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South Carolina Department of Health and Human Services Signs Memorandum of Understanding with Authentidate Holding Corp.
Parties Seek to Improve Efficiency and Reduce Cost of Administering Medicaid Services
SCHENECTADY, N.Y.
October 11, 2005
Authentidate Holding Corp. (Nasdaq: ADAT) today announced that the South Carolina Department of Health and Human Services (DHHS) has signed a Memorandum of Understanding to "accept and honor" the use of the United States Postal Service(R) Electronic Postmark(R) Service in electronic correspondence from healthcare providers who participate in the South Carolina Medicaid program.
At the same time, the company also said that the South Carolina DHHS is pursuing several web-based processing solution standards, such as provided by Authentidate's CareCert(TM), a HIPAA-compliant solution that currently enables providers of Home Medical Equipment to process Certificates of Medical Necessity (CMNs) and Physician Orders on-line.
This action, effective May 11, 2005, allows the state to continue to pursue efforts to improve efficiency and reduce the cost of administering Medicaid services.
"Incorporating trusted third-party authentication and non-repudiation services into solutions offers improved auditability and efficient authorization of Medicaid service requests, whether via traditional methods such as fax, or via electronic means such as digital documents, web-based forms and email," said Suren Pai, President and CEO of Authentidate Holding Corp. "It is an initiative that Authentidate is well positioned to support in South Carolina, and we hope this initiative will become an example for other states to follow."
Authentidate will also engage with other suitable parties in South Carolina, including providers and professional associations, to pursue digital processing of important paper-intensive elements of Medicaid and Medicare service requests, such as Prior Approvals, CMNs, Written Orders and the like. No assurances can be given at this time, however, that the South Carolina DHHS or other agencies in the state will adopt Authentidate's solutions.
About Authentidate Holding Corp.
Authentidate Holding Corp. (AHC) is the holding company which operates its software and services businesses in three segments: the Security Software Solutions Segment (fka Authentidate Segment, including Authentidate, Inc., Trac Medical Solutions, Inc. and Authentidate International AG), the Document Management Solutions Segment (fka Docstar Division) and the Systems Integration Segment (fka DJS). The Company is a worldwide provider of secure enterprise workflow management solutions that incorporate its proprietary and patent pending content authentication technology. Authentidate's offerings include the United States Postal Service(R) Electronic Postmark(R) Service (USPS(R) EPM(R)), electronic signing solutions, and electronic forms processing solutions. Authentidate also provides secure document management solutions, and enterprise network security products and services.
Additional information about Authentidate and the USPS EPM is available at www.Authentidate.com , http://www.tracmed.com/ , and http://www.uspsepm.com
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Act of 1934. When used in this release, the words "believe," "anticipate," "think," "intend," "plan," "will be," "expect," and similar expressions identify such forward-looking statements. Such statements regarding future events and/or the future financial performance of The Company are subject to certain risks and uncertainties, which could cause actual events or the actual future results of the Company to differ materially from any forward-looking statement. Such risks and uncertainties include, among other things, the availability of any needed financing, the Company's ability to implement its business plan for various applications of its technologies, related decisions by the USPS, the impact of competition, the management of growth, and the other risks and uncertainties that may be detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. In light of the significant risks and uncertainties inherent in the forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.
SOURCE: Authentidate Holding Corp
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