VisualMED to Benefit From New Incentives for Hospitals From Federal Government
December 14 2011 - 8:30AM
Marketwired
VisualMED Clinical Solutions Corp. (The "Company") (PINKSHEETS:
VMCS) (FRANKFURT: VA6.F) announces it is pleased by U.S. Federal
Government announcement of significant new financial incentives
designed to encourage faster adoption of EHR by facilities and
physicians. The new subsidies are meant to speed up the adoption
rate of health IT smart products like the ones offered by
VisualMED.
"This is great news for our company. Our client base is now
entitled to even greater payments from Uncle Sam," says Company
Chairman & CEO Gerard Dab. "These new incentive payments, which
will be compounded with current programs such as the American
Recovery and Reinvestment Act (ARRA), are expected to have a
significant impact on both our sales growth but also on our pricing
power."
The constant increases in government payments will help the
company to reach its previously published strategic target for 2012
of more than doubling its top line. These powerful incentives
demonstrate the Federal Government's commitment to bring smart
automation to all medical facilities in America. This includes "...
dragging laggards kicking and screaming into the 21st century," as
Dr. David Brailer, the previous administration's medical
informatics Czar, has intoned.
The U.S. Department of Health and Human Services' (HHS) new
policy is to step up new incentives to hospitals and physicians'
offices to speed the adoption of healthcare IT and improve
healthcare. It has also been determined that this policy will
contribute significantly to job creation, making it ever more
politically palatable at the legislative level.
Under the current requirements, eligible doctors and hospitals
that begin participating in the Medicare EHR incentive program this
year would have to meet new standards for the program in 2013. If
they do not participate until 2012, they could wait to meet the new
standards until 2014 and still be eligible for the same incentive
payment.
To encourage faster adoption, HHS will allow doctors and
hospitals to adopt healthcare IT this year, without meeting the new
standards until 2014. Doctors who act quickly can also qualify for
incentive payments in 2011 as well as 2012.
Federal subsidies are also helping train more IT technicians to
build and maintain the digital systems, declared HHS Secretary
Kathleen Sebelius. The Obama Administration has launched four
workforce development programs to help train a new healthcare IT
workforce.
Currently, more than 10,000 community college students are
enrolled in healthcare IT programs, and since November 2011,
universities have graduated more than 500 postgraduate and
masters-level healthcare IT professionals, with more than 1,700
students expected to graduate by July 2013, Sebelius said.
ABOUT VISUALMED VisualMED markets smart
Clinical Information Systems (CIS) with EHR and Computerized
Physician Order Entry that are at the core of the new regulatory
environment ushered in by the American Recovery and Reinvestment
Act of 2009 and the Health Reform Act of 2010. We offer medical
facilities and physicians a broad array of clinical applications
with rich embedded clinical data, both scalable and interoperable,
and whose high level of usability has been tested by over one
thousand clinicians over many years in tertiary care and ambulatory
environments. Our solutions help medical facilities increase
provider efficiency, bring down operating costs, demonstrate
meaningful use for ARRA grants and subsidies, and reduce mortality
and morbidity. The Company's Suites of Medical Solutions operate on
state of the art proprietary software platforms with advanced
analytical capabilities provided by Visual Healthcare Corp.
(PINKSHEETS: VSHC).
Detailed information on our company and its products is
available on our web site at www.visualmedsolutions.com
FORWARD-LOOKING STATEMENTS Except for historical information
provided herein, this press release may contain information and
statements of a forward-looking nature concerning the future
performance of the Company. These statements are based on
suppositions and uncertainties as well as on management's best
possible evaluation of future events. Such factors may include,
without excluding other considerations, fluctuations in quarterly
results, evolution in customer demand for the Company's products
and services, the impact of price pressures exerted by competitors,
and general market trends or economic changes. As a result, readers
are advised that actual results may differ from expected
results.
For further information, please contact: Gerard Dab
514-582-5220