EPN - Electronic Prescribing News

ProxyMed (Nasdaq:PILL) today announced that its wholly-owned subsidiary, PlanVista Solutions, has entered into an agreement with Gilsbar, Inc. to provide network access and claims repricing services for certain Gilsbar clients. The services commenced on August 2 and are expected to generate significant revenue in 2004 and beyond. The contract is subject to standard renewal and termination rights.

This agreement enables Covington, Louisiana-based Gilsbar, a leading third party administrator that serves approximately 250,000 individual lives throughout the United States, to utilize PlanVista's network access and bill negotiation products with respect to its employer-sponsored and "administration services only" business. Gilsbar, recognized in the industry for its advanced technological systems and quality of service, has seen its client base, breadth of insurance services, and geographic reach expand during the past five years. Today, Gilsbar provides its administrative services to a variety of associations, health insurance carriers, insurance brokers, and businesses with fully insured and self-insured plans.

"In PlanVista, we have engaged a leading-edge firm with impressive cost management products and exceptional technology. We are excited about this new relationship, which will clearly create savings on our medical claims costs," said Henry Miltenberger, Jr., Gilsbar's President and Chief Executive Officer.

"We are extremely pleased to be able to announce this new customer relationship," said Jeff Markle, Senior Vice President of ProxyMed and President of PlanVista. "Gilsbar has an established reputation for serving sophisticated clients and providing a high level of service, integrated technological solutions, and a commitment to excellence. We are honored to be Gilsbar's chosen cost containment solution."

About ProxyMed, Inc.

ProxyMed is the nation's second largest provider-based electronic healthcare transaction services company. We provide connectivity services and related value-added products to physicians, payers, pharmacies, medical laboratories, and other healthcare providers and suppliers. ProxyMed's services support a broad range of both financial and clinical transactions, and we are HIPAA-certified through Claredi. To facilitate these services, we operate Phoenix(TM), our secure national electronic information platform, which provides physicians and other primary care providers with direct connectivity to one of the industry's largest list of payers, the largest list of chain and independent pharmacies and the largest list of clinical laboratories.

Through our recently-acquired PlanVista Solutions, Inc. subsidiary, we are a leading provider of medical cost containment services and business process outsourcing solutions for the medical insurance and managed care industries. We provide integrated national Preferred Provider Organization network access, electronic claims repricing, and claims and data management services to health care payers, such as self-insured employers, medical insurance carriers, third party administrators, health maintenance organizations, and other entities that pay claims on behalf of health plans. We also provide network and data management services to health care providers, such as individual providers and provider networks.

For more information about ProxyMed, please visit the company's Web site at www.proxymed.com.

For more information about ProxyMed's PlanVista medical cost containment division, visit the Web site www.planvista.com.

About Gilsbar

Founded in 1959, Gilsbar, Inc. is a leading provider of comprehensive insurance services. Gilsbar serves employers, affinity groups, insurance companies and individuals. Gilsbar has the unique ability to meet the needs of the individual client, providing customized self-insured plan design, fully-insured options for association health, life and disability, as well as professional liability protection. Currently managing over 250,000 individual lives, Gilsbar distinguishes itself through integrity, responsive service, integrated technological solutions and unwavering commitment to client satisfaction.

For more information about Gilsbar, please visit the company's Web site at www.gilsbar.com.

Forward-Looking Statement

ProxyMed cautions that forward-looking statements contained in this document are based on current plans and expectations, and that a number of factors could cause the actual results to differ materially from the guidance given at this time. Some of these factors are described in the Safe Harbor statement below.

Except for the historical information contained herein, the matters discussed in this document may constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected. These statements include those concerning the length of the arrangement with Gilsbar, the amount of future revenue to be generated from the arrangement with Gilsbar, the potential benefits and effects, including but not limited to any expectations as to profitability, revenue growth, projected EBITDA, and other aspects of the financial performance of the combined company. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. While these statements reflect our current judgment, they are subject to risks and uncertainties. Actual results may differ significantly from projected results due to a number of factors, including

Gilsbar's right to terminate the Agreement upon 90 days' notice, in accordance with PlanVista's standard termination provision, the soundness of our business strategies relative to the perceived market opportunities; ProxyMed's ability to continue to integrate the operations of PlanVista into its existing operations, the ability to identify suitable future acquisition candidates; the ability to successfully integrate any future acquisitions; ProxyMed's ability to successfully develop, market, sell, cross-sell, install and upgrade its clinical and financial transaction services and applications to current and new physicians, payers, medical laboratories and pharmacies; the ability to compete effectively on price and support services; ProxyMed's assessment of the healthcare industry's need, desire and ability to become technology efficient; and ProxyMed's ability and that of its business associates to comply with various government rules regarding healthcare and patient privacy. For further cautions about the risks of investing in ProxyMed, we refer you to the documents each company files from time to time with the Securities and Exchange Commission, particularly the Company's Form 10-K for the year ended December 31, 2003, and ProxyMed's registration statement on Form S-4 relating to the merger with PlanVista.

In this regard, investors are cautioned that the Company will be subject to numerous risks and uncertainties, including, but not limited to, the risks inherent in acquisitions of technologies and businesses, including the integration of separate workforces, the timing and successful completion of technology and product development through production readiness, integration of such technologies and businesses into the combined company, unanticipated expenditures, changing relationships with customers, suppliers and strategic partners, and other factors.

ProxyMed does not assume any obligation to update information contained in this document, including for example guidance regarding future performance, which represents the companies' expectations only as of the date of this release and should not be viewed as a statement about the Company's expectations after such date. Although this release may remain available on the Company's website or elsewhere, its continued availability does not indicate that the Company is reaffirming or confirming any of the information contained herein.