OTI to Generate Revenues on MediSmart Hardware, Software and Licensing Fees
CUPERTINO, Calif., Feb. 17 /PRNewswire-FirstCall/ – On Track Innovations Ltd., (OTI) (Nasdaq: OTIV; Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card systems, announced today that they have been awarded a contract to provide MediSmart contactless smart cards, readers, support and maintenance to CareCross medical and dental network providers and managed care patients.
The initial hardware installations in healthcare facilities are scheduled to begin early in the second quarter and card distribution will begin thereafter. The first MediSmart cards will be issued to chronic care patients or patients that utilize long-term treatments and medications. Under the terms of the contract, OTI will generate revenues on MediSmart hardware, software and licensing fees. During MediSmart’s eight month pilot program, use of the MediSmart solution reduced CareCross call center calls by 95% resulting in tremendous savings in both treatment time and call center costs.
CareCross Health is the leading primary healthcare provider in South Africa contracting the first 150,000 members and a network of over 1,000 contracted healthcare or service providers in this emerging market. Through its network of healthcare professionals, CareCross provides affordable and quality services to members of health care plans that serve individuals and families who cannot afford traditional private insurance coverage. Based on government estimates, there is an emerging market of 13 million managed care patients in the private sector in South Africa
Dr Reinder Nauta, the Managing Director of CareCross Health, who recently announced the establishment of OneCare Health, whose network of no less than 3500 service providers aim to service medical plans or funds whose products are targeted at middle income earners, stated that “The OTI MediSmart solution enables CareCross to manage its risk more effectively and to reduce its reliance on its call center infrastructure. As the number of patient groups increase, the effective communication of guidelines and protocols to manage such patients becomes a necessity and the OTI MediSmart solution serves as the ideal communication medium between CareCross and its service provider sites.”
“We are extremely proud to be associated with CareCross, a recognized leader in the health care sector, and are confident that the MediSmart implementation will provide recognized benefits in terms of cost reduction, increasing efficiency and reliability of the services provided” says Charlotte Hambly-Nuss, Managing Director of OTI Africa.
The OTI MediSmart solution is part of OTI’s SmartID product family and provides verification of patient, physician and patient benefits. The OTI MediSmart product includes:
* A personal identification, biometric authentication and additional
personal data sections which are secured via biometric verification
without the need for a mainframe or database of any kind.
* A medical benefit, risk and management data section, which are only
accessible by healthcare professionals, for better management. In
addition, to facilitate better communication between healthcare
professionals MediSmart holds files for referrals, medical
certificates and messages.
* A payment portion, that enables e-purse and credit and debit payments.