Medix Healthcare Connectivity Summit
Predicts Internet Will Lower Costs and Save Lives
NEW YORK--Sept. 28, 2000--Medix Resources, Inc. (AMEX: MXR) and
WellPoint Pharmacy Management, a wholly-owned subsidiary of WellPoint
Health Networks Inc. (NYSE: WLP), today announced that they
successfully co-sponsored the first Annual Tahoe Summit on Healthcare
Internet Connectivity at South Lake Tahoe, California, September
21-23, 2000.
More than 60 healthcare industry representatives from
approximately 35 organizations attended the three-day conference on
healthcare Internet connectivity.
Joan Herman, Group President of WellPoint Pharmacy Management,
stated "WellPoint believes that the adept use of collaborative
technologies will redefine relationships between benefits providers
and physicians in a meaningful way. Therefore, WellPoint was delighted
to co-sponsor the Summit with Medix Resources to further our efforts
to create win-win relationships with our physician partners."
Dr. David Skinner, President Emeritus of the New York-Presbyterian
Healthcare System and a Director of Medix Resources, Inc., opened the
conference. He commented, "The practical application of information
technology at the point of care is integral to the evolution of
healthcare. Physicians and hospitals need to be more efficient.
Information technology is the key to eliminating the vast resources
wasted each year. Medix has a solution that will enable a
collaborative business environment linking providers, payers and
healthcare service organizations."
According to attendee Ron Robinson of Axminster Medical Group,
"The Tahoe Summit on Healthcare Internet Connectivity was engaging,
enlightening and enjoyable. The topic was timely, the presenters were
well informed and the location was fabulous. Internet connectivity and
the resultant issues for healthcare providers are many. It is a
pleasure to see a company such as Medix deal with the realities of the
future and provide tangible solutions."
Other highlights and topics discussed at the summit included:
-- A presentation by UBS Warburg Managing Director Michael D.
Clulow on the future of the healthcare Internet industry.
-- How payers and providers forming a virtual digital community
can achieve mutual and complementary benefits by cutting costs
and saving lives.
-- A demonstration of the Cymedix.com product suite including the
hand-held solution it is developing with ParkStone Medical
Information. The Company has created the next generation of
code, which utilizes a Web client in conjunction with its
patented Universal Interface (UI). The UI, which is being
piloted in the field with the Company's first generation
thick-client application, enables the seamless access to
information contained in legacy software such as physician
practice management applications. This information can then be
packaged in discrete transactions and transmitted to health
insurers, labs, pharmacies and hospitals to automate many of
the manual processes that are so expensive and time-consuming.
A complete product description is available on the
www.cymedix.com Web site that was re-launched in conjunction
with the Tahoe Summit.
"Healthcare is a $1.5 trillion industry tolerating $400 billion of
administrative and clinical waste every year," John R. Prufeta,
President and Chief Executive Officer of Medix Resources, Inc. told
the assembly of industry leaders. "We believe that collaboration among
providers and payers is the key to rationalizing the structure and
indeed the economics of the healthcare industry. In our opinion, a
common connectivity platform linking healthcare providers, payers and
other service organizations can not only generate tremendous value for
these participants, but is also the missing link to a more
cost-effective and higher quality healthcare system for all consumers."
Mr. Prufeta commented, "This conference convened significant
players in the healthcare industry for the expressed purpose of
exchanging ideas and experiences, vetting what works and what needs
further refinement in the healthcare connectivity arena. The speakers
presented topics on important issues of the day including HIPAA and
the Internet, point-of-care information systems, defining and building
B2B healthcare transactions, and the Internet's impact on the future
of healthcare.
"Approximately 7,000 deaths occur every year in the U.S. due to
medication errors. If doctors had complete patient information
instantly at their fingertips, the incidence of medication errors
would decrease dramatically," he added.
"The high cost of administration in healthcare is directly
attributable to the extreme fragmentation and antiquated state of
information technology. In today's environment, the myriad of legacy
systems simply cannot communicate information outside the enterprise,
creating barriers to efficiencies that are enjoyed by virtually all
other industries. In the healthcare industry, there are over 30
billion healthcare transactions per year, and only 2.5 billion are
even semi-automated. This leaves a large market opportunity available
for leaders in connectivity solutions such as Medix Resources that are
able to work efficiently within the framework of this reality."
About Medix Resources, Inc.
Medix Resources, Inc. through its wholly owned subsidiary Cymedix
Lynx Corporation is the developer and provider of the Cymedix.com(R)
suite of fully-secure, patented Internet based software products, that
will allow instantaneous communication of high value added healthcare
information among doctor offices, hospitals, health management
organizations and insurance companies. Additional information about
Medix Resources and its products and services can be found by visiting
its Web sites, www.medixresources.com and www.cymedix.com, or by
calling (800) 326-8773.
About WellPoint Pharmacy Management
WellPoint Pharmacy Management is the nation's leading health
plan-owned pharmacy benefit management company serving approximately
22 million lives. WellPoint Pharmacy Management is the trade name of
Professional Claim Services Inc., a wholly owned subsidiary of
WellPoint Health Networks Inc. (NYSE:WLP). With complete pharmacy
benefit management services for employers and health plans nationwide,
WellPoint Pharmacy Management's products include, clinical management
programs, drug formulary management, claims processing, benefit design
consultation, pharmacy network management, local network contract
development, manufacturer discount programs, prescription drug
databases and utilization management. Additional information on
WellPoint Pharmacy Management can be found online at
www.wellpointrx.com, or by calling (800) 451-0433.
Information in this press release contains forward-looking
statements that involve risks and uncertainties that might adversely
affect the Company's operating results in the future to a material
degree. Such risks and uncertainties include, without limitation, the
ability of the Company to raise capital to finance the development of
its software products, the effectiveness and the marketability of
those products, the ability of the Company to protect its proprietary
information, and the establishment of an efficient corporate operating
structure as the Company grows. These and other risks and
uncertainties are presented in detail in the Company's Form 10-KSB for
1999,and its Form 10-QSB for the second quarter of 2000, which were
filed with the Securities and Exchange Commission on March 30, 2000,
and August 10, 2000, respectively. This information is available from
the SEC or the Company.
This press release and prior releases are available on the KCSA
Public Relations Worldwide Web site at www.kcsa.com
CONTACT: MEDIX RESOURCES, INC.:
John R. Prufeta, President and CEO
212/697-2509
212/681-9817 (fax)
jprufeta@cymedix.com
or
KCSA INVESTOR CONTACTS:
Joseph A. Mansi / Elena Bonaiuto
212/896-1205 / 212/896-1233
212/697-0910 (fax)
jmansi@kcsa.com / ebonaiuto@kcsa.com
or
KCSA MEDIA CONTACTS:
Jessica Gates / Kevin Rini
212/ 896-1229 / 212/896-1292
jgates@kcsa.com / krini@kcsa.com |
