Ophthalmic Imaging Systems
SACRAMENTO, Calif.--(BUSINESS WIRE)--Ophthalmic Imaging Systems (OIS) (OTCBB:
OISI -
News) and Abraxas Medical
Solutions, Inc., a wholly-owned subsidiary of OIS and a provider of
state of the art Electronic Health Record (EHR) solution, commented on a
portion of the American Recovery and Reinvestment Act of 2009, the U.S.
Government’s stimulus package (the “Stimulus Package”), that pertains to
healthcare IT.
Estimates released by the Congressional Budget Office on February 13,
project that over $20 billion will be spent on financial incentives for
doctors who become meaningful users of a certified EHR solution by 2015
(see http://www.oisi.com/HR1/CBO.pdf for more information). Physicians who implement a solution and become
meaningful users between 2010 and 2012 will be eligible for $44,000 each
in incentive payments, and physicians who become meaningful users
between 2012 and 2014 will be eligible for lower payments. Physicians
who have not become meaningful users by 2014 will not qualify for any
payments. Additional information on this portion of the Stimulus Plan is
available at http://www.oisi.com/HR1/HR1.pdf.
“We believe the portion of the Stimulus Package that offers incentives
to users for utilizing a certified EHR solution has tremendous potential
to rapidly increase the user base of EHR solutions and improve the
quality of care and efficiency of our healthcare system. While many
medical professionals recognize the advantages that EHR solutions offer
their businesses and patients, the market’s adoption of these solutions
has been slow,” stated Gil Allon, CEO of Ophthalmic Imaging Systems. “We
are pleased that the Stimulus Package requires professionals to be
meaningful users of an EHR solution within the next five years and that
the solutions must be certified. We believe that these requirements will
ensure that our health system will receive the biggest gains in
efficiency through guaranteed interoperability and system use.”
“The timing of this stimulus package is especially fortunate for OIS and
Abraxas Medical Solutions, as we offer our CCHIT Certified® 2006
Ambulatory EHR, (Abraxas EMR version 1.0.3.0), along with practice
management solutions into five different medical specialties. While our
solutions have been well received in the market thus far, we anticipate
the Stimulus Package will create a significant increase in customer
demand. With a relatively short window of opportunity to take advantage
of these payments, we believe that the market will react to these
deadlines by implementing solutions early, so physicians can be
meaningful EHR users prior to the deadline.”
About Ophthalmic Imaging Systems
Ophthalmic Imaging Systems (www.oisi.com),
a majority-owned subsidiary of MediVision, is the leading provider of
ophthalmic digital imaging systems. The Company designs, develops,
manufactures and markets digital imaging systems and informatics
solutions for the eye care market. With over twenty years in the
ophthalmic imaging business, the Company has consistently introduced
new, innovative technology. Through OIS’ wholly-owned subsidiary,
Abraxas Medical Solutions, the company provides Electronic Medical
Records and Practice Management software to Ophthalmology as well as
OB/GYN, Orthopedic and Primary care. The Company, together with
MediVision, co-markets and supports our products through an extensive
network of dealers, distributors, and direct representatives.
About Abraxas Medical Solutions, Inc.
Abraxas Medical Solutions, Inc. (Abraxas) located in Irvine, California,
is a recently established, wholly-owned subsidiary of Ophthalmic Imaging
Systems (OIS). Abraxas focuses on developing and marketing electronic
medical records and practice management software to medical offices of
different specialties nationwide. Abraxas Medical Solution's EHR
software, Abraxas EMR Version 1.0.3.0, is a CCHIT Certified® 2006
Ambulatory EHR.
Statements in this press release which are not historical data are
forward-looking statements which involve known and unknown risks,
uncertainties, or other factors not under the Company's control, which
may cause actual results, performance, or achievements of the Company to
be materially different from the results, performance, or other
expectations implied by these forward-looking statements. These factors
include, but are not limited to, those detailed in the Company's
periodic filings with the Securities and Exchange Commission.
Contact:
Ophthalmic Imaging Systems
Gil Allon, CEO, or Ariel Shenhar, CFO, 916-646-2020
Investor Relations
or
KCSA Strategic Communications
Todd Fromer, 212-896-1215
Garth Russell, 212-896-1250