iMedicor Blog
Report Issued July 27, 2010
Download PDF - OSI Research
iMedicor (OTC: VMCI.OB) builds portal-based, virtual work and learning environments primarily in healthcare and related industries. The Company's solutions allow physicians use the Internet to exchange and share patient medical information and to interact with pharmaceutical companies and review information on new drugs offered by these companies at a time of their choosing.
Its products and services include iMedicor, a collaborative online portal designed for and by medical professionals to facilitate practice productivity and secure exchange of education, information, and ideas in real-time; iMedicor Integration Driver, an integrated software that allows an iMedicor user to communicate and transmit records and images across EMR system; and iMedicor ClearLobby, a pharmaceutical company-marketing platform that allows physicians to communicate directly with their pharmaceutical company certified sales representatives electronically.
The Company also offers iMedicor LiveAccess, a collaboration platform that delivers video, wideband audio, and a suite of Web collaboration tools in a single browser window accessible from PCs or laptops enabling organizations and individuals to work and learn virtually; iMedicor NuScribe, a voice-recognition driven document creation and management system that enables physicians to create and manage patient medical records online using voice recognition technology; and iMedicor CME Education Solutions, a service that delivers an educational experience for physicians, administrators, nurses, and other healthcare workers.
iMedicor is a full service network platform / portal for the healthcare sector which includes the features outlined below, summarized in video format at the Company's YouTube channel.
1.) an online social media / referral network for physicians, healthcare professionals, and patients to share personal health information
2.) free HIPAA-compliant email, secure messaging services for small and large clinics as well as hospitals
3.) an integration driver for use with Electronic Medical Records (EMR) and Personal Health Records, which currently exist largely on a stand-alone basis with incompatible technology platforms and an inability to communicate with each other
4.) free accredited CME courses for healthcare professionals to meet their continuing education requirements and stay informed with new product / device approvals and treatment options (such as the MuGard deal announced today with Access)
iMedicor offers a HIPAA-compliant solution for interoperable medical information transfer that is offered at no cost to physicians, healthcare providers, and patients. The iMedicor portal operates via secure messaging specifically designed to compliment clinical workflow, and it meets the requirement of President Obama's plan for an interoperable health information infrastructure and the conversion of all medical files from paper to electronic records by 2015. Using iMedicor, health information can be exchanged across disparate Electronic Health Records (EHR) systems to communicate, collaborate, and exchange medical records for referrals and patient communications.
The Company's business model is established on the three core strengths of its network, including:
1.) Physician Network: iMedicor has access to over 95% of physicians in the U.S., representing approximately 730,000 doctors and an associated 1.5 million support staff.
2.) Ease of Use and Level of Security: iMedicor's network provides complete seamless / encrypted interoperability between disparate EHR systems and provides full HIPAA-compliant security for encrypted document transmission - representing a disruptive technology with the potential to bring about much needed changes and improvements to the current system of EHRs which are not connected and do not communicate with each other.
3.) Medical / Social Networking: The network is designed as a physician-centric social network that is similar to Facebook or LinkedIn with a growing feature set of programs / applications that make it attractive to physicians. In addition, the portal / applications will be made available this fall on handheld devices with voice activation software. iMedicor also offers a full range of social networking services, specifically designed to support physicians such as specialized emails, advertising, blogging with peers, and referral network-building.
iMedicor's network also offers access to the nation's largest prescription refill service through a partnership with eRxNetwork which will be available over handhelds this fall and expanded to include e-prescribing and additional prescription networks. In addition, the Company's network includes a unique video library and a full-service CME offering.
iMedicor expects to make money by providing targeted marketing to this physician network for selected products from medical device / diagnostic and bio-pharmaceutical companies while also providing point-of-care disease management / medication adherence messaging on behalf of health insurance plans, pharmacy benefits managers and pharmaceutical companies. iMedicor can target specific physicians and deliver focused messages and content in an unobtrusive manner from a trusted source. The message content will offer a complete range of action items for the product being advertised while providing the physician with flexibility with regard to accessing the information presented and then measuring the outcomes / responses in real-time.
To date, there have been no internet based advertising programs that have produced an acceptable ROI to the industry and iMedicor expects to change this while targeting a significant market opportunity in the tens of billions of dollars for pharmaceutical advertising. The revenue model for iMedicor will be transaction-based or revenue-sharing with cash flow from early advertising models expected to begin during early 4Q09.