MMR Information Systems today described to investors the benefits of its MMRPro system for Electronic Medical Records (EMR). This system will utilize a proprietary, Kodak-branded architecture and will enable any medical practice, even small or mid-sized, to achieve standards in medical record computerization that qualifies them for funding under the American Recovery and Reinvestment Act (ARRA).
The entire MMRPro system should come in at under $20,000 over three years, a price point that trounces all competitors, as a typical EMR solution requires many times that much for only a single year. CEO and Chairman of MMRF, Robert H. Lorsch, quieted concerns raised last week in an article by the Washington Post that cited gross inconsistencies and inaccurate medications resulting from EMR systems by detailing the universality of the approach enabled by his Company’s MMRPro system.
Lorsch boldly proclaimed his Company’s commitment to resolving this situation through its software, saying that mistakes cited in that article “are not likely to happen with MMRPro”. Lorsh went on to insist that the MMRPro system represents a solution for over 85% of U.S. physicians, and would allow them to “enter the digital age” without changing the way they practice medicine.
Another point covered in the Post article was physicians’ dissatisfaction with existing EMR solutions and their implementation, which Lorsch easily dismissed by saying that the MMRPro system would not require any change of protocol, and yet would allow patients a complete copy of their patient file in real time, through any Internet-connected computer, using a secure Web-based portal. This same web portal would offer ease of use and IT implementation of MMRPro, permitting physicians’ practices to harness existing, standard computer systems.
The immediate market penetration potential of this new system is evinced by MMRF’s entry into the Chinese market via a subsidiary of Unisplendour Corporation, a leading Chinese IT firm. That subsidiary, Unis-Tonghe Technology (Zhengzhou) Co., Ltd., will roll-out the MMRPro system throughout China’s healthcare market, exploiting its relationship with the Chinese Ministry of Health to secure lucrative contracts within China in a variety of fields where digitized record keeping is highly sought after.
MMRF is a highly visible provider of secure, online Personal Health Records and electronic safe deposit box solutions via its wholly-owned subsidiary MyMedicalRecords, Inc. (MMR). Partnering with Kodak, one of the most recognized brands in the world, to offer the MMRPro system in direct response to prevailing concerns about personal privacy provides the company with a solution to the cost and difficulty of implementing such systems. As the entire industry moves from paper-based records systems to digital ones over the next few years, MMRF is poised to capitalize on specific demands from both consumers and medical professionals with its innovative MMRPro system.