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Orlando, Fl - August 12, 2003 - XGear Technologies, a leading provider of Internet-based ASP practice management and medical billing software for the healthcare industry, announced today that it had achieved its goal of 500,000 transactions. This milestone highlights the enormous growth the company has experienced recently, more than doubling its transaction volume in less than 7 months.

The company credits its tremendous expansion in part to the medical industry's growing need for robust software with multiple functionalities, as well as its concern over meeting new HIPAA regulations. Among other features, XGear Technologies' program ClaimGear uses numerous security measures to protect all of the data storage and transmissions.

"The privacy of our clients' data is crucial to us," explained Douglas Kegler, President and CEO of XGear Technologies. "We strictly adhere to the security standards mandated by HIPAA when it comes to protecting data."

Unlike most practice management software solutions, XGear Technologies does not charge additional fees for HIPAA-compliancy in its ClaimGear software; technological and administrative security features are a standard feature.

"Many clients have had to make significant and costly changes to their practice's policies and procedures in order to meet the HIPAA mandates. We made ClaimGear upgrades free and easy-to-use in order to take some of the burden off of them and help them meet HIPAA guidelines," said Kegler. More information regarding the company's confidentiality policy can be found on its Web site, www.claimgear.com.

About XGear Technologies
Headquartered in Orlando, FL, XGear Technologies provides the healthcare industry with an Internet-based Medical Billing and Practice Management Software program, ClaimGear, which has the speed of a local PC application and the "use anywhere" flexibility of a Web browser application. Through the Internet and its Java-based system, which utilizes Sun Microsystems Inc.'s (Nasdaq:SUNW) Java technology, ClaimGear is giving physician offices and billing services the opportunity to become more efficient and flexible. For more information, visit: http://www.claimgear.com.

Note to Editors: ClaimGear is a trademark of XGear Technology in the United States. Java is a trademark of Sun Microsystems Inc. in the United States and other countries.

For more information, please contact us at: 888-348-4309

Note: As of Apr 26, 2007 ClaimGear has changed to CollaborateMD.


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