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MMRGlobal To Sign Agreement With National Payment Provider to Place 1,000 MMRPro Systems
Mmr Information Sys (BB) (USBB:MMRF)
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Today : Monday 21 June 2010
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MMRGlobal, Inc. (OTCBB: MMRF) (www.mymedicalrecords.com), announced today that the Company has reached an agreement with National Payment Provider, LLC ("NPP") (www.paymentprovider.com) to place a minimum of 1,000 MMRPro systems in healthcare clients' offices through June 2012. NPP provides secure electronic payment processing solutions to healthcare professionals to keep them compliant with paperless billing requirements imposed on the healthcare industry to begin later this year. Starting in the third quarter, NPP will offer the MMRPro end-to-end electronic document management solution for healthcare professionals as part of its marketing and sales program to their database of more than 168,000 billing clients. NPP will offer a discounted MMRPro package to NPP clients based on the volume marketing agreement negotiated with the Company.
MMRGlobal projects revenues (including deferred revenues) from the agreement in excess of $13 million, not including patient upgrades. Based on NPP's database, the Company expects to place MMRPro in offices with an average of 2.5 physicians, each with an average of 2,000 active patient charts, or 5,000 patients per MMRPro placement. MMRGlobal projects that doctors will upgrade an average of two patients per month to MMRPro's integrated patient portal, MMRPatientView, which could potentially add more than $6.5 million in subscriber revenue over the first two years and should continue to increase year-over-year as new patients upgrade and are added to roles of existing patients.
"NPP is already working with doctors' offices, medical groups, and small hospitals to provide electronic paperless billing. It's a logical extension for them to offer MMRPro as a solution to digitize paper-based patient records and share them with patients electronically on behalf of existing clients in the process of going to paperless billing," said Robert H. Lorsch, Chairman and Chief Executive Officer of MMRGlobal, Inc. "This way NPP becomes both a client's digital payment processor and document imaging provider. Because of the number of physicians in NPP's database they will offer MMRPro on a discounted basis to a minimum of 1,000 payment processing clients. This is an exciting opportunity for the Company and we look forward to it representing the beginning of a relationship where additional MMRGlobal products can be delivered to government, law enforcement agencies and other clients that NPP services."
According to Alex Pitt, Founder and CEO of National Payment Provider, "The clock is ticking for the medical profession to become paperless over the next several years, and all of our clients will require the kind of services MMRGlobal offers. We are well situated to sell MMR's products to our clients, who are, in fact, requesting this technology in order to be compliant with the government's new regulations."
Hector V. Barreto, a member of the Board of Directors of MMRGlobal, Inc., is also a member of the Board of Directors of National Payment Provider.
About MMRGlobal, Inc.
MMR Global, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. ("MMR"), 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. MyMedicalRecords 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. The MyMedicalRecords Personal Health Record 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. MMR is also an integrated service provider on Google Health. To learn more about MMR Global, Inc. and its products, visit www.mymedicalrecords.com and view the videos at www.mmrvideos.com.
About National Payment Provider
National Payment Provider, LLC ("NPP") provides electronic payment processing and merchant services for all types of businesses with a particular focus, on healthcare, government, insurance, and e-commerce accounts.
National Payment Provider operates on PCI DSS 1.2 compliant payment processing platform SystemPay. PCI DSS certification is a set of requirements imposed by payment networks (such as VISA, MasterCard, JCB, etc.) and designed to ensure that all companies that process, store or transmit credit card information maintain a secure environment. SystemPay security level has been created to exceed PCI DSS current standards and represents a key competitive advantage for the Company. SystemPay provides a managed technology and security infrastructure, payment applications, web services, and connections the TSYS, Elavon and First Data payment networks. The Company's technology includes credit and debit processing, virtual terminal, ACH and wire processing, real-time on-line merchant boarding module, recurring billing, closed loop issuing networks, underwriting and risk management applications. Modern technology allows NPP to provide its merchants with a variety of flexible and customized solutions that cannot be matched by other competitors operating on older mainframe technology. NPP is operating under its own BIN (Bank Identification Number) allowing the Company to directly acquire and process transactions with all major payment networks.
As innovators in secure processing platforms NPP brings experience and the ability to deliver unique commerce solutions. NPP's management is comprised of industry veterans and former high-ranking individuals from the Federal Bureau Of Investigation who have the expertise to provide clients with the maximum security and risk management solutions available in the industry. NPP's Mission is to offer the most sophisticated technology available in a highly secure and turnkey environment; to store and manage data, insuring that funds move accurately and securely, anytime, anywhere, and to provide exceptional service at unparalleled speed with a maximum security. National Payment Provider is located at 18881 Von Karman Avenue, 6th Fl, Irvine, CA 92612. Telephone: 1- 888 - 898-1608.
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