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Bought some July $3 calls today while they were cheap.(.44)
Magic
check out the question and answer board, there's been some discussion there about it, moderated by admins:
http://investorshub.advfn.com/The-Question-and-Answer-Board-504/
cabtwate, here's your answer from earlier today:
a1derfullife Thursday, January 24, 2013 1:43:18 AM
Re: pix post# 21870 Post # of 22073
The Kevetrin/sunitinib combination was used in a murine human xenograft model. In other words, they implanted and grew human cancers in mice with modified immune systems (so the mice wouldn't reject the human cells). The cell line refers to the specific type of human cancer cells used in the study.
Actually there is no after hours trading in ctix. It is just posted after the bell.
Add up all of the trades under $2.00 during the last hour of trading. You will find that this total almost exactly equals the last posted trade of 28xxx at $2.051, with the mm who put it all together pocketing the difference. Nice days work.
Magic
Time Price Volume Exchange
16:02:12 2.051 28370 OBB
16:00:01 2.00 860 OBB
15:59:45 1.99 640 OBB
15:59:04 2.00 534 OBB
15:58:02 2.00 5000 OBB
15:57:10 1.98 500 OBB
15:52:24 2.00 500 OBB
15:46:41 2.01 500 OBB
15:45:05 2.01 800 OBB
15:44:08 1.96 249 OBB
15:42:35 1.96 250 OBB
15:39:28 2.00 2000 OBB
15:39:16 2.01 2000 OBB
15:34:31 1.95 600 OBB
15:34:31 1.95 900 OBB
15:34:19 1.95 1500 OBB
15:31:59 1.95 500 OBB
15:31:50 1.94 400 OBB
15:31:33 1.94 1000 OBB
15:29:52 1.94 1000 OBB
15:28:42 1.93 2500 OBB
15:28:39 1.92 2000 OBB
15:27:55 1.92 1000 OBB
15:27:15 1.92 100 OBB
15:25:34 1.94 1000 OBB
15:25:16 1.94 400 OBB
15:24:14 1.94 200 OBB
15:22:56 1.96 1000 OBB
15:22:35 1.95 1000 OBB
15:22:35 1.95 500 OBB
15:22:35 1.95 1562 OBB
15:21:25 1.96 1280 OBB
15:20:59 1.96 100 OBB
15:20:55 1.96 900 OBB
15:20:42 1.96 900 OBB
15:20:39 1.95 100 OBB
15:20:31 1.96 100 OBB
15:20:29 1.96 320 OBB
15:20:23 1.96 500 OBB
15:20:22 1.96 1000 OBB
15:20:19 1.96 200 OBB
15:19:23 1.97 100 OBB
15:19:07 1.98 100 OBB
15:18:42 1.98 1800 OBB
15:18:33 1.98 2500 OBB
15:18:10 2.01 300 OBB
15:17:27 1.99 2000 OBB
15:17:25 1.99 2500 OBB
15:17:19 1.99 500 OBB
15:14:24 2.03 500 OBB
CTIX moving up again - new Seeking Alpha article with interview with CEO:
Q&A: Cellceutix CEO Leo Ehrlich - Future Billion-Dollar Anti-Psoriasis Compound
Link to full article
Over the last few months, Cellceutix Corporation (CTIX.OB) has been generating a steady and growing speculative buzz and an impressive stock price escalation to match. The key driver of this aggressive recent climb in share price has been the on-schedule progress of the company's flagship anti-cancer drug, Kevetrin, currently in Phase 1 clinical trials being conducted at Harvard's Dana Farber Cancer Center and partner Beth Israel Deaconess Medical Center.
With no evidence of any toxicity concerns so far, this novel and groundbreaking oncology compound has the potential to be a game changer for the next generation of cancer treatments across the globe. The successful completion of dosing for the first cohort in this trial, in addition to the approval of and beginning of dosing at elevated levels for a second cohort, have spurred investor confidence in the new drug candidate.
