The Company will sell and/or license MyGenomics and telemedicine services as part of its suite of patented MyMedicalRecords Personal Health Record products and services and other IP. While genomic testing today costs as little as $200 for specific screenings, and $5,000 for complete sequencing, predictions are that by 2015 complete sequencing test costs will be reduced to as little as $500 available as a standard of preventive care.
As the healthcare system moves closer to Stage 2 Meaningful Use implementation, the growth of Personal Health Records is projected to parallel the adoption of Electronic Medical Record (EMR) systems by primary care physicians, which is significant. Currently, 42% of the U.S. population is keeping health records for themselves and their family while only 7% of Americans use online PHRs. MMR is positioned to benefit from the projected growth in PHR revenues as the Company currently has seven U.S. health IT patents: U.S. Patent Nos. 8,301,466; 8,352,287; 8,352,288; 8,121,855; 8,117,646; 8,117,045; and 8,321,240, as well as additional applications and continuation applications with nearly 400 claims. The patents involve inventions pertaining to Personal Health Records, Patient Portals and other Electronic Health Record systems. With MMR's patented technologies, the Company is positioned to benefit from the fact that many believe PHRs have the potential to change provider relationships, enhance patient-physician shared decision making, and enable the healthcare system to evolve toward a more personalized medical model. Medical information on the Web has made patients more aware of symptoms, diagnostic tests, diseases, and treatment options.
MMR also has Personal Health Record patents and pending applications in other countries of commercial interest including Australia, Singapore, New Zealand, Mexico, Japan, Canada, Hong Kong, South Korea, Israel, and European nations. Since the founding of MyMedicalRecords in 2005, the Company's patented products and services have grown in value and were the subject of a special report published on January 22, 2013, which concluded that the value of the MMRGlobal's U.S. HIT patent portfolio could reach between $600 million to $1.1 billion in revenue (http://michaelbass.com/PDF/Patent_Valuation.pdf).
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, retail pharmacies, 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 through an integrated patient portal. 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.
Most Popular Stories
- Twitter Names Woman to Board
- Aspen Contracting Adding 300 Jobs
- NSA Tracks 5 Billion Cellphone Records a Day
- Nelson Mandela Dies After Momentous Life
- U.S. Unemployment Rate Dips to 7 Percent
- Consumer Spending Rises, Incomes Fall
- Fast-Food Workers Want $15 an Hour
- Roybal-Allard Tours Gordon Brush Plant
- Ford Mustang Still Packs Power
- W.H. Corrects Itself on Unclegate