NANUET, NY--(Marketwire - June 22, 2012) - iMedicor (OTCQB: VMCI)(PINKSHEETS: VMCI) today announced its success in assisting Hamilton Dental Associates (HDA), based in Hamilton Township, New Jersey and comprising 34 dentists, with their adherence to Meaningful Use guidelines and receipt this month of Federal Electronic Health Record (EHR) Incentive Funds. The company said 20 of Hamilton's dentists qualified under Medicaid guidelines for funding in this first year. The remaining 14 dentists will qualify in the second quarter of 2013.
Under the guidance of iMedicor's Meaningful Use Consulting Services, HDA Providers received their incentive funds in less than 10 weeks from the time the first 20 dentists engaged with iMedicor to register and proceed with the Meaningful Use process. Additional EHR Incentive Funds are to be awarded over a six-year period.
According to iMedicor, those practices within the dental community that have a minimum of 30% of their treated patients under Medicaid can qualify for incentive funds. Those funds can total up to $63,750 per dentist. The payments are released each year, subject to meeting yearly qualifications, with an initial payment of $21,250 and five subsequent annual payments of $8,500.
iMedicor has been working with primary care physicians throughout New Jersey for the past 18 months to guide qualified medical practices through the same procedures leading up to full incentive funding. Approximately 300 iMedicor client Providers have already received their EHR Incentive Funds. The process includes: qualification and registration into the appropriate Medicare or Medicaid program; recommending, on an as-needed and unbiased basis, the appropriate ONC-certified EHR system; explaining Meaningful Use reporting requirements; performing Meaningful Use gap analysis; and positioning the provider to attest for Federal Incentive Funds.
iMedicor said it would have the opportunity to present and offer its Meaningful Use Consulting Services to many more dentists this weekend at the Annual New Jersey Dental Association Meeting held at Long Branch, New Jersey.
"Servicing Hamilton Dental Associates represents our first move from the medical area to the dental side of healthcare," said Fred Zolla, iMedicor CEO, "and we look forward to expanding our reach into the New Jersey dental community. With incentive funding going to Hamilton Dental in such a short period of time, iMedicor has demonstrated its expertise in Meaningful Use guidance. We hope many other qualified dental Providers who will be attending this weekend's Dental Association Meeting will want to engage our services to achieve attestation and receive their incentive funds as well."
"We are thrilled with the many benefits our dental group has derived by working with iMedicor," commented Drs. Sidney Whitman and Michael DeLuca, two HDA partners and members of the New Jersey Dental Association. "Their consultants, particularly Bob Millar and Vito Alongi, were extremely knowledgeable and professional as they guided our staff through each required step of the Meaningful Use process. They provided outstanding results within a better-than-expected timeframe."
iMedicor (http://www.imedicor.com/) is a provider of comprehensive healthcare communications solutions that enable physicians and other healthcare professionals to optimize the use of technology in managing their practices and participating in the federally-mandated transition from paper to Electronic Health Records (EHRs). Through two primary services, iMedicor offers low-cost, easy-to-adopt solutions that can be tailored to the needs of individual practices or larger organizations:
- SocialHIE, the first information exchange platform to offer secure messaging services within a social/professional networking architecture. SocialHIE enables any physician, clinic or hospital to transmit and share information such as patient data, test results and images within a secure, HIPAA-compliant environment -- and even between disparate EHR systems. SocialHIE also offers additional advantages such as community development, the ability to create private healthcare information exchange networks with patient specific information, and access to a vast catalog of accredited continuing medical education (CME) programs.
- Meaningful Use Consulting Services. iMedicor is qualified to assist both primary care and specialist practices with EHR adoption and to help them attain Meaningful Use and receive incentive payments from the Federal Government for their compliance.
About Hamilton Dental Associates
Hamilton Dental (http://www.hamiltondental.com/) is a hi-tech, multi-specialty group dental practice with three convenient locations. At our Hamilton Square (Klockner Road Office) location we offer pediatric dentistry, adult dentistry, orthodontics, oral surgery, periodontics and endodontics. At our Hamilton (Kuser Road Office) location we offer pediatric dentistry, adult dentistry, periodontics and endodontics. At our Pennington (Merrill Lynch Campus Office) we offer adult dentistry to our Bank of America Family.
This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties.