"Collaboration Key to an Evolving Healthcare Industry"; Medix Healthcare Connectivity Summit Predicts Internet Will Lower Costs and Save Lives.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 28, 2000 Medix Resources, Inc. (AMEX AMEX See: American Stock Exchange : MXR MXR Mixer MXR Munxar (postal locality, Malta) MXR Mail Exchange Record ) and WellPoint Pharmacy Management, a wholly-owned subsidiary of WellPoint Health Networks Inc. (NYSE NYSE See: New York Stock Exchange : WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ), today announced that they successfully co-sponsored the first Annual Tahoe Summit on Healthcare Internet Connectivity at South Lake Tahoe, California South Lake Tahoe is a city in El Dorado County, California, in the Sierra Nevada Mountains. The population was 23,609 at the 2000 census. The east end of the city, on the California-Nevada state line, is mainly geared towards tourism, with T-shirt shops, restaurants, hotels, and , September 21-23, 2000. More than 60 healthcare industry representatives from approximately 35 organizations attended the three-day conference on healthcare Internet connectivity. Joan Herman, Group President of WellPoint Pharmacy Management, stated "WellPoint believes that the adept use of collaborative technologies will redefine relationships between benefits providers and physicians in a meaningful way. Therefore, WellPoint was delighted to co-sponsor the Summit with Medix Resources to further our efforts to create win-win relationships with our physician partners." Dr. David Skinner
David Skinner is an assistant managing editor at The Weekly Standard whose articles frequently appear in the magazine or on its Web site. , President Emeritus of the New York-Presbyterian Healthcare System and a Director of Medix Resources, Inc., opened the conference. He commented, "The practical application of information technology at the point of care is integral to the evolution of healthcare. Physicians and hospitals need to be more efficient. Information technology is the key to eliminating the vast resources wasted each year. Medix has a solution that will enable a collaborative business environment linking providers, payers and healthcare service organizations." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. attendee Ron Robinson Ron Robinson (born March 24, 1962 in Exeter, California) was a Major League Baseball right-handed pitcher for the Cincinnati Reds (1984-1990) and the Milwaukee Brewers (1990-1992). He was the first-round pick (19th overall) of the Reds in the 1980 amateur draft. of Axminster Medical Group, "The Tahoe Summit on Healthcare Internet Connectivity was engaging, enlightening and enjoyable. The topic was timely, the presenters were well informed and the location was fabulous. Internet connectivity and the resultant issues for healthcare providers are many. It is a pleasure to see a company such as Medix deal with the realities of the future and provide tangible solutions." Other highlights and topics discussed at the summit included: -- A presentation by UBS Warburg Managing Director Michael D. Clulow on the future of the healthcare Internet industry. -- How payers and providers forming a virtual digital community can achieve mutual and complementary benefits by cutting costs and saving lives. -- A demonstration of the Cymedix.com product suite including the hand-held solution it is developing with ParkStone Medical Information. The Company has created the next generation of code, which utilizes a Web client in conjunction with its patented Universal Interface (UI). The UI, which is being piloted in the field with the Company's first generation thick-client application, enables the seamless access to information contained in legacy software such as physician practice management applications. This information can then be packaged in discrete transactions and transmitted to health insurers, labs, pharmacies and hospitals to automate many of the manual processes that are so expensive and time-consuming. A complete product description is available on the www.cymedix.com Web site that was re-launched in conjunction with the Tahoe Summit. "Healthcare is a $1.5 trillion industry tolerating $400 billion of administrative and clinical waste every year," John R. Prufeta, President and Chief Executive Officer of Medix Resources, Inc. told the assembly of industry leaders. "We believe that collaboration among providers and payers is the key to rationalizing the structure and indeed the economics of the healthcare industry. In our opinion, a common connectivity platform linking healthcare providers, payers and other service organizations can not only generate tremendous value for these participants, but is also the missing link to a more cost-effective and higher quality healthcare system for all consumers." Mr. Prufeta commented, "This conference convened significant players in the healthcare industry for the expressed purpose of exchanging ideas and experiences, vetting what works and what needs further refinement in the healthcare connectivity arena. The speakers presented topics on important issues of the day including HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, and the Internet, point-of-care information systems, defining and building B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business healthcare transactions, and the Internet's impact on the future of healthcare. "Approximately 7,000 deaths occur every year in the U.S. due to medication errors. If doctors had complete patient information instantly at their fingertips "Fingertips" is a 1963 number-one hit single recorded live by "Little" Stevie Wonder for Motown's Tamla label. Wonder's first hit single, "Fingertips" was the first live, non-studio recording to reach number-one on the Billboard Pop Singles chart in the United States. , the incidence of medication errors would decrease dramatically," he added. "The high cost of administration in healthcare is directly attributable to the extreme fragmentation and antiquated state of information technology. In today's environment, the myriad of legacy systems simply cannot communicate information outside the enterprise, creating barriers to efficiencies that are enjoyed by virtually all other industries. In the healthcare industry, there are over 30 billion healthcare transactions per year, and only 2.5 billion are even semi-automated. This leaves a large market opportunity available for leaders in connectivity solutions such as Medix Resources that are able to work efficiently within the framework of this reality." About Medix Resources, Inc. Medix Resources, Inc. through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Cymedix Lynx Corporation is the developer and provider of the Cymedix.com(R) suite of fully-secure, patented Internet based software products, that will allow instantaneous communication of high value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. healthcare information among doctor offices, hospitals, health management organizations and insurance companies. Additional information about Medix Resources and its products and services can be found by visiting its Web sites, www.medixresources.com and www.cymedix.com, or by calling (800) 326-8773. About WellPoint Pharmacy Management WellPoint Pharmacy Management is the nation's leading health plan-owned pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. company serving approximately 22 million lives. WellPoint Pharmacy Management is the trade name of Professional Claim Services Inc., a wholly owned subsidiary of WellPoint Health Networks Inc. (NYSE:WLP). With complete pharmacy benefit management services for employers and health plans nationwide, WellPoint Pharmacy Management's products include, clinical management programs, drug formulary formulary /for·mu·lary/ (for´mu-lar?e) a collection of recipes, formulas, and prescriptions. National Formulary see under N. for·mu·lar·y n. management, claims processing, benefit design consultation, pharmacy network management, local network contract development, manufacturer discount programs, prescription drug prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, databases and utilization management. Additional information on WellPoint Pharmacy Management can be found online at www.wellpointrx.com, or by calling (800) 451-0433. Information in this press release contains forward-looking statements that involve risks and uncertainties that might adversely affect the Company's operating results in the future to a material degree. Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance the development of its software products, the effectiveness and the marketability of those products, the ability of the Company to protect its proprietary information, and the establishment of an efficient corporate operating structure as the Company grows. These and other risks and uncertainties are presented in detail in the Company's Form 10-KSB for 1999,and its Form 10-QSB for the second quarter of 2000, which were filed with the Securities and Exchange Commission on March 30, 2000, and August 10, 2000, respectively. This information is available from the SEC or the Company. This press release and prior releases are available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com |
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