RENO, NV -- (Marketwire) -- 12/14/11 -- 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.
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.
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