KCSA
PUBLIC RELATIONS
WORLDWIDE News
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Public & Investor Relations, Corporate & Marketing Communications
FOR: MEDIX RESOURCES, INC.
CONTACT: John R. Prufeta, President and CEO
(212) 697-2509
(212) 681-9817 (fax)
[email protected]
KCSA INVESTOR Sarah Shepard / Elena Bonaiuto
CONTACTS: (212) 896-1236 / (212) 896-1233
(212) 697-0910 (fax)
[email protected] / [email protected]
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KCSA MEDIA Jessica Gates / Kevin Rini
CONTACTS: (212) 896-1229 / (212) 896-1292
[email protected] / [email protected]
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FOR IMMEDIATE RELEASE
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"COLLABORATION KEY TO AN EVOLVING HEALTHCARE INDUSTRY"
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Medix Healthcare Connectivity Summit Predicts Internet
Will Lower Costs and Save Lives
NEW YORK, September 28, 2000 - Medix Resources, Inc. (AMEX: MXR) and
WellPoint Pharmacy Management, a wholly-owned subsidiary of WellPoint Health
Networks Inc. (NYSE: WLP), today announced that they successfully co-sponsored
the first Annual Tahoe Summit on Healthcare Internet Connectivity at South Lake
Tahoe, California, September 21-23, 2000. More than 60 healthcare industry
representatives from approximately 35 organizations attended the three-day
conference on healthcare Internet connectivity.
Joan Herman, Group President of WellPoint Pharmacy Management, stated
"WellPoint believes that the adept use of collaborative technologies will
redefine relationships between benefits providers and physicians in a meaningful
way. Therefore, WellPoint was delighted to co-sponsor the Summit with Medix
Resources to further our efforts to create win-win relationships with our
physician partners."
Dr. David Skinner, President Emeritus of the New York-Presbyterian
Healthcare System and a Director of Medix Resources, Inc., opened the
conference. He commented, "The practical application of information technology
at the point of care is integral to the evolution of healthcare. Physicians and
hospitals need to be more efficient. Information technology is the key to
eliminating the vast resources wasted each year. Medix has a solution that will
enable a collaborative business environment linking providers, payers and
healthcare service organizations."
According to attendee Ron Robinson of Axminster Medical Group, "The
Tahoe Summit on Healthcare Internet Connectivity was engaging, enlightening and
enjoyable. The topic was timely, the presenters were well informed and the
location was fabulous. Internet connectivity and the resultant issues for
healthcare providers are many. It is a pleasure to see a company such as Medix
deal with the realities of the future and provide tangible solutions."
Other highlights and topics discussed at the summit included:
o A presentation by UBS Warburg Managing Director Michael D. Clulow on the
future of the healthcare Internet industry.
o How payers and providers forming a virtual digital community can achieve
mutual and complementary benefits by cutting costs and saving lives.
o A demonstration of the Cymedix.com product suite including the hand-held
solution it is developing with ParkStone Medical Information. The Company
has created the next generation of code, which utilizes a Web client in
conjunction with its patented Universal Interface (UI). The UI, which is
being piloted in the field with the Company's first generation thick-client
application, enables the seamless access to information contained in legacy
software such as physician practice management applications. This
information can then be packaged in discrete transactions and transmitted
to health insurers, labs, pharmacies and hospitals to automate many of the
manual processes that are so expensive and time-consuming. A complete
product description is available on the www.cymedix.com Web site that was
re-launched in conjunction with the Tahoe Summit.
"Healthcare is a $1.5 trillion industry tolerating $400 billion of
administrative and clinical waste every year," John R. Prufeta, President and
Chief Executive Officer of Medix Resources, Inc. told the assembly of industry
leaders. "We believe that collaboration among providers and payers is the key to
rationalizing the structure and indeed the economics of the healthcare industry.
In our opinion, a common connectivity platform linking healthcare providers,
payers and other service organizations can not only generate tremendous value
for these participants, but is also the missing link to a more cost-effective
and higher quality healthcare system for all consumers. "
Mr. Prufeta commented, "This conference convened significant players in
the healthcare industry for the expressed purpose of exchanging ideas and
experiences, vetting what works and what needs further refinement in the
healthcare connectivity arena. The speakers presented topics on important issues
of the day including HIPAA and the Internet, point-of-care information systems,
defining and building B2B healthcare transactions, and the Internet's impact on
the future of healthcare.
"Approximately 7,000 deaths occur every year in the U.S. due to
medication errors. If doctors had complete patient information instantly at
their fingertips, the incidence of medication errors would decrease
dramatically," he added.
"The high cost of administration in healthcare is directly attributable
to the extreme fragmentation and antiquated state of information technology. In
today's environment, the myriad of legacy systems simply cannot communicate
information outside the enterprise, creating barriers to efficiencies that are
enjoyed by virtually all other industries. In the healthcare industry, there are
over 30 billion healthcare transactions per year, and only 2.5 billion are even
semi-automated. This leaves a large market opportunity available for leaders in
connectivity solutions such as Medix Resources that are able to work efficiently
within the framework of this reality."
About Medix Resources, Inc.
Medix Resources, Inc. through its wholly owned subsidiary Cymedix Lynx
Corporation is the developer and provider of the Cymedix.com(R) suite of
fully-secure, patented Internet based software products, that will allow
instantaneous communication of high value added healthcare information among
doctor offices, hospitals, health management organizations and insurance
companies. Additional information about Medix Resources and its products and
services can be found by visiting its Web sites, www.medixresources.com and
www.cymedix.com, or by calling (800) 326-8773.
About WellPoint Pharmacy Management
WellPoint Pharmacy Management is the nation's leading health plan-owned
pharmacy benefit management company serving approximately 22 million lives.
WellPoint Pharmacy Management is the trade name of Professional Claim Services
Inc., a wholly owned subsidiary of WellPoint Health Networks Inc. (NYSE:WLP).
With complete pharmacy benefit management services for employers and health
plans nationwide, WellPoint Pharmacy Management's products include, clinical
management programs, drug formulary management, claims processing, benefit
design consultation, pharmacy network management, local network contract
development, manufacturer discount programs, prescription drug databases and
utilization management. Additional information on WellPoint Pharmacy Management
can be found online at www.wellpointrx.com, or by calling (800) 451-0433.
# # #
Information in this press release contains forward-looking statements that
involve risks and uncertainties that might adversely affect the Company's
operating results in the future to a material degree. Such risks and
uncertainties include, without limitation, the ability of the Company to raise
capital to finance the development of its software products, the effectiveness
and the marketability of those products, the ability of the Company to protect
its proprietary information, and the establishment of an efficient corporate
operating structure as the Company grows. These and other risks and
uncertainties are presented in detail in the Company's Form 10-KSB for 1999,and
its Form 10-QSB for the second quarter of 2000, which were filed with the
Securities and Exchange Commission on March 30, 2000, and August 10, 2000,
respectively. This information is available from the SEC or the Company.
This press release and prior releases are available on the
KCSA Public Relations Worldwide Web site at www.kcsa.com
