LOS ANGELES, CALIFORNIA, April 7, 2015 (GLOBE NEWSWIRE) -- GTX Corp. (OTCBB: GTXO), a pioneer and global provider of personal location wearable technologies, announced that its flagship GPS SmartSoles have been approved for 100% reimbursement under the Medi-Cal program. Medi-Cal is California's Medicaid program, financed equally by the State and Federal government which provides a public health insurance program and health care services for low-income individuals and families who meet defined eligibility requirements. The Medi-Cal program includes 58 county public social services agencies and 21 regional centers.
"Receiving our first State and Federal funded reimbursement code for this product is a significant step forward for us," commented Patrick Bertagna, Chief Executive Officer of GTX Corp. "With the retail price of the GPS SmartSoles and monthly monitoring service having been approved as reasonable and customary, eligible individuals will be able to obtain our GPS SmartSoles and service under the program with no cash out of pocket. The ability to offer GPS SmartSoles to the public who needs them without cost being an issue is important for us and the current 11.3 million Californians, roughly 30% of the State's population, enrolled in the program. This is a game-changing catalyst for GTX, and should open the doors wide open to the millions of people who need this solution but otherwise could not afford it and represents a first in many steps to have the GPS SmartSoles covered by other State funded programs, private insurance, and ultimately by Medi-Care."
The wearable but not visible, stigma free GPS SmartSoles were designed to assist caregivers of persons with Alzheimer's, dementia, autism, and other cognitive memory disorders in tracking their loved ones in the event that they wander off, while preserving their dignity and safety by not branding them with a visible bracelet or pendent. The GPS SmartSole is a shoe insole that has been designed with the latest GPS and cellular tracking technologies, enabling a caregiver to know the whereabouts of their loved one with a click of a mouse or push of a button.
GTX Corp has become an approved vendor across all twenty-one Regional Centers under the Department of Developmental Services as part of the State of California Health and Human Services Agency Medi-Cal program. As part of an ongoing initiative for staff members of these twenty-one regional facilities to become more aware of the products and services made available to the community, GTX Corp has been invited to attend The Westside Regional Centers Semi-Annual Staff Resource Day on April 30, 2015 to demonstrate and familiarize their staff with the GPS SmartSoles and their benefit to the community.
Anthem Blue Cross Partnership Plan and Anthem Blue Cross also administers a Medi-Cal program for the California Department of Health Services. Anthem Blue Cross is contracted with L.A. Care Health Plan to provide Medi-Cal Managed Care Services in Los Angeles County. Anthem's program's primary features include improved access to care, an emphasis on prevention, increased provider participation, a shift from episodic to primary care, and premier customer service, a design that has become the foundation for their programs in other states.
GTX Corp (GTXO) is a pioneer in wearable technology and a leader in enterprise 2 way GPS real-time personal location based services. Headquartered in Los Angeles, California, GTX began marketing its SmartSoles less than a year ago and already has distribution in 9 countries. The Company is known for its game-changing and award-winning patented GPS Smart Shoe, blockbuster Smartphone GPS Tracking App, and innovative GPS SmartSole, GTX provides solutions that answer the "where" question: where is my mother, child, employee, vehicle, drone and high value assets.
Through a robust global enterprise monitoring platform and licensing subscription business model, the Company offers a complete end to end solution of location based hardware, middleware, apps, connectivity and professional services. Letting you know where or how someone or something is at the touch of a button, delivering security and peace of mind in an instant. GTX Corp also owns and operates LOCiMOBILE, Inc which develops applications for smart phones and tablets and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copy rights and URL's and was recently featured in a 38 page research piece which outlines the value proposition of the Company's IP portfolio.
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases "expects", "would", "will", "believes", and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by GTX in light of its experience and its perception of current conditions and expected future developments, as well as other factors that GTX believes are appropriate in the circumstances. Many factors could cause
GTX's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are set forth in GTX's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained at http://www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on GTX's forward-looking statements. GTX has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.