NANUET, N.Y., Oct. 2, 2012 -- iMedicor (OTCQB: VMCI) today announced it had entered into an agreement with Careington International Corporation, one of the nation's largest dental networks, to provide iMedicor's Meaningful Use Consulting Services to Providers within the Careington dental community who can qualify under Medicaid guidelines for Federal Incentive Funding.
According to both companies, their alliance will launch two programs to benefit the national dental community and "accelerate the pace of paper-to-digital adoption at the clinical level." The first program will be the registration of qualified Careington providers to enroll in the process of Meaningful Use compliance. The second program, scheduled to begin in early 2013, will invite Careington's network to subscribe to iMedicor's SocialHIE. While only a Medicaid-qualified practice is a candidate for Meaningful Use Consulting, the SocialHIE network advantages are available to every practice.
For its services to Careington providers, iMedicor will receive an upfront consulting fee for each client practice and a percentage of the incentive funds received by all providers during the six-year disbursement period. For SocialHIE adoption, there will be an initial free-trial period of use for the entire Careington community, after which full service subscriptions will be available for a low monthly fee of $35.00 per provider.
iMedicor's Meaningful Use Consulting Services division was established in 2010 when the company signed an agreement to serve as a field agent with the New Jersey HITEC project, one of 63 federally-funded HITEC projects throughout the nation. iMedicor's responsibility has been to work with general practitioners and guide them through the registration process, help them select a qualified Electronic Health Records (EHR) company and, ultimately, assist clients in the final attestation phase that results in the release of Federal Incentive funds. Those funds, released over a five-year period, are $44,000 if the practice is Medicare-qualified and $63,750 if it is Medicaid-qualified. iMedicor has been one of the top-producing agents in the NJ-HITEC project and, to date, has assisted hundreds of general practitioners with their successfully completion of the three-step Meaningful Use process.
"Based upon our experience and the results we have already generated as Meaningful Use consultants," said Fred Zolla, iMedicor's CEO, "we are confident that this service will be embraced by Medicaid-qualified dentists nationwide to help guide them through the process to become Meaningful Use compliant. The dental community has been somewhat overlooked during this massive Federally-directed effort to move healthcare to an electronic-based records system; and our iMedicor-Careington alliance will go a long way in changing that momentum to include dentists."
"With all of the confusion and misinformation in the healthcare market regarding the selection of Electronic Records systems and qualifications for Medicaid Dentists," added Greg Rudisill, Careington Senior VP, Strategic Partnerships, "our alliance with iMedicor will add clarity and lead to a significant increase in the amount of incentive funds being distributed to the dental community."
iMedicor (http://www.imedicor.com/) is a provider of comprehensive healthcare communications solutions that enable physicians and other healthcare professionals to optimize the use of technology in managing their practices and participating in the federally-mandated transition from paper to Electronic Health Records (EHRs). Through two primary services, iMedicor offers low-cost, easy-to-adopt solutions that can be tailored to the needs of individual practices or larger organizations:
- SocialHIE, the first information exchange platform to offer secure messaging services within a social/professional networking architecture. SocialHIE enables any physician, clinic or hospital to transmit and share information such as patient data, test results and images within a secure, HIPAA-compliant environment – and even between disparate EHR systems. SocialHIE also offers additional advantages such as community development, the ability to create private healthcare information exchange networks with patient specific information, and access to a vast catalog of accredited continuing medical education (CME) programs.
- Meaningful Use Consulting Services. iMedicor is qualified to assist both primary care and specialist practices with EHR adoption and to help them attain Meaningful Use and receive incentive payments from the Federal Government for their compliance.
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About Careington International Corporation
Since 1979, Careington International Corporation has provided affordable solutions to more than eight million members nationwide. An established leader in the PPO and discount dental market, Careington remains dedicated to improving the health and well-being of individuals nationwide. Careington's dental products and other health, lifestyle and wellness solutions are designed to complement individual, traditional health insurance or stand alone to provide substantial savings for uninsured or underinsured individuals – especially in the dental community. For more information, call (800) 441-0380 or visit www.careington.com
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties.
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