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MED ADVANTAGE RENEWS AGREEMENT WITH MANAGED HEALTH NETWORKS, INC.
Orlando, FL, July 30, 1996 - Med Advantage announced today that it has re-contracted
with Managed Health Networks, Inc., formally known as Foundation Health PsychCare
Services, Inc. located in San Rafael, CA. Med Advantage was selected as the credentialing
outsourcing vendor for the plans operating under the HMO and CHAMPUS business lines.
"We are extremely pleased to be associated with the Managed Health Networks,
Inc." said John C. Barrett, Vice President of Med Advantage. Dr. Jonathan M
Wormhoudt, Executive Vice President of Operations for Managed Health Networks, Inc.
says "Med Advantage will assist us in reaching accreditation with the National
Committee for Quality Assurance (NCQA) by simplifying the credentialing process.
Med Advantage will receive all of the credentialing data in both paper and electronic
form, perform the credentialing functions and return a hard copy and a data transfer
to us".
Managed Health Networks, Inc. is a full-service behavioral health organization and
subsidiary of Foundation Health Corporation located in Rancho Cordova, CA. Foundation
Health Corp. is a multi-state managed care organization. Through its HMO, insured
PPO and government contracts subsidiaries, the company provides group, individual,
Medicare, Medicaid and CHAMPUS coverage for more than 3 million individuals.
Med Advantage is considered to be one of the largest Credentialing Verification
Organizations (CVO) in the country. Med Advantage is part of the initial group of
CVO’s who are currently in the Certification process from NCQA and should receive
notification in September of this year. The database which Med Advantage has compiled
currently holds over 700,000 providers and has over 4.3 million elements verified
according to both NCQA and The Joint Commission on Accreditation of Healthcare Organizations
(JCAHO).
CONTACT: John C. Barrett of Med Advantage , 407-282-5131
CO: Medical Advantage, Inc., d/b/a Med Advantage ST: FL
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