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InfoMedia (IM) has developed and is on the verge of securing patent rights for the Remote Medical Imaging (RMI) System (TM), a computer based prototype that transmits and stores full motion medical diagnostic images in real time over existing telephone lines. Thus far, there are no other systems of comparable technological capability on the medical telecommunications market, which is expected to grow to a $3 billion industry by 1999. As a pioneer in high resolution medical imagery, IM intends to be the first corporation to link this technology with the information super highway and other related networks.
The current state of the health care crisis, combined with advances in telemedicine and its wider acceptance throughout the medical community, has set the stage for the merging of business-oriented technology with medical applications. Furthermore, with the evolution of the National Information Infrastructure, greater attention is being focused on supporting high tech solutions for health care. These economic and political conditions combined create a climate extremely favorable for launching RMI. This revolutionary system offers cost-effective, time-saving solutions which can deliver the highest quality of video output to meet the stringent requirements of the medical community.
According to our conservative estimates, the current U.S. medical imaging market for IM's product consists in excess of 200 thousand potential customer sites, ranging from small physician offices to large teaching hospitals, to which multiple systems may be sold.
Largely in response to health care reform, hospitals, physicians, insurance companies and industry experts have been promoting the need for cost cutting technologies that can maximize efficiencies in their respective fields. This has had an impact on the provision of diagnostic testing procedures which have become increasingly high-tech, sophisticated and cost-prohibitive, ultimately governed by the health care provider's willingness to pay. Through bridging the gap between the patient and his or her access to care, InfoMedia has a viable role to play in developing alternative health care solutions. The RMI System offers a vehicle to effectively reduce the costs, time and effort needed to review diagnostic tests and allow for storage and retrieval of these images if so desired. At the same time, RMI maximizes the availability of medical services to a broader audience and frees up specialists who otherwise be required to travel to conduct their business. It will also reduce manual film creation, streamline the handling and processing of medical records, and improve overall patient care. Because it has been designed to integrate easily into any current medical administrative environment, RMI meets the flexibility, compatibility and ease-of-use requirements of the commercial user.
It is estimated that the RMI System can be cost effective with a return on investment of less than one year. This can be achieved through greater clinical efficiency and through the development of new business, which translates into to additional profitability for the customer. Our product adds value to existing operations and can potentially generate additional revenues for the client, be it a hospital or other care facility. The RMI System enhances the user's ability to manage information and extend radiological expertise to other hospitals, clinics and private practices. A radiology department can in effect be turned into a profit center with the addition of this new external business. For smaller hospitals and clinics, the RMI System will significantly reduce the need to have radiologists on site and eliminate the strain of transferring the patient to a major facility.