iMedicor Helps More Than 300 Physicians And Dentists Qualify For Federal Incentive Funding Of $17 Million
NEW YORK, Jan. 3, 2013 /PRNewswire/ -- iMedicor (OTCBB: VMCI) today announced it has been designated as one of the leading consultants in the country for the national HITEC project, through its contract with the NJ-HITEC organization. iMedicor has helped more than 300 primary care physicians qualify to receive Meaningful Use Compliance incentive funds of nearly $15 million from the Office of the National Coordinator (ONC) under the Department of Health and Human Services (HHS).
NJ-HITEC has been recognized by ONC as one of the most successful of the 63 federally-funded HITEC projects throughout the nation, and iMedicor has consistently been its top consultant since July 2012 for primary care physicians.
iMedicor also provided Meaningful Use Compliance services to 34 New Jersey Dental Association providers as part of an initial pilot project last year. As a group, these dentists became eligible to receive up to a total of $ $2,167,500 over a six-year period.
In addition, due to iMedicor, there is currently over $8 million in Meaningful Use incentive funding pending for an additional 150 physicians and dentists.
Federal legislation enables medical and dental practices with a minimum of 30% of their treated patients under Medicaid or Medicare to qualify for a total of $63,750 (Medicaid) or $44,250 (Medicare) in incentive funds, with an initial payment of $21,250 or $18,000, respectively, plus five subsequent annual payments of $8,500 or $5,250, respectively.
"We are extremely proud to have achieved number one status in our efforts on behalf of Primary Care physicians and dentists in New Jersey," said iMedicor CEO, Fred Zolla. "Our expertise in navigating the often complex regulations for receiving Meaningful Use incentive funding will continue to enable the nation's physicians and dentists to receive, with minimum stress and workflow interruption, the full Federal benefits to which they are entitled."
iMedicor said it expects to soon announce a Meaningful Use consulting service for more than 8,000 dentists in the Mid-Atlantic states, with a full national roll-out planned for later in the first quarter through a recently announced strategic alliance within the national 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.
For investor information, please go to http://www.ir-site.com/imedicor/default.asp .
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.