Kevetrin's impressive potential centers around its ability to activate the P53 gene, also known as "the guardian angel of the human genome." With this potent and revolutionary mechanism of action comes the potential to fire a powerful first salvo in the next generation war on multiple strains of advanced stage and current treatment resistant cancers. Given that nearly all cancers have p53 damaged in some manner, a drug of this caliber could have a very wide ranging and extremely lucrative financial reach that could add up to a massive 10 billion dollar (or even beyond) market cap if the human trial results are as robust as all the studies and years of extensive research have shown to date.
The majority of recent shareholder communication coming from Cellceutix has revolved around keeping investors updated with clinical trial news and any developments with the other planned trials for Kevetrin. The flurry of activity and positive developments surrounding Kevetrin has started to get more media coverage as interest and intrigue in the compound continues to grow as the clinical trial progresses. Investors are increasingly taking notice of this small biotech for the incredible potential for return on investment that their novel cancer compound can provide.
While Kevetrin has quickly started to gain notoriety and interest, there is yet another compelling compound developing in the considerably large shadow of Kevetrin that has done so relatively quietly by comparison. Cellceutix has yet another potential blockbuster compound that is currently ramping up production for FDA-approved phase 2/3 trials. Prurisol, the company's orally administered anti-psoriasis compound, is currently in production with Dr. Reddy's Labs (RDY) in India in preparation for a Proof of Concept 30-day clinical trial that will take place in Europe in early 2013.
Kevetrin's "little brother" Prurisol offers a potential billion dollar value in itself. This compound has so far in animal studies shown to be dramatically more effective for treating advanced psoriasis when compared to the standard of treatment today - methotrexate. Visually in lab testing, it eliminated all signs of psoriasis with no recurrence of symptoms. These results show great promise heading into human trials this spring, with the company clearly showing their confidence by choosing a double blind European study that consists of 30 days of dosing along with 30 days of follow-up. This strategy shows a sharp focus on advancing Prurisol through trials as rapidly as possible to help facilitate getting a potentially very lucrative licensing/acquisition valuation.
The fact that this second potential game changer has gotten relatively minor media coverage so far has perplexed me, so I contacted Cellceutix CEO Leo Ehrlich to request an interview to gain some insight regarding the potential and strategy behind Prurisol. I was fortunate enough to be able to have this opportunity to get an update on upcoming plans and future outlook for the company.
Here is the entire interview:
The Progressive: With all of the recent buzz surrounding Kevetrin, Prurisol has been advancing towards planned phase 2/3 clinical trials with relatively little fanfare. Can you provide some insight into what your strategy is for advancing Prurisol, and how it impacts the company in a broader context when taking into account all of the progress being made with Kevetrin?
Ehrlich: It's an astute observation to realize the pure value of Prurisol independent of Kevetrin when it comes to the valuation of Cellceutix. Many people overlook the value of this new drug candidate. When we saw the mice after treatment with Prurisol, there were no signs of psoriasis. Actually, it caught us a bit by surprise as Dr. Menon, our Chief Scientific Officer and co-founder, was very optimistic, but the results far surpassed anything we could have hoped for. But this is science and until you do the testing, any result is possible. There was no doubt we needed to advance this drug into human trials. A psoriasis drug with modest activity could generate $100 million in annual sales. An exceptional drug would generate many times that number. Our goal is to maximize shareholder value. That is why we are first doing a double blind Proof of Concept study. We have a high degree of expectation for this drug. It's important for our shareholders and others to understand the value of Prurisol. Should Prurisol prove itself in this trial, it will be a perfect complement to our flagship drug, Kevetrin.
You have frequently spoken of Kevetrin as being unique and novel due to its revolutionary mechanism of action that activates the P53 gene. What unique or compelling advantage does Prurisol offer over existing treatments or competing anti-psoriasis compounds that are also currently in clinical trials?
