Biometrics Limits Abuse while Improving Convenience Same technology also helps states combat Medicaid fraud
HOLLYWOOD, Calif., Jan. 29, 2013 /PRNewswire/ -- Medbox, Inc. (OTC Markets: MDBX) (www.medboxinc.com), announced that they offer solutions to major pharmaceutical chains like Walgreen's and Rite Aid that are designed to streamline operations, reduce customer wait times, and increase the number of prescription medicines that can be dispensed at any given time.
The Lockbox Rx™ is a proprietary system developed by Medbox that allows customers to pick up their medications at their local pharmacy, quickly and conveniently, 24-hours a day, from a specially designed storage kiosk that is loaded by the pharmacist for later retrieval by the consumer.
The biometric technology that has made Medbox the preferred system of choice in several markets throughout the healthcare industry, has now been written into legislation in the State of New York as a requirement to improve patient identification and combat Medicaid fraud. The legislation reads in part, "(The bill) establishes the 'Medicaid identification and anti-fraud biometric technology program,' requiring the department of health, in consultation with the office of the Medicaid Inspector General and the Office of the Attorney General to implement a program requiring the use of biometric technology, in the form of palm scanners, as a means of identification and anti-fraud in the Medicaid program."
According to state officials, New York will spend over $54 billion this year on Medicaid and about 10 percent or $5.4 billion will be on fraudulent charges. This new legislation would implement biometric technology to end this wasteful abuse. Medicaid patients would receive Identification cards containing coded and encrypted biometric markers. Checkups would always begin and end with the card being scanned. Physician offices, facilities, and pharmacies would also scan patients' fingerprints and swipe the card, which would then allow payment from the Medicaid system.
Other states, including Texas have considered similar measures, and Georgia has already approved a similar bill to institute Medicaid ID cards with biometric technology. Meanwhile, Medbox is currently working on targeted acquisitions within the healthcare technology sector that will help shape the landscape of sensible medication dispensing nationwide that will demand accountability without creating a nuisance to valid consumers.
"Biometric identification like ours has been thoroughly tested and proven as an effective means not only to eliminate fraud, but also to increase the speed of processing a patient or a transaction, thereby improving productivity and enhancing the level of service delivered," stated Dr. Bruce Bedrick, CEO of Medbox, Inc. "Whether at the state level, such as New York's Medicaid program, or at the corporate level such as at a Walgreen's or Rite Aid, Medbox stands ready to deliver products, software, systems and consultation to limit abuse and improve the consumer experience."
About Medbox, Inc:
Medbox is a leader in the development, sales and service of automated, biometrically controlled dispensing and storage systems for medicine and merchandise. Medbox has offices throughout the world, including New York, Arizona, Connecticut, Massachusetts, Tokyo, London and Toronto, and has their corporate headquarters in Los Angeles.
Medbox provides their patented systems, software and consulting services to pharmacies, dispensaries, urgent care centers, drug rehab clinics, hospitals, prison systems, hospice facilities, and medical groups worldwide.
Medbox, Inc. is a publicly traded company, and is quoted on the OTC Markets, ticker symbol MDBX.
For more information on Medbox, please contact the Medbox Investor Relations Department at (800) 762-1452 or go online to www.medboxinc.com.
SOURCE Medbox, Inc.