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."
(http://www.newsday.com/news/local/wire/connecticut/ny-bc-ct--e-healthrecords0610jun10,0,6112214.story?coll=ny-region-apconnecticut)
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