It is too early for us to compare Prurisol to other competing compounds in clinical trials. We do know the toxicity profile of Prurisol, but we don't know the profiles of the other drugs as they are not yet publicly available. What most impressed us about Prurisol in the animal studies was not simply that the psoriasis was visually eliminated, but that the psoriasis did not recur. There are many fine drugs out there to rid psoriatic lesions, but the results are temporary. Thereafter the individual will build resistance to the drug and it will become ineffective. Additionally, the problem with the biologic drugs is the potential for serious side effects. A new drug is urgently needed to help those suffering from psoriasis, which is a very uncomfortable and sometimes debilitating disease affecting millions of people in the U.S. alone.
Dr. Krishna Menon, the intellectual powerhouse behind the development of the compound, is widely respected for his keen ability to identify successful compounds in a crowded sea of possibilities. What compelled Dr. Menon to put his energy and innovative approach into Prurisol?
The idea for a psoriasis drug actually came from others and we licensed their compound. However it wasn't achieving the results we had hoped for. Cellceutix thereafter developed Prurisol. Once the patent is published, people will have a better understanding of our thought process in the development of Prurisol and how we accomplished making this new compound. At this time, we are keeping our intellectual property close to the vest until it is properly protected.
What gives you confidence that the dramatic results shown so far in your lab studies will be achieved in human testing?
Of course, things can be different in humans as compared to animal research, but by utilizing mice with compromised immune systems and human xenograph models, we replicated the conditions as closely as possible in the laboratory studies. This is a recognized methodology in animal models for preclinical testing. Also, Dr. Menon's decades' of experience and understanding of the chemistry of the drug and his knowledge of the pathology of the lab studies lends a great deal of validation and confidence heading into human trials.
Dr Reddy's Labs was your choice to synthesize and manufacture Prurisol in preparation for the upcoming clinical trial. What was the logic behind selecting Dr Reddy's for this process?
Dr Reddy's is the second largest drug producer in India. They are a New York Stock Exchange listed company with a market cap of over five billion dollars ($5,000,000,000). They are among the world's largest manufacturers of the starting active pharmaceutical ingredient in Prurisol. Therefore, their familiarity in producing a product such as Prurisol is second to none.
How close is Dr Reddy's to having the necessary quantities required for the trial? What are the advantages of having Dr Reddy's perform this production for Cellceutix?
We are now having Dr Reddy's produce enough material for our all needs through the Proof of Concept trial and a phase II/III trial. As of our recent meeting with them, production is on schedule for us to be ready for trials in the first half of this year as we planned. As I just mentioned, they are intimately involved with the active ingredient of Prurisol, which allowed them to shave several steps off the manufacturing process, saving both time and money. Dr. Reddy's produces medicines for many of the worlds largest drug manufacturers, names we are all familiar with. Their staff resources are enormous and complete with many PhD's available to work on our project. This depth gave us a high degree of comfort that this project will be successfully completed.
With phase 2/3 clinical trials planned in Europe, what is the time frame that shareholders can expect to receive further trial details on timing, location, and protocol?
We will begin with a Proof of Concept clinical trial that we are planning to start late March to early April 2013. After this trial is completed we intend to file an application with the US FDA for advanced clinical trials; more specifically, phase II/III trials in the United States in conjunction with EU trials. As we get closer to starting the PoC trials, the trial site in Europe will be posting all the relevant information about the trial. We too will update our shareholders at that time.
If the phase 2/3 trial is successful, what are your planned next steps for Prurisol? What do you feel will offer the best value for shareholders from a licensing/acquisition standpoint?
