MedTech, Inc. Announces Upgrade to e-MedSoft.com Software
Thursday January 28, 8:31 am Eastern Time
Company Press Release
MedTech, Inc. Announces Upgrade
to e-MedSoft.com Software
Company Projects Revenues of $25 Million from
Existing Contracts
LOS ANGELES--(BUSINESS WIRE)--Jan. 28, 1999--Today, less than two weeks after the initial and publicized launch of its on line, JAVA-based, health care management system, MedTech, Inc. (OTC:MDTK - news) announced that it has released the first upgrade of its e-MedSoft.com software and that it has entered into contracts which the Company expects to generate a $25 million revenue base during its first year.
E-MedSoft.com is a subscription-based healthcare management software that is a complete healthcare management system, incorporating a Java integrator which allows the software to communicate through the Internet across diverse platforms and languages in unlimited capacity, allowing for the inter link of doctors, hospitals, clinics, HMO's, insurance companies, financiers, and government agencies.
The upgrade provides for significant additional functionality of the software, particularly in the area of utilization and management reporting. The upgrade allows for sophisticated analytical reporting along varying pathways, including disease, diagnosis, treatment and outcomes. Further, over 30 new reporting capabilities have been added, including reports based on physician performance, patient profitability, and fraud detection.
Commenting on the upgrade, John Andrews, chief executive officer of MedTech, Inc., stated, ''E-MedSoft.com is intended to be a healthcare management system. The key word is management. The real value of our software is in assisting healthcare practitioners and providers to deliver better and more efficient healthcare through comprehensive financial and clinical analysis. The significance of this upgrade is not the enhancements we have made, but our commitment to continue improving our software on an ongoing basis. Because our e-MedSoft.com can be accessed through the Internet, improvements in the software are instantaneous and seamless. We don't have to mail out new versions of our software every three or four months, as do other software providers. Nor do our clients need to concern themselves with hardware upgrades as well, because the server based system allows for upgrades to occur remotely and automatically.''
The Company also announced that e-MedSoft.com is currently in Beta testing at three different clinical facilities, and that the Company has recently entered into a number of agreements designed to enhance initial market penetration.
John Andrews, commenting on various recently signed agreements, said, ''We are moving forward on a path that is even more swift and effective than that originally charted by me at the time we acquired MedTech. A surprising development is the ability to utilize our very
sophisticated software technologies in order to achieve growth not only internally but also through mergers, acquisitions or joint ventures with established software providers that are looking for the latest technology solutions. This is a strategy that can take us as far as our technology can...and we believe that will prove to be very far indeed. We expect the contracts we have entered into to-date to generate in excess of $25 million in gross revenue over the next 12 months. We are talking to potential new customers every day, and all
indicators tell us the medical community is open and receptive to the e-MedSoft.com system. However, in these early stages of marketing e-MedSoft.com, our focus is not just on building revenues, but on ensuring we are providing a superior software product.''
MedTech, Inc. with its recently acquired medical software product, being sold under the trade name e-MedSoft.com, is leading a transition in the medical industry, as it is the first subscription-based healthcare management system available for delivery through the Internet. Users of the software are charged a small up front installation fee, and an ongoing subscription fee based on transaction volume. The medical software is a complete healthcare management system. Through the Internet, its Java based integrator allows the MedTech software to communicate across diverse platforms and languages in unlimited capacity, allowing for the inter link of doctors, hospitals, clinics, HMO's, insurance companies, financiers and government agencies. The ease and low cost with which it can be implemented, its Internet connectivity, and its ability to allow for the exchange of information across diverse platforms and systems bode well for its widespread adoption by the medical community.
Contact:
Magnum Financial Group, LLC
Michael Manahan, 213/488-0443
msmanahan@magnumfinancial.com |
