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Media Contact: Jennifer Vansant at 858-200-9213 or jvansant@csifinancial.com
CSI Financial Earns SAS 70 Certification for Second Time Third-Party Assurances Help Customers Meet Regulatory Requirements San Diego, California, June 23, 2006 -- CSI Financial Services, (www.csifinancial.com), a national leader in automated patient financing solutions and management of self-pay accounts for hospitals throughout the United States, announced that it has received the Statement of Auditing Standards No. 70 (SAS 70) Type I certification for a second consecutive time. The SAS 70 Audit provides industry-standard assurances to CSIs hospitals and banking partners. The SAS 70 Type I certification is awarded only after demonstrating effective operating controls and processes as well as appropriate redundancy and security. Issued under guidance established by the American Institute of Certified Public Accountants (AICPA), SAS 70 assurance means that the CSI infrastructure, processes and controls for handling customer, corporate and financial information have passed rigorous, third-party testing and have been independently validated. "Data security and integrity are critical to our operations," says Mitch Patridge, CEO of CSI Financial Services. "It is imperative that we are able to provide our clients and banking partners with credible proof that our firm has the appropriate measures in place to provide a stable and secure environment that can safely manage and exchange customer data. A SAS 70 audit helps to establish that proof. With completion of our SAS 70 audit, CSI customers can be assured that our services are consistent, secure and reliable. CSI will continue to pursue SAS 70 audits in the future to ensure that our offerings exceed customer needs while allowing for safe and secure exchange of critical data." To obtain similar assurance without an SAS 70 examination, customers would have to send their own auditors to a service provider to conduct individual reviews. CSIs SAS 70 certification helps customers eliminate the need for individual auditing. Patridge adds: "In a highly competitive market, CSI demonstrates its dedication to the individual needs of our hospital and bank customers by offering services backed by reliable third-party assurances." Based in San Diego, California, CSI Financial Services has more than 13 years of experience in providing automated patient financing solutions as well as management of self-pay accounts for more than 100 hospitals throughout the United States. The Companys financing methodologies are unique to the industry and allow healthcare providers to easily provide affordable financing to a diverse and underserved portion of their patient population. To date, CSI Financial Services has provided hospitals with more than $170 million in advance payments for patient accounts and has extended loans to patients in all states. For more information about CSI Financial Services visit www.csifinancial.com. |
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