I believe you are referencing the initial Proof of Concept clinical trial, which we anticipate will be completed relatively soon. There are many possible scenarios based on the results of the trial. If the data is positive as we hope it will be, it's foreseeable that we should have any number of possibilities to take Prurisol further down the regulatory pathway. We could develop it on our own or entertain licensing agreements if the terms are acceptable to the company and our shareholders. If the results of the initial trial are unfavorable, we of course would have some decisions to make in that regard as well. Obviously, we have a high degree of expectations as we will have produced all of the drug needed for a phase II/III trial, but we are aware of all possibilities. It is simply a bridge that we will cross when we get there.
The recent announcement of the 10 million dollar financing arrangement negotiated with Aspire Capital was met with a positive reaction in the market. How does this additional financing impact your plans and strategy for moving Prurisol forward through clinical trials? Does this financing provide any advantages or leverage in later stage potential licensing/acquisition negotiations?
It certainly helps with advancing Prurisol, as well as Kevetrin in clinical trials. For any young company, arranging financing without giving away or heavily diluting the company is one the single, biggest obstacles to overcome. I could not be more pleased with the terms and the commitment from Aspire in our arrangement. It does give us some leverage in later clinical trials because we know that we have the capital to move forward on our own, meaning that we don't have to feel pressured to accept any potential partnering opportunities should they arise in the future.
With the new line of financing available, can you clarify for investors which of all of the ongoing and planned trials that will NOT have to be paid for by Cellceutix?
Well we are having numerous discussions at this time with several parties including university hospitals and the National Cancer Institute. There is no assurance that these discussions will result in clinical trials. That being said, I will give you the complete rundown as I am asked frequently to comment on this topic.
We have previously announced that we supplied Kevetrin to Beth Israel Deaconess Hospital for research in combination with Pfizer (PFE) drugs for melanoma and renal cancers. Currently, that research is undergoing laboratory testing and the results that have been shown to us have been very promising. I believe the researchers there will replicate the experiments to confirm the earlier results. Understand that Beth Israel Deaconess and their funding sources will be paying for any clinical trials and it is their decision to initiate those trials. Our responsibility was only to supply Kevetrin. On that point, it would seem likely that they would move forward with human trials based on promising preclinical research and the need for new drug candidates for those cancers, but I cannot speak for the hospital or its partners in that regard.
Regarding the clinical trials that are being hosted at the University of Bologna testing Kevetrin against Acute Myelogenous Leukemia, the hospital will be sponsoring the trials. Again, our obligation is only to provide Kevetrin for the trials.
We have signed a Non-Disclosure Agreement and plan to execute a Material Transfer Agreement shortly with one of the world's most prominent cancer research centers, located in the Southwest United States. The center approached us to test Kevetrin as a possible new therapeutic for myeloma. They have advised us that funding is in place and if Kevetrin meets their expectations that they will sponsor a clinical trial with our responsibility only to provide Kevetrin.
Finally, initial discussions with the National Cancer Institute and other university hospitals are underway, but these are still in the very early stages and I have no further details that I can disclose.
When considering both the rapid trial advancement and subsequent potential value of Kevetrin and Prurisol, do you see Cellceutix as a potential buyout target in 2013?
Of course as a major shareholder and CEO of Cellceutix I am hopeful to receive significant offers, but I won't speculate on that. As a company, we have our focus on advancing the clinical trials of Kevetrin and Prurisol. Only then we will know the true value of Cellceutix. I have been asked if I have sold any shares given the recent appreciation in share value. That information is readily available in our public filings, but the answer is, "No, I have not." What is appropriate for me and how I value my shares, may not be appropriate for others. This is biotech with an enormous amount of risk to one's investment, including mine, but I wanted to make that clear and take this opportunity to answer questions that I have been asked recently.
Thank you for your time during this busy time for Cellceutix. Do you have anything else you would like to share with shareholders as we prepare for 2013?
Cellceutix is determined to increase shareholder value and the most important component of that plan is our flagship anti cancer compound Kevetrin, which is unlike any other drug. However the importance of its sibling, Prurisol, should not be underestimated. I'd like to thank you for your time and for the commitment of all the shareholders of Cellceutix. I'd also encourage interested parties to visit our website to perform their due diligence on our company, including reading our recent recap of 2012 and expectations for 2013. Thank you.
