LOS ANGELES, CA–(Marketwired – Sep 23, 2013) – MMRGlobal, Inc. (OTCQB: MMRF) today called attention to a column in Sunday’s Los Angeles Times about the transformation in the way pharmacies are doing business under Obamacare. The use of health information technology will play a key role in the transformation of care and as a result the Company projects that Personal Health Records (PHRs) should see significant growth. MMRGlobal, through its wholly owned subsidiary, MyMedicalRecords, Inc. (collectively, “MMR”), is a leading provider of Personal Health Records for consumers, healthcare professionals, employers, and membership and affinity organizations. Under the 2009 HITECH Act mandating widespread adoption of Electronic Health Records by 2014, in order to meet Meaningful Use Stage 2 requirements and qualify for stimulus funds, eligible professionals must provide more than 50 percent of their patients the ability to view, download and transmit their health information through an online portal such as a Personal Health Record within four business days of the information being available to the healthcare professional.
In addition to providing secure online Personal Health Records, MMR also licenses a global patent portfolio which includes eight issued U.S. patents pertaining to Electronic Medical Records, prescription management and Personal Health Records. The patents include inventions that provide methods and systems that allow patients access to, and control of, protected health information, amongst other things. MMR’s global patent portfolio includes patents issued, pending and applied for in Australia, Canada, Singapore, New Zealand, Canada, Japan, Hong Kong, China, Mexico, South Korea, Israel and various European nations. The Los Angeles Times article also points out how pharmacy retailers are attempting to participate in the shift in healthcare by replacing Medicare’s traditional fee-for-service model with pay-for-performance as encouraged under Obamacare. The large pharmacy chains believe that they can deliver better patient outcomes at less cost competing with physicians, keeping a percentage of the savings.
With as many as 30 million additional insured projected under Obamacare, it is believed there will be significant increased demand for prescriptions and the Personal Health Records that help patients manage them. Nationwide, Accountable Care Organizations operating under Obamacare will also help drive the use of health IT and PHRs to millions of consumers. Moreover, as competition for the healthcare dollar increases at retail, and patients are having to become more informed buyers of healthcare, PHRs can be seen expanding to mass merchandisers like Wal-Mart, Costco, Safeway, supermarket chains and others offering pharmacy services.
MMR has already filed a patent infringement claim against Walgreen Co., with nearly 8,000 stores. The complaint alleges that Walgreens is infringing on MMR’s Personal Health Records patent, specifically U.S. Patent No. 8,301,466. MMR is seeking monetary damages as well as a permanent injunction. The complaint states that Walgreens is the nation’s largest drugstore chain with fiscal 2012 sales of $72 billion providing services to over 6 million customers per day. The Company is investigating whether other pharmacy chains, including CVS, with 7,458 stores, and RiteAid, with 4,623 stores, could also be infringing on MMR’s patents as a result of the move to becoming healthcare convenience clinics.
About MMRGlobal, Inc.
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, 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 in real time through an integrated patient portal. 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.