Dynamic Healthcare Systems Announces Series A Financing
Irvine-based provider of technology solutions for Medicare-focused health plans and businesses completes Series A Financing from Knott Partners and Van Dam Family Partnerships.
IRVINE, Calif. (PRWEB) January 9, 2007
Dynamic Healthcare Systems, a provider of innovative solutions for Medicare-focused MSO's and health plans, today announced that it has completed a Series A round of financing of nearly $4.0 million. Various angel investors, including principals of Knott Partners and Van Dam Family Partnerships, funded the financing as a Series A preferred stock transaction. Proceeds will enable Dynamic to accelerate sales growth and rapidly deploy its technology solutions and services, enhance customer service and expand its product offerings.
"We are pleased with the results of our Series A financing. This round of investment provides Dynamic the financing to grow and hire key talent to widen the scope of our technology solutions and facilitate the successful implementation of our technology among our increasing list of customers," said Brooks Corbin, Chief Financial Officer of Dynamic Healthcare Systems. "With continuing challenges to regulatory compliance, Dynamic's Voyager Software Suite allows health plans and managed care organizations to achieve process improvement and new analysis in an increasingly time critical manner to maximize revenue and limit cost."
The Dynamic Healthcare Systems' Voyager Software Suite of Revenue Reconciliation, HCC Analysis and RAPS Management modules automate and streamline the internal processes of the health plan or managed care organization. Its Enrollment Module provides multi-form election validation, workflow tracking and inventory management, with direct CMS transaction submission and rejection processing. Voyager's HCC Analytics module applies proprietary algorithms to qualified encounter data and unqualified secondary sources like, lab results, DME, and prescription encounters, to uncover suspected gaps in ICD-9 code reporting. Plans and MSOs use Dynamic's work queues, detailed patient profiles and sophisticated report libraries to verify the suspects in medical records, document the actual outcomes and submit them to CMS.
As part of the financing, Dick Morrison, a Northern California Angel Investor, and Arlon Enmeier of the Van Dam Family Partnerships will join Dynamic's board of directors. "We are impressed with Dynamic's core technologies and products," said Dick Morrison. "Dynamic's prospects for the future are great. The combination of their technology, seasoned team, entrepreneurial zeal and vision positions them well to make a significant impact on the market."
"We are excited to be a part of a company with a technology solution that helps health plans and Medicare Advantage businesses to capitalize on opportunities for increased revenue and avoid costly compliance challenges associated with the Medicare Modernization Act of 2003," said Arlon Enmeier of the Van Dam Family Partnerships. "We look forward to working with its seasoned management and technical team in an effort to maximize the potential for its current and future technology solutions."
About Dynamic Healthcare Systems
Dynamic Healthcare Systems, Inc. delivers comprehensive solutions for health plans and MSOs striving to succeed amid new and evolving regulatory requirements. Headquartered in Irvine, California, the company brings world-class innovations to companies serving the Medicare population. Dynamic Healthcare Systems can be reached at (949) 975-1877. www. dynamichealthsys. com.
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