Very wise conservation of ammo, imo. Let it fly at the next lull in the action.
Magic
OK, thanks. Welcome anyway.
Magic
Are you, per chance, from the Ft. Knox area, based on your moniker?
Magic
No worries Detonate - it's all in the public domain as far as I'm concerned. Not like I came up with something profound!! lol
Magic
Somebody just got hosed:
Time Price Volume Exchange
13:57:14 1.75 500 OBB
13:56:55 1.75 500 OBB
13:55:08 1.74 500 OBB
13:54:45 1.74 3000 OBB
13:54:13 1.74 200 OBB
13:53:58 1.74 100 OBB
13:53:49 1.70 1000 OBB
13:53:44 1.70 990 OBB
13:53:10 1.83 500 OBB
13:52:51 1.66 740 OBB
13:52:13 1.70 200 OBB
13:52:12 1.70 9800 OBB
13:52:10 1.65 46572 OBB
13:52:07 1.66 1700 OBB
13:51:56 1.70 1000 OBB
13:51:53 1.70 1000 OBB
13:51:53 1.70 1000 OBB
13:51:40 1.70 2500 OBB
13:51:35 1.70 290 OBB
13:51:34 1.71 100 OBB
13:51:24 1.72 5500 OBB
13:51:05 1.72 750 OBB
13:51:02 1.73 700 OBB
13:50:53 1.75 1000 OBB
13:50:38 1.75 4018 OBB
13:50:16 1.75 332 OBB
TOB, you said
"but it now sounds like there has to be perceived benefit confirmed by scans to continue to additional dosing cycles,"
I interpreted the email to say that the perceived benefit may include scans, but not necessarily so. Let's not read more into it than is there so we don't have unrealistic expectations.
Magic
I agree onn the $1 per share, and always have. I am holding.
Magic
Rape and pillage in the last 10 minutes:
Time Price Volume Exchange
16:01:03 2.15 4059 OBB
15:59:24 1.89 600 OBB
15:59:15 1.90 1400 OBB
15:59:13 1.90 100 OBB
15:56:01 1.95 2000 OBB
15:55:41 1.99 1000 OBB
15:55:36 1.99 4500 OBB
15:55:29 1.99 1500 OBB
15:55:21 1.99 3500 OBB
15:55:06 1.85 5057 OBB
15:55:04 1.85 4298 OBB
15:54:57 1.85 500 OBB
15:54:55 1.85 9200 OBB
15:54:27 1.82 252 OBB
15:54:09 1.85 3800 OBB
15:54:07 1.85 5000 OBB
15:54:02 1.85 2500 OBB
15:53:48 1.82 1500 OBB
15:53:48 1.82 500 OBB
15:53:48 1.82 500 OBB
15:52:53 1.81 4000 OBB
15:52:47 1.81 1000 OBB
15:52:38 1.85 400 OBB
15:52:36 1.82 1000 OBB
15:52:32 1.85 900 OBB
15:52:32 1.85 4100 OBB
15:52:32 1.85 5000 OBB
15:52:27 1.85 3000 OBB
15:52:27 1.85 1341 OBB
15:52:27 1.85 1000 OBB
15:52:27 1.85 500 OBB
15:52:25 1.89 1000 OBB
15:52:06 1.89 100 OBB
15:51:59 1.89 640 OBB
15:51:51 1.87 100 OBB
15:51:37 1.85 1500 OBB
15:51:34 1.87 1100 OBB
15:51:27 1.86 600 OBB
15:51:21 1.90 100 OBB
15:51:14 1.90 500 OBB
15:51:13 1.90 200 OBB
15:51:05 1.90 100 OBB
15:51:04 1.91 300 OBB
15:50:59 1.92 204 OBB
15:50:55 1.92 1500 OBB
15:50:54 1.93 100 OBB
15:50:51 1.93 1400 OBB
15:50:16 1.94 1000 OBB
15:50:01 1.95 660 OBB
15:49:50 1.95 500 OBB
Psoriasis is an autoimmune disease. It is my hope that if pruisol is effective against psoriasis, it may then be used to treat other autoimmune diseases, such as rheumatoid arthritis, which afflicts me. Needless to say, I am watching for the pruisol trial anxiously.
