|TeleCommunication Systems Deploys New VirtuMedix™ Healthcare Platform to Improve Patient Care and Reduce Costs|
ANNAPOLIS, Md. and CHICAGO, Oct. 27, 2014 – TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, today introduced VirtuMedix™, a highly secure, virtual collaboration platform designed for remote consultation of health care providers and patients. With the VirtuMedix platform, TCS addresses the rapidly growing market for video telemedicine solutions. Wake Emergency Physicians, PA (WEPPA), a North Carolina-based independent emergency medicine group, is the first to deploy the platform for improved patient care by its 136 emergency specialists who treat nearly 300,000 patients annually.
According to new research by Deloitte, 75 million “virtual” doctor visits, or 1 in 6 will occur this year alone. Frost & Sullivan forecasts that the video telemedicine market in North America will grow at a compound annual growth rate of 16.7 percent from 2012 to reach more than $600 million in 2017. This growth, according to the analyst firm, will intensify as telehealth initiatives align with the goals of the federal government and Accountable Care Organizations (ACOs) to reduce healthcare spending and improve quality of care to patients.
Wake Emergency Physicians, PA (WEPPA), Dr. Bobby Park said: “WEPPA was looking for an off-the-shelf solution that could be tailored to the needs of our emergency medicine physicians and help us to stay in front of the many changes in the healthcare marketplace. TCS was the ideal partner to deliver innovative functionality that leapfrogs any offerings currently available, while building a platform that can be used in a variety of healthcare settings.”
TCS Commercial Software Group President Jay Whitehurst said: “WEPPA physicians treat nearly 300,000 patients annually and are highly respected for their exceptional emergency care and their clinical leadership in advancing emergency medicine. Being a first-of-its-kind telemedicine solution, VirtuMedix is a natural fit with WEPPA, leveraging new technology to offer cost-effective and efficient care. It puts patients in greater control of their health and wellness, enabling easy and rapid access to healthcare in a way that fits with the patient’s lifestyle. As a flexible platform providing important business benefits for healthcare providers, VirtuMedix changes the way healthcare is delivered by addressing market demand for immediate, patient-centric, mobile and web access to medical services anytime, anywhere and on any network connected device.”
VirtuMedix™ provides caregivers and practitioners a highly secure and reliable telemedicine platform that delivers virtual health services anytime, anywhere, and from any device. Launched in 2014, VirtuMedix leverages TCS’ telecommunications technologies, including over a decade of cyber security, wireless, and mobile application innovation, into a telehealth solution that integrates easily into healthcare networks, databases, and reimbursement models. In addition to providing expanded patient outreach, VirtuMedix reduces clinical and user healthcare costs while improving patient care. For more information on VirtuMedix, please visit www.virtumedix.com and on Twitter @VirtuMedix.
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