5021 Indian School Road NE,
• Suite 100,
Investor Contact: Frank N. Hawkins, Jr. or Julie Marshall · Hawk Associates Inc. · (305) 451-1888 · www.hawkassociates.com
Net Medical Xpress™ Revenue up 32% To $1.2M. Net Income $53k As Company Records Strong Growth In New Telemedicine Services from Cardiology to Neurology.
ALERT: The company will hold a conference call with CEO Dick Govatski on Thursday, May 16, 2013 at 11:00 am Eastern time to discuss its first-quarter 2013 financial results, business highlights and outlook. In addition, the company will answer questions concerning business and financial developments and trends, and other business and financial matters affecting the company, some of the responses to which may contain information that has not been previously announced.
To participate in the call, dial 1-877-941-2068 any time after 10:50 a.m. Eastern on Thursday, May 16th. International and local callers should dial 1-480-629-9712. Participants should ask for the Net Medical Xpress First Quarter 2013 Financial Results Conference Call/Conference ID 4618960. A live and archived webcast of the call will be available at http://public.viavid.com/index.php?id=104717. This call will be archived for approximately 90 days.
Net Medical Xpress Solutions is focused on Telemedicine, rapidly emerging as the fastest growing segment of the healthcare industry.
Medical information is exchanged from one site to another via electronic communications for the health and education of the patient or healthcare provider as part of providing real time consultative, diagnostic and patient treatment services.
This is particularly valuable for rural hospitals,their patients and the families of the patients who benefit from real time effective specialist care in high stress and emergency situations.
More than 5 million Americans had their medical images read remotely in 2012. Approximately 10% of all intensive care beds in the U.S. use telemedicine. More than 10 million Americans benefited from telemedicine technology in 2012. Now, growing pressure from rising costs, provider shortages and increasing demand are forcing policy makers to further ramp up uses for telemedicine.
NET MEDICAL XPRESS HAS THREE OPERATING UNITS
Net Medical Xpress Solutions
The company’s software engineering unit provides Picture Archiving and Communications (PACS) hardware and software to hospitals and other medical facilities.
Its proprietary XR-EXpress system enables doctors to examine medical images (X-Rays, CT Scans, Ultrasounds, EKGs, Echocardiograms, Barium studies) and make diagnostic judgments in real time securely over the Internet.
Both the company’s proprietary Telemedicine Cart workstations and mobile devices such as iPhones, iPads, Android devices and Samsung tablets are supported. Image quality is vital since images are used by doctors to diagnose patients. XR-EXpress captures medical images as high resolution Dicom files, "tags" them with patient information, distributes the files to credentialed, licensed medical doctors, returns reports to the medical facility requesting them and stores them online for seven years.
With XR-EXpress, medical professionals can diagnose a case from their own computers and immediately return the results, significantly cutting the time it takes to provide critical information for primary physicians to promptly treat their patients. Previous cases for a particular patient may be accessed from the database at any time, eliminating the cost and hassle of storing old X-Ray film and paper files.
The company provides its cardio PACS service to heart hospitals. The solution is a unique XR-EXpress development that includes vascular and system wide integration with a hospital's existing cardio monitoring equipment.
XR-EXpress is a secure, FDA 510(k) cleared, HIPAA compliant system designed to protect the confidentiality of patient files and records. The system is available for resale and can be installed at a medical facility or purchased as a “Software-as-a-Service.”
Net Medical Xpress Services
Net Medical Xpress Services provides real time diagnostic capabilities through readings and reports of X-rays, echocardiograms, EKGs, CTs, MRIs and other modalities at over 15,600 facilities in the U.S. with over 40 radiologists and 15 cardiologists providing around the clock service.
The reading business of NMXS’ operating units is a 24/7/365 service. The company’s radiologists, cardiologists, and neurologists who are licensed in all 50 states are highly experienced in specialized studies. The operations team assists the company's doctors by routing and coordinating doctor-to-doctor conferences and managing the workload.
The company has outstanding turn around times for emergency cases as well as routine exams.
Net Medical Xpress Services provides final reports available in real time for X-rays, echocardiograms, EKGs, CTs, MRIs and other modalities at over 15,600 facilities in the U.S. The company has 40 radiologists and 15 cardiologists providing around the clock service.
The company's recent turn around times for STAT cases is 12 minutes, 18 minutes for routine exams and 20 minute averages for most exams.
Net Medical Xpress Specialists
Rural hospitals use specialists from Net Medical Xpress to provide higher than previously available levels of point of care service to assist with acute medical needs ranging from strokes to heart attacks. The company’s specialists are credentialed to provide services for neurology, stroke services, cardiology, infectious diseases, renal exams, psychology and dermatology.
The web-based program enables specialists located in population centers to make real-time assessments of patients at rural medical facilities through a secure and HIPAA compliant video examination.
An active recruiting program is underway for credentialed specialists throughout the country to help serve the large rural hospital market.
Net Medical Xpress Q1 ’13 Revenue up 32% to $1.2M. Net Income $53k as Company Records Strong Growth in New Telemedicine Services
Net Medical Xpress Announces Date of First Quarter 2013 Financial Results
Net Medical Xpress Announces Formation of Technology User’s Group
Net Medical Xpress Program Launched to Reduce Hospital Re-Admissions
Net Medical Xpress Showcases New Telemedicine Technology at Tradeshow
- Ability to conclude licensing and
marketing agreements necessary to
successfully penetrate targeted
- Potential competition from larger,
- Ability to strengthen cash flow and
the balance sheet
The company’s rapidly expanding teleradiology/cardiology service is designed to serve both rural and more urban hospitals.
Management said the company’s
disruptive business model is
enabling rural and others in the
medical field to operate more
efficiently in a rapidly changing
environment. Because cost control
has become a top priority for
hospitals and others, customers
say the net medical services are
proving to be invaluable in helping
to hold down costs while actually
improving patient care.
Management said it expects 2013
to be a strong year for the
company. Interest in the company’s
services is high and widespread.
The company said it is in serious
discussions with a variety of health
care providers who see an
opportunity to make Net Medical
an important part of the solution
for their cost and care problems.
Chairman and CEO-
Executive Vice President-
Technology & Development Senior Vice President-
Director of Operations Telerad Division-