HCPRO ACQUIRES MEDICAL CODING EDUCATION PRODUCTS

Press Releases, February 22, 2005

MARBLEHEAD, MA - FEB. 22, 2005 - HCPro, Inc., announced today its second acquisition of 2005, and its sixth in last past 12 months, with the purchase of the medical coding education products of consulting firm HP3, Inc.

 

The deal brings to HCPro a coding e-mail newsletter, E-Coding News, a Web site, www.justcoding.com, the "Coding Lunch and Learn" library of training programs, and a library of coding online learning courses.

 

The founders of the Bethlehem, PA-based HP3, Ruthann Russo, JD, MPH, RHIT, and Joseph J. Russo, Esq., sold HP3's coding product lines in order to concentrate on HP3's successful consulting practice. "HP3 is delighted that our long relationship with HCPro has resulted in the sale of value-added coding product offerings. This transaction will enable HP3 to focus on its rapidly expanding healthcare consulting practice, which provides clinical documentation, coding, and data solutions for improved reimbursement, compliance, and patient care," stated Ruthann Ruthann Russo, JD, MPH, RHIT, the CEO of HP3.

 

"We have known and worked with the Russos for nearly a decade," said HCPro President/CEO Bruce Guzowski. "We are delighted to carry on the traditions of the Russos in providing outstanding information to coders."

 

The HP3 products will be added to HCPro's growing library of education and training materials for coders in hospitals, physician practices, and other healthcare organizations. "Coding is one of our key areas of growth because it plays such a large role in ensuring accurate billing and reimbursement for our customers and in the care of patients," said Guzowski. Medical coding is used to convey information about diagnoses and procedures for payment and public health purposes.

 

E-Coding News, the free email newsletter, is available at the following link: http://www.justcoding.com/view.php?topic=newsletter&page=subscribe

 

Terms of the transaction were not disclosed.