Cytta Corp (CYCA)

[fast.money]

$CYCA & The Healthcare Reform Bill

The importance of the Healthcare Reform Bill just signed by President Obama making it a law could have a significant impact here with CYCA moving forward with the executing of their business objectives in a few different ways. The one thing that all investors should consider is the recently released PR by CYCA below…

Cytta Appoints Exceptional Vice President and Director to Coordinate Medical Project
http://finance.yahoo.com/news/Cytta-Appoints-Exceptional-iw-2198779498.html?x=0&.v=1
(from the CYCA PR above)… The Advanced Medical system is focused upon connecting leading edge home based medical diagnostic and testing equipment securely through any wireless device to the client's Electronic Medical Record portal. …

Importantly, to add, because CYCA will now be venturing off into the EMR world, CYCA will be in line for some huge funding support because the 111th Congress of the United States had granted to be mandated, through the American Recovery and Reinvestment Act of 2009, that all medical records must be electronically stored and save by the year 2014 or providers not in compliance will be faced with penalties.



http://www.reuters.com/article/pressRelease/idUS142454+06-Apr-2009+MW20090406
…Starting in 2011, $19 billion in net incentives will be paid to physicians who are "meaningful" EMR users. The incentives come in the form of increased Medicare and Medicaid payments to be disbursed over a five-year period and are not to exceed $40,000 to $44,000 per provider. Physicians who fail to become meaningful EMR users by 2015 may be subject to penalties. ...

Read below to see this Government mandate:
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf

Info above derived from link below:



http://www.whitehouse.gov/the_press_office/arra_public_review/

http://www.opencongress.org/bill/111-h1/show
…The final (conference) version of the American Recovery and Reinvestment Act of 2009 (H.R. 1) totals $787 billion in spending and tax cuts over the period of 2009-2019. …

http://www.nextgov.com/nextgov/ng_20090814_6118.php
(originally)
…Doctors and hospitals are slated to receive up to $17 billion in stimulus funds to help pay for health information technology systems. …