Medex to Partner with Merging Life
CHULA VISTA, Calif., Dec. 31, 2012 /PRNewswire/ -- Medex Inc. (OTC Pinksheets: MDXX) is pleased to announce that it is in negotiations for a partnership agreement with two medical Doctors and Merging Life in California.
The partnership program to setup concierge medicine and doctors at home programs will be based in Los Angeles, CA initially with plans to expand the program across the US. Currently, the company has access to one of the largest retirement villages in the State of California in which to commence the program.
Concierge medicine comes in many different forms, according to Tom Blue, the Academy's executive director. About 75% of concierge physicians hold on to their traditional practice, but take additional fees from a small number of patients who receive special perks, priority treatment and services not covered by traditional insurance. On the other end of the spectrum, doctors forgo relationships with Medicare, Medicaid and insurance carriers entirely, building their practice exclusively on patients willing to pay annual retainer fees for care. Depending upon the services, fees range from as little as $60 per year up to $30,000 per year. The majority of patients still carry health insurance to pay for specialized services that their concierge doctor is unable to provide.
For doctors, concierge medicine isn't necessarily less work, but more satisfying work that allows them to build a more profitable practice. Unlike traditional doctors, a concierge physician builds up an income stream from patient contracts, much like the business of an insurance agent or retainer-based financial planner. That makes the practice potentially more profitable when it is finally sold. "Certainly they are much more in control of their own destiny," Blue says. "There's actual equity in the practice and the patients."
For patients, the much-touted benefit of concierge medicine is that the doctor has more time and can provide them greater access. Concierge doctors "have 80% to 90% fewer patients, so they can do other things that other physicians simply can't," Blue adds, such as house calls, email consultations, and more extensive exams and preventative tests that insurance won't cover.
Medex CEO, Paul Protzman commented, "we are very excited about the prospects of this prospective partnership and negotiations to date aimed at implementing this program. We are fortunate to be working with two very credible Physicians in the LA area and Merging Life. We look forward to reporting on further developments on this collaboration initiative."
About Medex Inc.
MedEx, Inc. is a publicly traded; California based medical support and services Company. It distributes quality Medicare – Accredited medical equipment and supplies to consumers, medical professionals and insurance carriers. The company's vision is to be a pre-eminent medical and equipment supply Company by providing products for people with disabilities, recovering from surgery, in rehabilitation facilities, nursing homes, assisted living centers and the elderly. For additional information please visit the company's website at http://www.21stsynergymedical.com/
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1955. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or "planned," "will," or "should," "expected," "anticipates," "draft," "eventually," or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
SOURCE Medex Inc.
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