News! (for a change :-))
Monday September 22 9:15 AM EDT
Company Press Release
OCG Technology Reports 66% Productivity Increase by Medical Practice Using its PrimeCare(TM) Patient Management System
NEW YORK, Sept. 22 /PRNewswire/ -- OCG Technology, Inc. (Nasdaq:OCGT) announced results from the first commercial installation of the recently released Windows(R) 95/NT version of its PrimeCare(TM) Patient Management System (the ``PrimeCare System''), a proprietary clinical software product of OCGT's wholly owned subsidiary, PrimeCare Systems, Inc. (``PSI'').
The medical practice reports that through use of the PrimeCare System the number of patients seen during normal office hours increased 66% and in addition, documentation of the patient encounter has been significantly enhanced and the quality of care has been raised to a higher level. These improvements were acknowledged in the report of a ``Patient Medical Record Review'' of this practice, conducted by a highly regarded, nationally known, Managed Health Care Plan. The evaluation report of the ``Patient Medical Record Review'' gave this practice the highest possible Review Score of 100 and the report stated: ``There has been a recent improved documentation product called PrimeCare that will greatly improve the quality of care and continuity of care for the patients.''
According to the American Medical Association, there are over 650,000 physicians in the U.S., creating a very large potential market for the System. The Company estimates that as many as 250,000 of these physicians could use the system routinely. It is estimated that the average number of patient visits per month for a primary care physician is between 500 and 600. PSI receives a license fee of $1.50 per patient visit.
In July, PSI initiated the marketing of the PrimeCare System in the northwest Florida area through OCGT's wholly owned subsidiary Medical Information Systems (``MIS''), headquartered in Pensacola, Florida. MIS's solid customer base in Florida and Alabama, and its extensive experience and expertise with sale, installation, training and maintenance of medical office management and medical billing systems make it a logical choice for introducing the PrimeCare System. By design, installations were initially limited to two sites in order to enable both PSI and MIS to review and evaluate the procedures established for installation and training of this entirely new version of the System and its new medical billing interface. As a direct result of the experience gained from these initial installations, modifications were made to simplify installation, improve training procedures and reduce costs. These improvements are expected to have a positive effect on future installations of the PrimeCare System.
Edward Levine, President of OCGT stated, ``During development and testing, we were confident that the new version of the PrimeCare System would continue to be a superior, very useful and highly beneficial software package. We are extremely pleased that these beliefs were strongly confirmed by the positive reaction of the users (the physician, staff and patients) and then reconfirmed by the independent review by a major national Managed Health Care Plan with millions of members. We believe these results will favorably impact current evaluations of the System and scheduled meetings with physicians, physician groups, health plans, distributors and state and federal health care representatives.''
The PrimeCare System is a patient-computer interactive system that records the patient's history via responses to simple ``yes'' or ``no'' on-screen queries. Through its use, the PrimeCare System provides the physician with possible diagnoses of the patient's complaint, expert physician medical reference material that they may view on-screen or print at the touch of a button, cross-checking of prescribed medications for drug interactions and printed prescriptions to reduce pharmacy errors. In addition, the PrimeCare System gives patients printed educational materials concerning prescribed medications, their disease and disease management. The PrimeCare System also automates the production of a complete patient record, replacing hand written or dictated records.
OCGT also manufactures and markets the Cardiointegraph, a patented device for the early detection of coronary heart disease in patients who have a normal resting electrocardiogram. In addition, it markets medical billing software to physicians and other healthcare providers.
``Safe Harbor'' Statement:
The statements that are not historical facts contained in this news release are forward-looking statements that involve a number of risks and uncertainties, including, but not limited to, the risks of uncertainty of patent and/or copyright protection, possible technological obsolescence, competitive action by other companies and other risks detailed in the Company's Securities and Exchange Commission filing.
SOURCE OCG Technology, Inc. |
