormReader™ -- a forms processing solution; and ABBYY FlexiCapture™ Studio -- a software tool that helps to extract data from semi-structured forms and documents. Companies that license ABBYY recognition technologies include industry leaders such as EMC, EPSON, Fujitsu, Hewlett-Packard, Kofax, Panasonic, ReadSoft, Samsung Electronics, Siemens Nixdorf, Stellent, Tis, and Toshiba.

About Artsyl Technologies

Artsyl Technologies, Inc. specializes in data capture solutions for enterprises and business process outsourcing organizations. Artsyl's offering includes consulting services, software development, and boxed products that establish an end-to-end data capture system. Artsyl's focus is on quality, and partners only with the leading technology providers in the industry. Artsyl developed applications include Artsyl Transaction Parser, and Artsyl ClaimAction module for FormReader. For more information, visit the company's Web site at www.artsyltech.com.

ABBYY, ABBYY Logo, FineReader, FormReader, FlexiCapture are either registered trademarks or trademarks of ABBYY Software Ltd. Artsyl and Artsyl ClaimAction are a trademark of Artsyl Technologies, Inc. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective owners and are hereby recognized.

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Contacts:
Tsailing Merrem
ABBYY USA
1 (510) 226-6717
Email Contact

Rachel Modena Barasch
Modena Barasch Communications
650/325-7547
Email Contact

SOURCE:  ABBYY USA

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