SOURCE: BIO-key International, Inc.

BIO-key International, Inc.

January 07, 2016 11:05 ET

BIO-key Introduces "EASE" CSP - Compliant Enrollment Identity Assurance Service for ePrescribing

ePrescribing ID Proofing and Hosting for Healthcare Organizations at Significant Cost Savings

WALL, NJ--(Marketwired - Jan 7, 2016) -  BIO-key International, Inc. (OTCQB: BKYI), a leading biometric identification and authentication technology provider, reported that the company has enhanced its offering of secure biometric authentication with the addition of robust identity proofing services and optional hosted authentication services in partnership with HealthIDx, a federal standards-compliant Credential Services Provider (CSP). This enhancement significantly expands the markets for BIO-key's authentication products, and will allow many more health systems to avail themselves of BIO-key's superior user experience for ePrescribing authentication. While the immediate beneficiaries are in healthcare, non-healthcare market customers can also leverage BIO-key's identity proofing service to ensure positive identity of enrolled individuals into their BIO-key applications.

"We're excited to be partnering with BIO-key in this important effort to increase the security, ease of use, and cost effectiveness of ePrescribing solutions," said Scott Lowry, CEO of HealthIDx.

BIO-key has a strong track record providing "biometric plus" two-factor authentication solutions with its ID Director family of products, providing seamless integration into ePrescribing platforms from EPIC and Allscripts, with more integrations in development. Healthcare customers choose BIO-key because of the day-to-day operational impact of its outstanding National Institute of Standards and Technology (NIST) accuracy tests, scalable 1-to-many search, and device interoperability. NIST's reports (http://www.nist.gov/itl/iad/ig/pftii_results.cfm) demonstrate that BIO-key's accuracy results are orders of magnitude better than competitive offerings being sold at higher prices. BIO-key's superior accuracy directly impacts prescribers every day with an improved biometric experience, and allows the highest standards of security to be met without compromise.

The Drug Enforcement Agency's (DEA) ePrescribing regulations require some healthcare operations to use a federally-approved identity proofing service before authorizing a practitioner to access an ePrescribing system. BIO-key's new offering addresses this market need by providing secure and integrated identity proofing as part of the BIO-key biometric enrollment workflow. Additionally, some health systems choose to have the identity proofing CSP host their ongoing two-factor authentications. BIO-key's identity proofing service dovetails seamlessly with the company's CSP-hosted authentication service, providing two factor authentication on a subscription basis, at a fraction of the typical cost for such services in the ePrescribing market. Most importantly, BIO-key customers will have a choice and flexibility as their needs change. They may host their enrollment and authentication services in-house, at BIO-key's CSP, or a combination of both.

"True to BIO-key's history of providing our customers choices among any of over 40 fingerprint scanners on a variety of platforms, we offer customers more deployment options than any ePrescribing authentication solution provider," stated Jim Sullivan, SVP Global Sales, BIO-key. "Customers are free to choose in-house or CSP ID proofing, as well as in-house or CSP-hosted transactional authentication services. The cost of ownership of the newly introduced BIO-key CSP EPCS solution represents significant savings opportunity for healthcare organizations, when compared with expensive subscription-only options," added Sullivan. "Discerning buyers know to compare the public NIST results of the various fingerprint authentication options available in the market, and will continue to choose BIO-key for superior user experience, as well as saving money."

About BIO-key
BIO-key International, Inc. develops and delivers advanced fingerprint biometric identification solutions to commercial and government enterprises, integrators, and application developers. BIO-key's award winning, high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise applications. Our solutions are used in local embedded OEM products as well as some of the world's largest identification deployments to improve security, guarantee identity, and reduce identity theft. BIO-key's technology is offered directly or by market leading partners around the world. (http://www.bio-key.com)

About HealthIDx
HealthIdx is a leading provider of high-assurance digital-identity credentials in the healthcare and life sciences space. In doing this, HealthIDx provides the technology, data, policies, procedures and certifications necessary for organizations to create, provision, maintain and monitor trusted identity credentials. (http://www.healthidx.com)

BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

Contact Information

  • Investor & Media Contacts:
    David Collins, Tanya Kamatu
    Catalyst Global
    212-924-9800
    bkyi@catalyst-ir.com