TORONTO, ON and WATERLOO, ON–(Marketwired – May 24, 2016) – NexgenRx Inc. (“NexgenRx” or the “Corporation”) (TSX VENTURE:NXG) and Equitable Life of Canada® (“Equitable Life”) are pleased to announce their agreement wherein NexgenRx will provide Equitable Life’s plan members with a convenient new option for submitting paramedical and vision care claims in real time.
With this new technology, paramedical practitioners, such as massage therapists, chiropractors, and vision care providers can submit claims in real time from their office using theclaimsXchange® provider portal. Equitable Life will process eligible claims immediately and pay the practitioner directly.
“Plan members will know how much is covered by their plan before they leave their health care provider’s office,” says Norma Crouse, Assistant Vice-President, Claims and Administration at Equitable Life. “And they will only need to pay their practitioner for any amounts not covered by the plan, such as deductibles or co-insurance.”
A number of practitioners can submit claims to Equitable Life with theclaimsXchange® provider portal, including: acupuncturists, athletic therapists, chiropractors, kinesiologists, massage therapists, osteopaths, physiotherapists, chiropodists and podiatrists, psychologists, speech therapists, social workers, optometrists and other vision care providers.
“We are delighted to add Equitable Life to our growing list of carriers who have chosen NexgenRx technology theclaimsXchange® to provide their plan members with this convenient service,” said Ronald C. Loucks, President and CEO of NexgenRx. “In addition to making things easier for plan members, it is also designed to help health care providers manage their practices and their relationships with their patients. All they need to register is their practitioner details, including their license number and banking information.”
To date, over 3,300 health care providers across Canada have signed up for theclaimsXchange.com® provider portal.
About Equitable Life of Canada
Canadians have turned to Equitable Life since 1920 to protect what matters most. Equitable Life works with independent advisors across Canada to offer individual insurance, savings and retirement and group benefits solutions to meet its policyholders’ needs.
But Equitable Life is not your typical financial services company. Equitable Life has the knowledge, experience and ability to find solutions that work for its policyholders. And Equitable Life is owned by its participating policyholders, not shareholders. So Equitable Life can focus on its policyholders’ interests and providing its policyholders with personalized service, security and wellbeing.
About NexgenRx
NexgenRx, a healthcare technology solutions company established in 2003, provides an alternative to traditional providers of drug, dental and extended health care benefits. We enable plan sponsors to better control costs and improve health outcomes for employees and their families by using leading edge communications and claims processing technology. For more information, see www.nexgenrx.com.
Caution Regarding Forward-Looking Statements – This news release contains certain forward looking statements, including statements regarding the business and anticipated financial performance of the Corporation. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements.
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.”
Ronald C. Loucks
President and CEO
416.695.3393 x801
NexgenRx Inc.
Taba Merrikh
Director of Finance
416.695.3393 x803
www.nexgenrx.com