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OCG Technology, Inc. Marketing Update
PR Newswire - October 09, 1998 08:45
NEW YORK, Oct. 9 /PRNewswire/ -- OCG Technology, Inc. (OTC Bulletin Board: OCGT). The following update is for the purpose of keeping our shareholders and the investing community informed of the Company's business activities. The newly developed Marketing Plans for the Company's PrimeCare(TM) System and E&M CodeComplier(TM) were laid out at the Company's Annual Shareholders' Meeting, held on June 23, 1998. Michael Eckstein, Executive Vice-President Operations & Business Development, stated that since joining the Company early in the year his efforts have been primarily devoted to establishing the sales and marketing infrastructure. After extensive product analysis and business model assessment, the Company's "debutante ball" with new marketing materials was held at the Annual Conference & Exposition of the Medical Records Institute in San Antonio in May. Mr. Eckstein pointed out that: (a) less than 5% of all practicing physicians have access to or use a computerized patient record ("CPR") while 60% to 70% have billing systems; and (b) new government regulations regarding E&M coding should drive product sales. He further stated that value added resellers ("VARs") will be recruited to sell the Company's products. In June, Mr. Eckstein hired Howard Bennett to develop a national reseller network for the Company. Mr. Eckstein's previously employed Mr. Bennett as Director of Distribution for HealthPoint (now HealthMatics),a $40 million project of Glaxo Wellcome, where he was responsible for, and developed a national distribution network of VARs for the CPR business unit developed under Mr. Eckstein's supervision. Mr. Eckstein outlined under ideal circumstances how the traditional VAR recruitment cycle works: Day 1.. contact; Days 2 - 15... dialogue; Days 16 - 31...VAR evaluates the software; Days 31 - 45... closing the deal; Days 46 - 60...VAR training; Day 61 VAR makes its first sales call. Mr. Eckstein also stated that he would be establishing industry-wide contact with both professional and personal healthcare contacts to discuss alliances, partnering relationships and to generate publicity and awareness. Recently, the Company exhibited its products at the Annual Conference of the Medical Group Management Association held October 4-7, where heavy booth traffic and new alliance discussions bode well for the Company's future.
At present time the Company has contracts with five VARs, and is in discussion and/or evaluation with ten others. The Company currently has ten working installations with a combined user base of fifteen physicians and two PAs. Two of the older DOS installations intend to convert to Windows 95/NT(C) in the near future. Five of these installations have agreed to work with the Company to be used as authorized reference sites for potential users. The Company and/or its VARs are currently in various stages of discussion and/or evaluation with at least eight potential installations, which includes groups, multi-location clinics and hospital clinics. In its regular conversations with its VAR network, the Company has been advised that additional expressions of interest and discussions with other potential installations are moving forward.
"Safe Harbor" Statement:
The statements that are not historical facts contained in this release are forward-looking statements that involve a number of risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors, which are outside the control of the Company as well as those risks and uncertainties detailed in the Company's Security and Exchange Commission filings.
SOURCE OCG Technology, Inc.
/CONTACT: Company Contact: Jeffrey P. Nelson, Executive Vice President of
OCG Technology, Inc., 212-967-3079 Ext. 21, or jnelson@ocgt.com; Investor
Relations: Dennis Nebbe of Dennis Nebbe & Associates, 800-869-1696/
/Web site: _http://www.pcare.com/_ |