Magic
Thanks TOB. That was kinda my thinking as well. They wouldn't have stopped the bear raid till they got at least even. I am curious as to where the "one million short" folks are getting their info tho.
Magic
I keep seeing that "One million shares short" posted here. Where is that number coming from, please???
Thanks, Magic
Couldn't stand it any more. Added more at 1.87. What a steal!
Magic
Westeffer, thanks for the heads-up on CTIX!!!!
Magic
If the 42K at 1.80 was a sell, we could get a good run into the close.
Magic
Think the MMs will keep shakin the tree right up to the close. Have to still be short a bunch of shares. Doubt they will let it close over 1.85, but that's still one heck of a day for us!!!
Magic
MMs got caught short selling into the run up to 1.73. They had to bring it back down to cover the shares they were short and then stock some inventory to sell as it goes back up.
Remember how tiny the float is on this issue. Anytime volume hits like today, MMs are working without a net.
Magic
Now THAT was funny!!!!!!!!!!
Magic
"If that were to happen, what would happen to tumor sizing in Cohort 1 if they had been dosed at different levels in different time frames?"
What an excellent and intellegent question!! Goes to the optimum doesage issue. I can see where the cohort 1 folks would want the higher dosage. Guess maybe the optimum dosage question might have to wait for later testing stages??
Magic
OK, bought more at 1.44. Decided that was likely all the retrace I could count on. So now ya'll can really pull it back like usually happens to me. LOL
Magic
PS: Good to see so many familiar faces here!!
I think I starting to really like the licensing model. Real revenue potential with virtually no overhead. Not the original business plan, but it seems to be getting some legs.
jmo, Magic
Hello, farrell. Another friendly face here. It would be interesting to learn the different paths by which several of us have come to be here. Just starting to accumulate a posistion myself.
Magic
Thanks, Pepsiman. Lots of familiar faces here I see. Been following this one for a while, based on a heads-up from westeffer and umiak on different boards. Decided it was time to start a postion today. Lots of real possibilities here for sure.
Magic
The stock price isn't moving up because I now own shares. That is always a wet blanket on the price, just ask anyone.
Magic
Had to pay 1.04, but I'm in for a few.
Magic
now just a damn minute there hoss......
Offor hasn't done one thing to promote or help erhc, instead he is in bed with addax/sinopec on several deals through kaztec, blair and eland on the "producing niger delta properties". it appears he doesn't exactly care.
I'm still here, still with a "retireable" position. Not too excited by Chad, but it has possibilities. Kenya, on the other hand, has huge potential,imo, and takes me back to the JDZ pre-drilling days.
I have always recognized the high risk in this investment, while also seeing the high potential reward. Hangin in there!!!
Magic
I'M GREEN - FIRST TIME IN YEARS!!!!!!
Magic
From one KY guy to another, my b/e is 5.26, never thought I'd see it, but gettin hopeful now. Hangin in!!!
Magic
Presumably, any rights offering would be on a prorata basis.
Magic
It is their standing on the OTC - read about the tier system here:
http://www.otcmarkets.com/otc-101/investing-otc-security
Magic
Here's some info if you want to see just what the infringement possibilities are:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78226076
MMRF's patents are for processes, not software. Not unlike the processes that Google, Yahoo, etc all agreed to pay to settle out of court on today!!!
Magic
Very interesting reading EC. Thanks for posting the directions.
