TeleCommunication Systems Deploys New VirtuMedix™ Healthcare Platform to Improve Patient Care and Reduce Costs
Note: Comtech Acquired TCS on 2/23/2016
ANNAPOLIS, Md. and CHICAGO, Oct. 27, 2014 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today introduced VirtuMedix™, a highly secure, virtual collaboration platform designed for remote consultation of health care providers and patients. With the VirtuMedix platform, TCS addresses the rapidly growing market for video telemedicine solutions. Wake Emergency Physicians, PA (WEPPA), a North Carolina-based independent emergency medicine group, is the first to deploy the platform for improved patient care by its 136 emergency specialists who treat nearly 300,000 patients annually.
According to new research by Deloitte, 75 million "virtual" doctor visits, or 1 in 6 will occur this year alone. Frost & Sullivan forecasts that the video telemedicine market in North America will grow at a compound annual growth rate of 16.7 percent from 2012 to reach more than $600 million in 2017. This growth, according to the analyst firm, will intensify as telehealth initiatives align with the goals of the federal government and Accountable Care Organizations (ACOs) to reduce healthcare spending and improve quality of care to patients.
The VirtuMedix platform provides patients with an alternative to urgent care centers or emergency rooms for acute care situations. It also may be used in long-term care situations such as assisted living, rehabilitation centers, or chronic disease management.
Proven TCS technologies and expertise, including encryption, navigation, mapping and messaging further advance the capabilities of VirtuMedix.
Built in collaboration with WEPPA, VirtuMedix offers an innovative approach to patient management and clinician workflows that drive cost savings for both clinicians and patients, while helping to improve overall healthcare delivery to the patient.
HIPAA-compliant audio/video communication and information storage protects the privacy of patient information and allows physicians to consult securely with patients.
Simple user interface and toolsets make it easy for clinicians to view various on-call rosters and to manage patient volume.
Picture upload capabilities allow patients to securely share high definition images of their medical issues, such as a bite or rash, using a mobile device or web app.
The integration of ePrescribe capabilities expands physicians' clinical toolset, improving productivity and speed of care.
A simple electronic medical record system enables doctors to see patients' records, and enables patients to produce an invoice for insurance claims.
Multi-lingual patient care agents are available to assist patients with the consultation queue and provide information, such as health records.
Wake Emergency Physicians, PA (WEPPA), Dr. Bobby Park said: "WEPPA was looking for an off-the-shelf solution that could be tailored to the needs of our emergency medicine physicians and help us to stay in front of the many changes in the healthcare marketplace. TCS was the ideal partner to deliver innovative functionality that leapfrogs any offerings currently available, while building a platform that can be used in a variety of healthcare settings."
TCS Commercial Software Group President Jay Whitehurst said: "WEPPA physicians treat nearly 300,000 patients annually and are highly respected for their exceptional emergency care and their clinical leadership in advancing emergency medicine. Being a first-of-its-kind telemedicine solution, VirtuMedix is a natural fit with WEPPA, leveraging new technology to offer cost-effective and efficient care. It puts patients in greater control of their health and wellness, enabling easy and rapid access to healthcare in a way that fits with the patient's lifestyle. As a flexible platform providing important business benefits for healthcare providers, VirtuMedix changes the way healthcare is delivered by addressing market demand for immediate, patient-centric, mobile and web access to medical services anytime, anywhere and on any network connected device."
VirtuMedix™ provides caregivers and practitioners a highly secure and reliable telemedicine platform that delivers virtual health services anytime, anywhere, and from any device. Launched in 2014, VirtuMedix leverages TCS' telecommunications technologies, including over a decade of cyber security, wireless, and mobile application innovation, into a telehealth solution that integrates easily into healthcare networks, databases, and reimbursement models. In addition to providing expanded patient outreach, VirtuMedix reduces clinical and user healthcare costs while improving patient care. For more information on VirtuMedix, please visit www.virtumedix.com and on Twitter @VirtuMedix.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies, visit www.telecomsys.com.
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include those detailed from time to time in the Company's SEC reports, including the Annual Report on Form 10-K for the year ended December 31, 2013 and on Form 10-Q for the quarter ended June 30, 2014.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.
Media Contact for Comtech Telecommunications Corp.:
Michael D. Porcelain, Senior Vice President and Chief Financial Officer
(631) 962-7103 Info@comtechtel.com