This total network solution will position MediXall in front of many commercial group health plans & self-insured employers, creating a new high-margin revenue stream for the Company
FORT LAUDERDALE, FL, April 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- MediXall Group Inc., MDXL, a technology and innovation-driven organization focused on reducing healthcare costs and transforming the patient-provider experience, is pleased to announce that it has entered a partnership to join the nation's first behavioral health opioid and substance use Network.
MediXall will be teaming up with CoreChoice, MINES and Associates, and LifeWIRE Group to provide the first PPO network for a comprehensive behavioral health program as well as a solution to combat the nationwide opioid and polysubstance use epidemic. The network contains 24,000 providers nationwide consisting of inpatient treatment centers, outpatient treatment centers, physicians, behavioral health specialists, and labs. This integrative network is contracted with aggressive discounts ranging between 50-80% OFF billed charges and can be set up based on each specific client's needs and protocols. Combined with MediXall.com's partnership with a national based laboratory, it will provide exceptional quality testing products and service at the lowest price point to clients that participate in the network. Additionally, the program is designed to service the commercial group health and the workers' compensation insurance sectors.
"Tackling the opioid crisis requires coordination across health plans, provider networks, PBMs, pharmacies, providers, employers, and many other constituents. This is a complex problem that goes beyond what any one group can influence. This integrative approach will provide the means by which someone is finally addressing the substance abuse problem and associated high-costs of treatment," said Michael Swartz, President of MediXall.com.
For self-insured employers, as well as companies in the commercial group health and the workers' compensation insurance sectors, the network will ensure strict protocols for evaluation and treatment, complete monitoring and tracking of prescription and lab results, and transparency between results and patient claims. This will include treatment for patients who are addicted to opioids, stimulants, central nervous system depressants, alcohol, illicit substances, as well as other prescription and over-the-counter drugs. As many of these patients also have underlying behavioral health issues, the network will also be able to provide treatment for depression, anxiety, stress, post-traumatic stress disorders, detoxification and other related problems.
The program is structured with two different program levels. There will be a typical PPO model for the repricing of bills as well as a true managed care model. The managed care model will allow for direct referral to a Network Care Coordinator who will be able to place the patient in the appropriate treatment setting, get initial comprehensive and interim evaluations, and monitor results. Claims will be handled through the CoreChoice Electronic Data Interface technology. Managed care processes will utilize MINES' integrated case management protocols and the behavioral health opioid and substance use Network will use MINES' specialty network.
While individuals and communities across the country are struggling with prescription opioid misuse, addiction, and overdose, this health crisis has made its way into our workplaces. Approximately 75 percent of those suffering from a substance use disorder are in the workforce, and employers are beginning to feel the effects. According to a recent nationwide survey released by the National Safety Council, 71 percent of employers said they are directly impacted by prescription drug misuse in their workplaces. Common issues include absenteeism, increased costs, decreased productivity, on-the-job injuries and fatalities, and even employee arrests.
The reality is that healthcare costs for employees who misuse prescription drugs are three times the costs for an average employee. In fact, according to the Centers for Disease Control and Prevention (CDC), in 2013 alone, prescription opioid dependence, abuse, and overdose cost the United States $78.5 billion. More than one-third of this amount—$29 billion—is due to increased healthcare and treatment costs.
Swartz added, "We believe being selected to participate validates the need for MediXall.com's discounted and transparent pricing. In addition to creating and activating a new high-margin revenue stream for MediXall.com, participating in this total network solution will position MediXall.com in front of many commercial group health plans as well as self-insured employers."
About MediXall.com: Medixall.com is a new generation healthcare marketplace platform designed to address the growing need of self-pay and high deductible consumers for greater transparency and price competition in their healthcare costs. The MediXall.com platform makes scheduling an appointment for specific healthcare services as simple and easy as booking a flight and hotel. The online experience was designed to mirror e-commerce and online booking sites found in other markets, with it centered on providing consumers with ratings/reviews, transparent pricing, and comparative shopping. With MediXall.com, consumers can search and compare most medical, dental and wellness services based on all-in cash price, location/distance, ratings, & availability, and select the best value according to their personal preferences. In this era of rapidly increasing deductibles and healthcare costs, the cloud-based platform is designed to be transformational and disruptive to traditional methods of medical care and provisioning of medical services to the consumer. For more information, please visit www.medixall.com or call (954) 908-3481.
About MediXall Group, Inc.: MediXall Group is a technology and innovation-driven organization purposefully designed and structured to bring effective change to the U.S. healthcare industry that is actively trading on the OTCQB under the symbol "MDXL." The Company believes its revolutionary approach will help drive much-needed change that it envisions is needed in the current healthcare system. The mission of the MediXall Group is to revolutionize the medical industry by improving communication; providing better technology and support services; and enabling more efficient, cost-effective healthcare for the consumer. By approaching the healthcare ecosystem as a whole, MediXall creates, invests and incubates companies that embody its mission statement. For more information, please visit www.medixallgroup.com or call (954) 908-3481.
About CoreChoice, Inc.: CoreChoice, Inc. the only specialty network for radiology, interventional pain management, and medical air transportation services whose mission is to reduce unnecessary health care costs through a variety of functions of health insurance, delivery of care, and administration, including our noteworthy specialty network Exclusive Provider Organization (EPO) program that is customized for each client's needs. CoreChoice services the commercial group health, workers' compensation, and auto liability insurance sectors. Our clients include cost management companies, PPO groups, third-party administrators (TPA), self-insured entities, employer group, and government organizations. More information is available at www.corechoice.net or by calling 561- 756-9110.
About MINES and Associates: For over 37 years MINES & Associates has been a nationally recognized, award-winning business psychology firm that provides a variety of services to employers including employee assistance programs (EAP), managed behavioral healthcare, organizational development services, wellness programs, behavioral risk management, disease management, PPO services, and other behavioral health programs serving a diverse portfolio of clients nationwide. Please visit www.minesandassociates.com for more information on MINES.
About LifeWIRE (http://www.lifewiregroup.com): LifeWIRE operates throughout North America with offices in Richmond, Virginia and Toronto, Canada. Providing a secure and interactive communication engine and population management tool through the LifeWIRE platform, organizations are able to communicate with individuals under their care anywhere, at any time, through any device. For the individual, it means they can engage when they want, how they want, about what and with whom they want at any time. As valuable as the two–way response is to the organization and the individual, it is the ‘non-response as a response' that is also monitored and equally valuable. All LifeWIRE interactions are recorded and validated to FDA audit standards, tracked on a date/time basis, and managed by our clients. Captured data is used for advanced analytics that includes customer engagement levels, customer behavior, service, and operational levels, performance measurement, and predictive modeling.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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