(Lynbrook, NY, January 29, 2001) Pharmacists practicing in the long-term care market may soon find relief for their cash flow ills, thanks to a new service developed jointly by MyReceivables.com and Assisted Living Pharmacy Association (ALPhA). The two partnered to develop the new service, which will allow pharmacists caring for long-term customers to automate their billing process, decrease administrative costs and improve their cash flow.

Called ALPhA Pay, the new service is designed to reduce the expense of administering accounts receivables, expedite cash flow and offer pharmacy benefit manager-like functionality to a segment of patients who do not have insurance. MyReceivables.com is the leading provider of online accounts receivable funding and management and technology services. ALPhA is an organization designed to increase revenues, profit, cash flow and valuations of its member pharmacies.

"With our combined efforts, we will meet the demand for consistent cash flow and allow pharmacists to take advantage of having accounts receivable money available immediately," said Leonard Leff, president and chief executive officer of MyReceivables.com and its parent company, CDS Companies.

For pharmacies practicing in long-term care, up to 50 percent of their accounts receivable is comprised of private pay or cash accounts. Typically, patients are billed manually with monthly statements, and pharmacists receive payment in 60 to 90 days.

"ALPhA Pay will slash the time it takes for a pharmacy specializing in the long-term care market to receive payment to one to seven days," Brian Smith, executive vice president of ALPhA.

ALPhA was formed in July 2000 to satisfy the needs of pharmacies specializing in assisted living resident care, assisted living companies, chains and residents. ALPhA offers a full range of services for these long-term care providers including ALPhA Pay. The company is located in Weston, Fla. For information about ALPhA or its ALPhA Pay services, contact Brian Smith at (954) 659-1662 or by email at bsmith@hollywoodhc.com.

MyReceivables.com launched its operations in early 2000. The company is the first provider of a full range of online accounts receivable services. This includes accounts receivable funding and management, technology, virtual credit cards, billing, collections, and database marketing, making it the Internet's leader for small business accounts receivable funding and management. Additionally, MyReceivables.com is leading the way with proprietary online payment and transaction processing technology offering a variety of custom credit purchasing programs for consumer and business-to-business Internet transactions.

CDS Companies is a New York-based financial services and technology company and a member of the Independent Community Bankers of America. For more information, visit the company's web site at www.MyReceivables.com or call Leonard Leff, president and chief executive officer at
1-800-338-7353.