Press Release - June 18, 2007 - EARTHtimes
VisualMED Internet Health Record to Be Marketed to HMOs
MONTREAL, QC -- 06/18/07 -- VisualMED Clinical Solutions Corp. (the "Company") (OTCBB: VMCS) (FRANKFURT: VA6) announces that its licensee, Medical.MD, has begun marketing its subscription-based internet electronic health record to HMOs, who will provide access to Medical.MD's online health record to both patients and first line physicians as a tool for managing care. This represents a market of one hundred million insured patients.
"A one percent market share for our system would represent over 20 million per year in recurring revenues for Medical.MD," says VisualMED Chairman Gerard Dab. VisualMED's licensing agreement with Medical.MD calls for the Company to receive 15% of gross receipts of the joint venture. The current HMO initiative combined with ongoing negotiations for large corporate group sales of subscriptions to the website could generate a significant subscriber core in the near term.
"We are pleasantly surprised by this new unexpected HMO market. This usage of the online record brings together patients and physicians in a manner that is both problem-free and inexpensive," adds Mr. Dab.
Leading managed care organizations have begun to look for solutions that can help patients and their physicians share clinical information in a meaningful way. According to AP business writer Stephen Singer, "Insurers like Hartford-based Aetna Inc. say web-based tools help patients and physicians keep track of medical information while potentially holding down spiraling medical costs."
In the AP article, Aetna chief executive Ronald Williams says the change is as revolutionary to health care as the introduction of the ATM card was to banking in the 1980s.
Insurance companies hope online personal health records will also become widely used as consumers take more control of their own healthcare. "There's agreement that moving to an electronic system will remove errors and get people more involved in health care," said Susan Pisano, a spokeswoman for America's Health Insurance Plans, a Washington, D.C.-based trade association that represents health insurers.
"Online health records help patients track an array of tests, treatments and numerous other actions required to handle chronic illnesses," Pisano said.
The personal electronic health record is powered by the same VisualMED technology used in acute care paperless hospitals with its more than 28,000 decisional algorithms, decision support and evidence-based practice. Confidentiality of data is protected by encryption technology that meets HIPPA standards and has been validated by the regulatory bodies in several states. Secure hosting is to be provided by one of the world's largest information technology companies.
The online record may receive and store lab results, imaging, prescriptions, diets, referrals, consults and vital signs. Each subscriber has his own password and controls access to his own record.
A number of patients served by HMOs may not be fully cognizant or familiar with electronic documentation. The online record and its access code are therefore provided by the HMO to both the patient and the patient's physician who uses it to enter and validate clinical and demographic information. The HMO is also able to access information, as appropriate to its mission. Data is centrally stored and may be used to facilitate billing and other activities appropriate to the type of information stored in any individual record. Access by any user other than by the patient is through patient consent only.
Managed care patients and their care givers will have fully secure, immediate access to their full personal medical record from anywhere in the US, and will be able to independently manage their personal health record. Medical.MD is providing the same medical technology currently in use in cutting-edge paperless hospitals in the United States and Canada.
About Medical.MD Inc.
Medical.MD provides web-based technology that allows subscribers to monitor their own patient record and care procedures. State-of-the-art clinical information system software allows anyone to access key information critical to their own care, and provides a full range of medical information for any condition and available treatments, which when used alone or in conjunction with a physician, can dramatically increase the chances for positive health outcomes, and lead to a better informed public.
About VisualMED
VisualMED Clinical Solutions Corp. markets and distributes clinical management solutions that help hospitals and healthcare authorities reduce medication errors, increase personnel efficiency and bring down operating costs. One of its key decision support components is a core solution in the new agenda to promote greater patient safety and reduce risks due to medication errors.
Detailed information on our company and its products is available on our web site at www.visualmedsolutions.com.
Forward-Looking Statements
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
Contact:
Barry Scharf
C.O.O
VisualMED Clinical Solutions Corp.
Tel: 514 274 1115
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