ProVation Medical Named as Tekne Award Finalist

Company Announces 5 Million Procedure Notes created by users of its Multi-specialty Clinical Procedure Documentation and Coding Compliance Software

Minneapolis, MN – ProVation Medical, Inc. has been named as a finalist for a 2004 Tekne Award, Minnesota's premier awards program recognizing companies and individuals who have shown superior technology innovation and leadership. The Minnesota High Tech Association (MHTA) and Minnesota Technology, Inc. (MTI), in partnership with Medical Alley, MNBIO and Minnesota Project Innovation, join together to recognize technology innovators and leaders who have made lasting contributions to enhancing the quality of life and competitiveness of Minnesota. The awards are separated into categories that recognize the best and brightest in innovation, development, education, commercialization and management of technology in Minnesota.

“We are proud to honor ProVation Medical as a 2004 Tekne Award finalist and are pleased to recognize their leadership in this industry,” said Dr. Wayne Pletcher, president of Minnesota Technology, Inc.

“The Tekne Awards have become the premier awards program for technology innovators and leaders in the state of Minnesota,” said Mark Wagner, president and CEO, ProVation Medical, Inc. “The healthcare IT market in Minnesota is very strong, and it is an honor to be included among the other finalists in this category.”

The Tekne nomination comes just as ProVation reports the creation of more than 5 million procedure notes by users of its procedure documentation and coding compliance software. “The timing couldn't be more fitting for this honor,” continued Mr. Wagner. “As ProVation Medical celebrates its ten-year anniversary this November 1, we are also pleased to announce that more than 5 Million procedure notes have been created by the doctors and nurses who use our software each day.”

Since 1997, when first customer Massachusetts General Hospital implemented ProVation (then cMore Medical Solutions) software for Gastroenterology, the company's installed base has grown to 4,500 clinician users at more than 240 medical facilities nationwide, representing Gastroenterology, Pulmonology, Orthopedics, Urology, Pain Management and Cardiology specialties. Over 58 full-time MD years have been invested in the medical content of its ProVation MD and RN software.

About ProVation Medical, Inc.
ProVation® MD software for multi-specialty procedure documentation and coding compliance replaces the inefficient dictation/transcription approach and streamlines the coding and billing process. Driven by deep medical content, ProVation MD allows clinicians to quickly and completely document medical procedures and apply the appropriate CPT and ICD codes, as well as CCI edits.

ProVation Medical, Inc. (Minneapolis, MN), a leading healthcare software and services company, provides solutions that significantly enhance revenue and decrease costs per medical procedure. Hospitals and Ambulatory Surgery Centers that use ProVation Medical software (1) improve their coding accuracy resulting in a 5-25 percent improvement in reimbursement for their medical procedures, (2) eliminate transcription costs, and (3) consolidate and simplify all the major financial, clinical and administrative tasks that accompany each procedure. ProVation MD/RN software replaces inefficient dictation/transcription processes, producing complete, billing-ready, image- and diagram-enhanced documentation for multi-specialty clinical procedures. Through an innovative "Anticipatory Interface®", the software links deep medical content designed by ProVation's in-house 12-member physician and coding staff to compliant CPT/ICD/CCI-edit reimbursement codes, producing a comprehensive operative note. The result is coder-ready documentation delivering compliance, proper reimbursement, and shortened days in Accounts Receivable with an ROI ranging from 25-200% and payback within 12-20 months.

About MTI
Minnesota Technology, Inc. (MTI) is a nonprofit, 501(c)3 organization whose mission is to help its business customers gain competitive advantages, support their growth, and contribute to Minnesota's economic vitality. It fulfills this work through a statewide staff of expert professionals who have tested expertise across a wide variety of business, technology, manufacturing, engineering, publishing and research disciplines. In the last three years, MTI has helped nearly 2,000 Minnesota companies and made a significant economic impact. It helped create and retain over 2,500 jobs, saved its clients more than $70 million, and helped generate $80 million in new technology investments. For more information visit www.minnesotatechnology.org.

About MHTA

The Minnesota High Tech Association accelerates the growth, success and sustainability of Minnesota's technology-based economy through public policy advocacy, member collaboration and education, and community outreach. MHTA is the only membership organization that represents Minnesota's entire technology-based economy. MHTA members include organizations of every size - involved in virtually every aspect of technology creation, production, application and education in Minnesota. MHTA works in partnership with AeA, which represents Minnesota's technology organizations nationally. More information on the MHTA can be found at www.mhta.org.

For more information contact:
Laura Gilbert
ProVation® Medical, Inc.
612.313.1506
laura.gilbert@provationmedical.com