JOHANNESBURG (02/06/2004) - Mastermed, a new entrant into the growing medical software industry, claims that it is set to create healthy waves in the market with a medical practice management software package.
Spearheading the Mastermed drive is former Softline Pastel (Pty) Ltd. MD, Terry Kier, who leads a team of industry specialists in the key areas of software development, technical writing and marketing.
To facilitate its market entry Mastermed acquired HAS Software, developer of Medad 2000, a Windows-based medical practice software application with a 14-year track record in South Africa (SA), and a loyal and well-established user base. The new release of Mastermed software was developed over three years, runs on an SQL platform, and has new graphical interfaces and features.
Kier says that thanks to the development expertise within the company, the new Mastermed software goes to market with a major differentiator: "It is the first medical practice management package to be tightly integrated with widely recognized accounting software, namely Pastel."
Kier adds that the Mastermed software will be available in three editions -- Single Practice (1-3 doctors); Multi Practice (4-7 doctors); and Clinic (8 or more doctors and also suitable for clinics).
"Mastermed is the only medical practice management product to be endorsed by Pastel, and we have a cooperative partnership that includes selling Mastermed country-wide through the well established Pastel channel.
Because of the seamless integration between the two products, the sales drives of both companies will be mutually beneficial. We also have long-established relationships with accountants, and the integration with Pastel will be a motivation for them to recommend Mastermed to their medical practice clients."
The company has negotiated agreements with industry providers for the disbursement of codes between medical practitioners, pharmacies and medical benefit administrators, and for the provision of ICT transaction services, including patient validations, claims submissions and electronic remittance advices.
Louis van Deventer, founder of HAS Software and the Medad product, and now a partner and shareholder in Mastermed, says the new Mastermed software streamlines processes for all participants in the medical practice and benefits industry, allowing them to maintain their focus without getting bogged down in detail.
"The software will include immediate updates of changes to service provider charge rates, medical benefit rates and clinical codes so that the entire process is always accurate and legal. The software is simple to use, and ensures quick returns for all concerned, through a claims submission and settlement process that is completely electronic and automatically updated in the accounts."
Softline Pastel CEO, Steven Cohen, says the medical practice software industry has in the past been reluctant to re-invest to update products with graphical interfaces and other new technologies, leaving a widening gap in the market.
"Mastermed, with its graphical interface, Windows base and seamless real time integration with Pastel, is going to fill this gap. The alliance between the two companies is ideal, resulting in a single solution for the market that pleases both medical practitioners and accountants.
We are very excited about the potential for piggybacking in this venture -- a sale for Mastermed can mean a sale for Pastel and vice versa. There are also thousands of doctors already using Pastel, which in itself opens up great opportunities."