Magic
Only 26 percent of patients want to see their medical records go digital, a Harris Interactive report for Xerox revealed. Researchers say that more has to be done to educate patients about the benefits of digital health records.
Print Version Sponsored By
Although doctors are showing interest in using electronic health records (EHRs)—likely due to federal financial incentives—only 26 percent of patients want to see them used, according to research by Harris Interactive commissioned by Xerox.
Among respondents, 85 percent of patients expressed concern about digital medical records, Xerox reported.
For the third annual EHR online survey, Harris interviewed 2,147 U.S. adults in May 2012.
The number of respondents who indicated that they believed EHRs would improve care has held steady for the past three years at around 40 percent, according to the July 31 report.
John Moore, an analyst at Chilmark Research, had contrasting findings: "Consumers are not wary of their doctors using digital means to record health histories," he told eWEEK in an email. "In fact, most actually believe that they will receive better care—perception issue—if a doctor is using modern technology such as EHRs."
To improve patients' comfort with EHRs, education is key, according to Markus Fromherz, Xerox's chief innovation officer for health care.
"Education would be an important part of understanding how usually electronic health records are behind the firewalls of a hospital—that they're as secure as financial information, the bank account," Fromherz told eWEEK.
"Consumers are very concerned about security of their PHI [protected health information] and have every right to be," said Moore. "This industry has an atrocious record when it comes to securing PHI, and thankfully, the feds are finally getting serious about enforcement."
Negative press from health care data breaches may be contributing to patients' EHR concerns, according to Nancy Fabozzi, principal analyst for health care at Frost & Sullivan. "But I think these issues will subside with time," Fabozzi told eWEEK in an email. "We are still very early in the game for EHR use."
Privacy and security has long been known to increase patients' fear of EHRs. For its March 2011 report, CDW Healthcare found that 49 percent of patients surveyed believed EHRs would impact their privacy negatively.
Another issue patients have with EHRs is how doctors turn away to enter data on a PC. This practice can be obtrusive, said Fromherz. Mobile technology, such as tablets, have the potential to reduce this distraction, he noted.
"If there's one thing that this survey tells us, coupled with our own experiences, it's that you should never develop or deploy technology outside of the human context," Steve Hoover, CEO of Xerox's Palo Alto Research Center, said in a statement.
"Some patients may have had a negative experience with a provider using an EHR, for example when the provider seems to focus more on the computer than the patient," said Fabozzi.
"This has happened to me," she added. "It's a very alienating experience."
Patients may also need education on the benefits of EHRs, Fromherz suggested. The Xerox unit The Breakaway Group aids hospitals with training and adoption of EHRs.
Searching in a database instead of sorting through a stack of papers can be easier for providers. In addition, EHRs can lead to detection of allergies and drug interactions, Fromherz noted.
"Having that information available could save a life," said Fromherz.
"The digitization and exchange of data becomes more valuable with more
participants," said Fabozzi, referring to a "network effect." Patients and consumers have yet to see the benefits of EHRs or personal health records (PHRs) because "we haven't reached that tipping point," she said.
Just as physicians are motivated by federal incentives to implement EHRs, patients may eventually be presented with similar incentives to use PHRs and self-manage their care, Fabozzi suggested.
The Xerox data on patients contrasts with the view of physicians in July 17 findings by the Centers for Disease Control and Prevention's National Center for Health Statistics. The CDC organization revealed that 75 percent of physicians surveyed believed that their adoption of EHRs led to improved care.
"Doctors do not 'have religion' when it comes to adopting EHRs," said Moore. "It has simply become a necessary evil. They need to adopt EHRs of one form or another to remain competitive long-term."
At PARC, Xerox is developing ways that EHRs can simplify back-office and frontline processes as well as reduce medical errors.
In fact, Harvard researchers found that 84 percent of doctors they interviewed for a recent study would likely face fewer malpractice claims after using EHRs. The report was published on June 25 by the Archives of Internal Medicine.