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MMRGlobal Launches MyMedicalRecords Personal Health Record at Mickey Fine Pharmacy(May 04, 2012)
LOS ANGELES, CA -- (Marketwire) -- 05/04/12 -- MMRGlobal, Inc. (OTCBB: MMRF) ("MMR"), a leading provider of Personal Health Records ("PHRs"), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced that the Company will begin offering its MyMedicalRecords Personal Health Record at the iconic, Beverly Hills-based Mickey Fine Pharmacy chain beginning Thursday, May 10, 2012. Located in Beverly Hills for 50 years, Mickey Fine Pharmacy is considered by many to be the leading pharmacy -- and the only original pharmacy and soda fountain -- in the Los Angeles area, counting as its customers generations of movie stars, athletes, business leaders and politicians.
Starting May 10th, the program will offer a free 30-day MyMedicalRecords.com Personal Health Record account to thousands of Mickey Fine customers a month. Under the federal government's HITECH Act, patients need to be given timely electronic access to their personal health information by 2014. Mickey Fine is the first pharmacy in the nation to make a full-featured Personal Health Record available to customers to maintain all their medical records and other important documents in one safe online location and share them with all their doctors to help improve care and reduce healthcare costs. After the free trial period, customers have the option to keep the service for $9.95 per month.
There are more than 20,000 independent pharmacies in the U.S. that fill more than one billion prescriptions annually. It is estimated that if MMR can penetrate 2% of the independent pharmacies in the U.S., or 400 stores, and convert one customer per store per day, it would represent 146,000 active PHR accounts per year at $9.95 per user per month. The Company's sales strategy is to take advantage of partnerships with distribution channels like the independent pharmacists who can place MMR's product directly into the patient's hands and assist them in getting started by having their account auto-populating with their prescriptions.
Each MyMedicalRecords PHR account covers up to 10 family members, including pets, and incorporates a MyEsafeDepositBox to securely store other important documents such as advance directives and insurance policies, providing the convenience and peace of mind of having all of one's valuable documents stored in one safe location and accessible 24/7 from any Internet-connected device. A drug interaction tool is also included in each account to automatically check for adverse interactions between the medications the individual is taking, including over-the-counter drugs.
In addition, each MyMedicalRecords account includes an Emergency Login portal with a separate emergency password for each member of the family so that medical personnel can instantly access potentially life-saving information -- such as medications, allergies and blood type -- in an emergency or natural disaster while non-emergency medical data in an account remains protected from view.
According to Bob Lorsch, MMRGlobal CEO, "Having pharmacies as a point of distribution for a Personal Health Record is a logical distribution opportunity since the pharmacy is the last stop or collection point for all prescriptions from all doctors for most individuals. Once an account is populated with a few documents, attrition is less than 3%. Consumers stick with their MyMedicalRecords accounts. This provides an ongoing revenue stream for the pharmacy from both the initial sign-up and residuals for as long as an account is active."
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-use online Personal Health Records ("PHRs") and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, and professional organizations and affinity groups. The MyMedicalRecords PHR enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. MyMedicalRecords is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user's account. The Company's professional offering, MMRPro, is designed to give physicians' offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 antibodies and data and samples from its FavId/Specifid vaccine clinical trials for the treatment of B-Cell Non-Hodgkin's lymphoma. To learn more about MMRGlobal, Inc. visit www.mmrglobal.com. View demos and video tutorials of the Company's products and services at www.mmrtheater.com.
Any statements contained in this press release that refer to future events or other non-historical matters are forward-looking statements, and some can be identified by the use of words (and their derivations) such as "need," "possibility," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," "help" and "continue," or the negative of such terms and other comparable terminology. MMRGlobal, Inc. disclaims any intent or obligation to revise or update any forward-looking statements. These forward-looking statements are based on MMRGlobal, Inc.'s reasonable expectations as of the date of this press release and are subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The information discussed in this release is subject to various risks and uncertainties related but not limited to changes in MMRGlobal, Inc.'s business prospects, its results of operations or financial condition, current uncertainty and instability in financial and lending markets including global economic uncertainties, the risk the Company's products and services are not adopted or viewed favorably by the healthcare community, new programs and distribution channels for our products, the ability to establish and maintain strategic relationships, competitive product offerings and promotions, government regulation and changes in healthcare initiatives, maintaining, developing and defending our intellectual property rights, licensing and exploitation of our patent portfolio both in the U.S. and internationally; and such other risks and uncertainties as detailed from time to time in MMRGlobal, Inc.'s public filings with the U.S. Securities and Exchange Commission.
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