LOS ANGELES, CA--(Marketwire - Oct 10, 2012) - MMRGlobal, Inc. (OTCBB: MMRF) ("MMR"), a leading provider of Personal Health Records (PHRs), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced results from its Rapid Revenue Program, launched last May. The program called for the Company to generate five million dollars prior to the end of 2012. The Company already has exceeded expectations of the program and has signed agreements to deliver more than the five million including deferred revenue. This does not include any revenues from the Company's patent licensing and enforcement campaign announced earlier this week or any biotech licensing agreement. The program focuses specifically on sales to mass merchandisers including pharmacies and medical supply companies, home healthcare agencies, assisted living facilities, caregivers and patient advocates. The Rapid Revenue Program has also benefitted by the addition of Mike Dietrich (http://phx.corporate-ir.net/phoenix.zhtml?c=178404&p=irol-newsArticle&ID=1736497&highlight) and his management of programs directed at schools and universities. Dietrich has spent the last month traveling nationwide calling on school systems, universities and specialty mass merchandisers.
On the Medicare website at http://www.medicare.gov/manage-your-health/personal-health-records/personal-health-records.html, CMS encourages patients to use and maintain a PHR. In response to the government initiative, MMR has begun targeting sales of its MyMedicalRecords PHR to Medicare and Medicaid patients through the Company's strategic partner, Vida Senior Resource. The website encourages patients to create and maintain a Personal Health Record so that they can share their medical records among multiple providers and authorized caretakers and family members. It also points out how having a PHR can help reduce costs by avoiding unnecessary procedures or duplicate testing and that a PHR can be critical in an emergency.
Despite the potential cost-saving benefits to Medicare, the government is not reimbursing patients for the cost of maintaining a PHR. Accordingly, MMR is in the process of applying for CPT codes that will allow facilities and caretakers to bill Medicare and ultimately Medicaid and other payers based on a particular patient's coverage. This program could significantly reduce the costs of care and allow home healthcare organizations like Vida to sign up all their patients as needed in an effort to control costs. Meanwhile, Vida is using outbound telemarketing to offer its affiliate partners and private pay patients the MyMedicalRecords PHR suite of products and services paid for by the patient or affiliate partner.
As a result of success under the Rapid Revenue Program, the Company has also expanded its MyMedicalRecords direct-to-consumer offerings to include a free trial of its Personal Touch concierge service at no additional cost. Customers who sign up for MyMedicalRecords at www.MMRPersonalTouch.com can have their medical records collected and placed in a MyMedicalRecords account for free. The new campaign is generating subscriber leads at a cost of under $10, with a 17.9% conversion rate of approximately $42.00 to deliver a $100.00 sale.
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-use online Personal Health Records ("PHRs") and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, and professional organizations and affinity groups. The MyMedicalRecords PHR enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. MyMedicalRecords is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user's account. The Company's professional offering, MMRPro, is designed to give physicians' offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 antibodies and data and samples from its FavId™/Specifid™ vaccine clinical trials for the treatment of B-Cell Non-Hodgkin's lymphoma. To learn more about MMRGlobal, Inc. visit www.mmrglobal.com. View demos and video tutorials of the Company's products and services at www.mmrtheater.com.
All statements in this press release that are not strictly historical in nature, including future performance, management's expectations, beliefs, intentions, estimates or projections, constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words (and their derivations) such as "need," "possibility," "intend," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," and "continue," or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the risk the Company's products are not adopted or viewed favorably by the healthcare community and consumer retail market; business prospects, results of operations or financial condition; changes in government laws and regulations including those related to the Centers for Medicare and Medicaid Services and future changes in tax legislation and initiatives in the healthcare industry; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; market acceptance of new product and service introductions including the Personal Touch service; implementation of new programs such as the Rapid Revenue Program; timing and volume of sales and installations; length of sales cycles and the installation process; ability to establish and maintain strategic relationships; relationships with licensees; competitive product offerings and promotions; undetected errors in our products; possibility of interruption at our data centers; risks related to third party vendors; risks related to obtaining and integrating third-party licensed technology; risks related to a security breach by third parties; litigation matters; risks associated with recruitment and retention of key personnel; maintaining, developing and enforcing our intellectual property rights; marketing and exploitation of our patent portfolio both in the U.S. and internationally; and such other risks and uncertainties as detailed from time to time in MMRGlobal, Inc.'s public filings with the U.S. Securities and Exchange Commission. The Company is providing this information as of the date of this release and, except as required by applicable law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.