HAUPPAUGE, N.Y., Jan. 20, 2010 (GLOBE NEWSWIRE) -- Patient Access Solutions, Inc. (Pink Sheets:PASO), an emerging provider of healthcare/financial processing technologies that provide the healthcare industry a graceful migration to Electronic Medical Records (EMR), today announced it will be introducing several new initiatives to further enhance its positioning within the home health care market. These initiatives will include strategic product alliances with leading technology providers and enhancements to existing product lines in order to meet the unique demands of the home health care market.
“Through our ongoing relationship with Americare Inc., we have gained considerable experience integrating our D-PAS digital pen technology, based on Anoto technology, to improve the efficiency and reporting needs of both the home care industry and payer communities. The many advantages of streamlining the traditional paper process, while simultaneously improving productivity in the home health care industry, are very clear and we believe there is considerable opportunity for Patient Access Solutions to expand upon the strong progress we have already realized,” commented Bruce Weitzberg, CEO/President of Patient Access Solutions. “Over the coming weeks, we will be making some exciting announcements about our expanding opportunities in this highly lucrative market.”
Home healthcare in the United States alone is a $55 billion annual industry, according to First Research, Inc., with the $1.2 trillion U.S. healthcare industry projected to grow approximately 400% over the next few years. Of this amount, nearly one quarter of these costs are administrative, with IT costs alone exceeding $25 billion and expected to increase by over 10% per year as hospitals, insurers and government agencies seek new technology solutions to reduce administrative expenses and enhance system efficiencies. These trends point toward the increased use of advanced, cost saving information technology platforms such as those provided by Patient Access Solutions.
About Patient Access Solutions, Inc.
Patient Access Solutions, Inc. (PAS) is a Healthcare Solutions Company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare information technology environment. The Company's products are designed to allow health care providers an easy migration to the EMR environment. Among these products are D-PAS, which is a state-of-the-art digital pen and paper technology based on Anoto technology, used to capture hand written information into digital forms and EMR systems and PAS Data Center, which is a terminal solution that allows health care providers to quickly and easily determine benefit eligibility. More information on Patient Access Solutions, Inc. and its products can be viewed at www.pashealth.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.