MMRGlobal Inc., provider of online personal health records and electronic safe deposit box storage solutions, announced today that the company has reached an agreement with National Payment Provider, LLC, to place a minimum of 1,000 MMRPro systems in healthcare client offices through June of 2012. MMRPro is designed to give physicians’ offices an easy and cost-effective way to digitize paper-based medical records, providing patient access through a secure patient portal. (MMRGlobal serves the healthcare industry through its wholly-owned subsidiary MyMedicalRecords, Inc.)
National Payment Provider offers electronic payment processing solutions to healthcare professionals, ensuring compliance with paperless billing requirements imposed on the healthcare industry to begin later this year. Beginning in the third quarter, NPP will offer the MMRPro to healthcare professionals as part of its marketing and sales program covering a database of more than 168,000 billing clients. The company will offer a discounted MMRPro package to their clients based on the volume marketing agreement negotiated with MMRGlobal.
MMRGlobal projects revenues from the agreement (including deferred revenues) in excess of $13 million, not including patient upgrades. MMR estimates upgrades could add another $6.5 million in subscriber revenue over the first two years, a figure that should continue to increase every year as new patients upgrade and are added to the roles of existing patients.
MMRGlobal Chairman and CEO, Robert H. Lorsch, described what the agreement with NPP represents to the MMRGlobal’s long term goals. “NPP is already working with doctors’ offices, medical groups, and small hospitals to provide electronic paperless billing. It’s a logical extension for them to offer MMRPro as a solution to digitize paper-based patient records and share them with patients electronically on behalf of existing clients in the process of going to paperless billing. This way NPP becomes both a client’s digital payment processor and document imaging provider. Because of the number of physicians in NPP’s database they will offer MMRPro on a discounted basis to a minimum of 1,000 payment processing clients. This is an exciting opportunity for the Company and we look forward to it representing the beginning of a relationship where additional MMRGlobal products can be delivered to government, law enforcement agencies and other clients that NPP services.”
National Payment Provider founder and CEO, Alex Pitt, added, “The clock is ticking for the medical profession to become paperless over the next several years, and all of our clients will require the kind of services MMRGlobal offers. We are well situated to sell MMR’s products to our clients, who are, in fact, requesting this technology in order to be compliant with the government’s new regulations.”
For more information on MMRGlobal (also known as MMR Information Systems, Inc.), view the MyMedicalRecords website at www.MyMedicalRecords.com.