SOURCE: Montecito Medical Investment Company

February 25, 2008 07:00 ET

Montecito Medical Investment Company Signs Agreement With MyMedicalRecords.com to Offer Its Doctor Tenants an Affordable Solution for Electronic Medical Records Storage and Access

LOS ANGELES, CA--(Marketwire - February 25, 2008) - Montecito Medical Investment Company ("MMIC") of Santa Barbara, CA, which provides 70,000 physicians office space in medical buildings, has entered into a strategic development agreement with Los Angeles-based MyMedicalRecords.com ("MMR"), a leading provider of Web-based Personal Health Records ("PHRs"), to provide their physicians with a simple, low-cost way to digitize all patient back files and day-forward office files on a just-in-time basis.

Electronic medical record systems are estimated to cost $40,000 to as much as $100,000 per physician, plus hardware and training. The new system, called MyMedicalRecords.com Professional, or MMR Pro, requires no significant upfront costs. This will enable Montecito Medical to bring to their physician tenants a streamlined, integrated system that can digitize and maintain patient records electronically, with minimal disruption to office workflow, regardless of the office's existing technology platform, and for as little as $500 per month.

The digital records will be stored on a secure Internet site co-branded with the name of the physician practice, which will control the content of the site and access to the records. Patients will be able to view their individual records through MMRPatientView at no charge by logging into their account with a secure password.

Patients will be able to upgrade to a full MyMedicalRecords.com account that covers up to 10 members of a family for $9.99 a month or three cents per person per day (a portion of this will be used by the practice to offset administration costs). An upgraded account gives patients access to a complete online health management system for themselves into which medical records from both MMR Pro healthcare physicians and non-participating providers can be added. MyMedicalRecords.com accounts, in addition to providing incoming fax, file upload and voicemail capability through a dedicated telephone line, offer a drug interaction database of more than 20,000 prescription and over-the-counter medications, calendaring for prescription refills and doctor appointments, and a special emergency login feature that allows a doctor to access pre-selected areas of a user's account in the event of a medical emergency.

"Partnering with MyMedicalRecords.com allows us to enhance our doctors' technology and patient care by offering them a way to have virtual office space and save money on the cost of storing paper records, while streamlining their operations," said Chip Conk, CEO of MMIC.

"MMR Pro will enable Montecito Medical to offer their physician tenants a convenient way to reduce the cost and inefficiencies of managing medical records, while making them available to patients in a timely manner when requested, as required by the Health Insurance Portability and Accountability Act," stated Robert H. Lorsch, Chairman and CEO of MyMedicalRecords.com.

ABOUT MYMEDICALRECORDS.COM

MyMedicalRecords.com (MMR) is a leading provider of Web-based personal health record and vital document storage solutions available to employers, healthcare providers, insurance companies and brokers, unions, professional organizations, government agencies and consumers enabling individuals and their families to have greater control over their health and well-being. MMR also provides physicians with a low-cost way to digitize their patient back files and day-forward files on a just-in-times basis. Using proprietary patent-pending technology, MMR offers an easy-to-use, secure and affordable online PHR solution that enables documents, images and voicemail messages to be transmitted in and out of the system using a variety of methods, including fax, file upload and e-mail. MyMedicalRecords.com also serves as a virtual safe deposit box for storing any important document, including insurance policies, financial records, advance directives, deeds of trust and wills, providing an emergency-preparedness tool that protects valuable information from being lost or destroyed by fire, flood, earthquake and other disasters. For more information, please visit www.MyMedicalRecords.com.

ABOUT MONTECITO MEDICAL INVESTMENT COMPANY

Montecito Medical Investment Company (MMIC) is one of the nation's largest privately held real estate companies specializing in the acquisition and development of hospitals, medical office buildings, surgery centers, long-term acute care facilities and skilled nursing facilities. The firm, headquartered in Santa Barbara, California, partners with medical real estate owners, enabling them to monetize their equity and improve their facilities, technology, and patient care. MMIC owns 32 properties in 12 states, representing more than 1.5 million square feet and in excess of $500 million in valuation. For more information, please visit www.MontecitoMedical.com.

Contact Information

  • CONTACT:
    Montecito Medical Investment Company
    Melissa Barto
    BLAZE
    310-395-5050 (cell 919-265-4495)
    Email Contact

    MyMedicalRecords.com
    Scott Smith
    888-808-4667 x123 (cell 310-254-5051)
    Email Contact