LOS ANGELES, CA–(Marketwired – Jun 17, 2013) – MMRGlobal, Inc. (OTCQB: MMRF) (“MMR”), a leading provider of Personal Health Records (PHRs), MyEsafeDepositBox storage solutions, and electronic document management and imaging systems for healthcare professionals, today announced that it will offer a program for healthcare providers they can use to offset the entire cost of a 4medica Certified for Meaningful Use Integrated Electronic Medical Record (EMR) system for any size practice. All the physician’s office has to do is activate one patient per day per physician in the practice to a MyMedicalRecords Personal Health Record during the first month, and the EMR system is free. As long as 30 patients stay in the system, the EMR program remains free. When additional patients are activated, MMR pays the physician or group practice 30% of the incremental PHR revenue. Based on a three physician practice, adding only one patient per day to the PHR could result in the practice receiving more than $100,000 over three years. This is in addition to the $44,000 in U.S. government stimulus money paid to each physician in the practice. The program is part of the Company’s MMR Stimulus Program, which continues generating reimbursement revenues to offset the cost of providing access to a patient’s personal health information in accordance with requirements under Stage 2 Meaningful Use starting in January 2014. This program shows how PHR adoption can self-liquidate the cost of 4medica’s Electronic Medical Record system and how a licensing or strategic business relationship with MMR integrating the Company’s products, services, patents and other intellectual property can generate revenue for an EMR provider through additional sales of its products. A study by PwC’s Health Research Institute reports that adoption of PHR usage will increase significantly and how simple patient engagement during check-in, prep and consultation results in patient’s usage of PHRs.
The 4medica Meaningful Use Certified cloud-based EMR system is comparable to the best of physician EMR systems. 4medica comes bundled with a full-scale practice management solution, scheduling, mobile access and two-way communications to the MyMedicalRecords PHR. 4medica is also already connected to hundreds of laboratories, radiology centers and hospitals, which simplifies the initial startup for any practice. In addition, MMR and 4medica have already deployed solutions for state labs and other organizations including one that provides healthcare to more than 100,000 employee patients.
4medica already manages day to day laboratory results for more than 40,000 physicians. As a result, physicians’ data will most likely be instantly available upon login to the EMR system. Unlike other cloud EMR packages, 4medica’s user-friendly note writer is built around a word processor with customizable specialty templates, further simplifying training and integration to a practice.
MMRGlobal also offers physicians and their patients protection under its million dollar Cyber Liability Insurance Policy, which, among other things, protects healthcare professionals using the Company’s MMRPro document management and imaging system to defend themselves in the event of a violation of the expanded HIPAA regulations under the Health Information Technology for Economic and Clinical Health Act (HITECH). The underlying Cyber Liability policy is underwritten by an A-rated insurance company by A.M. Best to cover damages arising from the use and deployment of the Company’s personal and professional health record products and services. The coverage extends to MMRGlobal’s corporate clients that offer MMR’s products and services as an employee benefit and to individuals who sign up to receive MMR’s services over the Internet.
MMR’s Health Information Technology products and services are covered under the Company’s Patent Portfolio which includes seven issued U.S. patents — U.S. Patent Nos. 8,301,466; 8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; and 8,321,240 — as well as additional applications and continuation applications including nearly 400 claims. The patents involve inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems. MMR also has been granted patents and has other pending applications in countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Japan, Canada, China, Hong Kong, South Korea, Israel, and European nations. The Company’s health IT patent portfolio was the subject of a May 2, 2013 report on Personal Health Records that concluded that the value of the Company’s U.S. patents could reach between $800 million to $1.1 billion in revenue (available at http://michaelbass.com/PDF/Patent_Valuation.pdf).
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-use online Personal Health Records (“PHRs”) and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, retail pharmacies, and professional organizations and affinity groups. The MyMedicalRecords PHR enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. MyMedicalRecords is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user’s account. The Company’s professional offering, MMRPro, is designed to give physicians’ offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients through an integrated patient portal. The MMR Stimulus Program is subject to the terms and conditions of the MMR Stimulus Physician Agreement. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 antibodies and data and samples from its FavId™/Specifid™ vaccine clinical trials for the treatment of B-Cell Non-Hodgkin’s lymphoma. To learn more about MMRGlobal, Inc. visit www.mmrglobal.com. View demos and video tutorials of the Company’s products and services at www.mmrtheater.com.