ROCKVILLE, Md. and NEWTON, Mass., April 17 /PRNewswire-FirstCall/ -- InforMedix Holdings, Inc. (OTC Bulletin Board: IFMX), providing Med-ePhone(TM), Med-eMonitor(TM), and Med-eXpert(TM) Systems to improve medication adherence and health status monitoring, and InnovationRx, a provider of prescription medication adherence solutions, announced an agreement to market and sell a combined product line to a broad spectrum of Federal and State Governmental Agencies, insurance companies, health plans, managed care companies, disease management organizations, and other related private and public industry organizations and plans.
InnovationRx, the healthcare division of Innovation Group, employs an inter-disciplinary, multi-modal methodology to assess and improve medication adherence, which provides clinical evaluation, customized interventions and progress reports. Their services, developed in a research grant partnership with Northeastern University School of Pharmacy, are anchored by proprietary medication adherence risk-assessment instruments and intervention plans, combined with interactive Web-based tools and live pharmacists in call centers. These licensed pharmacists, trained in motivational interviewing and compliance, provide patients with personalized, one-to-one support and consultation. Innovation Group is a global company with revenues in excess of $250 million and is focused on providing risk management business solutions to various industries and marketplaces throughout the world.
The companies are collaborating to create discrete combinations of their respective products and services that address differing levels of adherence risk among low risk, medium risk, and high risk populations. Specifically combined product and service offerings will be developed, marketed and sold at specific price points. The combinations will be designed to provide the right mix of products and services to best achieve improved medication adherence, health outcomes, and sponsor return-on-investment for each level of non-adherence risk. It is estimated that medication non-adherence, defined as the failure of patients to take medications as prescribed, results in $300 billion of annual costs to the U.S. healthcare system, $100 billion of which is hospital costs. In addition, it is estimated that non-adherence causes 40% of nursing home admissions, and is responsible for between 10% and 28% of all hospital admissions.
Sean Teare, President of InnovationRx stated, "We are thrilled to be working with InforMedix to uniquely combine our proprietary assessment and behavioral modification techniques and technologies, anchored in pharmacist-based call centers, with InforMedix's real-time prompting, monitoring, reporting, and automatic outbound alerting when patients miss their medications, or their health status is declining. Med-eXpert's detailed Web-enabled reports for each patient, graphically depicting their reasons for non-adherence (e.g. side effects, ran out of medications, change in doctors' orders, etc.), will enhance the consulting effectiveness of our pharmacists.
Bruce A. Kehr, M.D., chairman and Chief Executive Officer of InforMedix commented "What is really exciting about our plans with InnovationRx is that through combining their products and services with our own, we offer the marketplace an end-to-end solution that first assesses risk of patient non-adherence, and then assigns that patient exactly what products and services they need to optimize adherence and health. The addition of risk assessment algorithms, and pharmacist-based call centers receiving real-time adherence and health status data from our Med-eXpert database, from patients using our Med-ePhone or Med-eMonitor, powerfully completes a comprehensive medication adherence solution that is unique to the marketplace. We believe that by working together with InnovationRx, backed by the global reach of their parent, Innovation Group, we can significantly increase our visibility and revenues."
InnovationRx is based in Newton, MA. The company provides prescription medication adherence solutions. Built on a review of the literature and research related to factors affecting patient adherence and successful ways to intervene, InnovationRx employs an inter-disciplinary, multi-modal methodology that provides clinical evaluation, customized interventions and progress reports. For more information, visit http://www.innovationrx.com
About Innovation Group
Innovation Group (LSE: TiG) is one of the leading solution providers to the global insurance industry through the development of a flexible combination of specialized business process outsourcing, supply chain management and technology solutions. Our partnerships give clients access to proven, leading-edge technology, world-class insurance expertise and global delivery capabilities. Through our work with major global brands we've achieved an impressive track record of turning business strategy into operational reality. For more information, visit http://www.innovation-group.com
About Northeastern University School of Pharmacy
A leader in interdisciplinary research, Northeastern University's signature cooperative education program, one of the largest and most innovative in the world, is ranked among the top 100 best universities in the nation by U.S. News & World Report. Northeastern takes pride in its translational research approach and in its partnerships with several Boston-area teaching hospitals, community health centers, community and hospital pharmacies, and medical research facilities. For more information, visit http://www.northeastern.edu/bouve/pharmacy/
InforMedix, Inc., "The Medication Adherence Solution," is based in Rockville, Maryland. The Company has brought to market its Med-eXpert System for consumer product and disease management markets, which use Med-ePhone and Med-eMonitor units to deliver peace-of-mind, improved independent living, and better health outcomes to patients and their loved ones. The Med-ePhone(TM) System (in testing) prompts, monitors and records medication adherence and health status assessment delivered to patients over mobile phones and landlines using Interactive Voice Response Systems (IVRS), combined with 24/7 monitoring. The Med-eMonitor System ("Medication, Safe and Easy"(TM)) integrates a portable patient-interactive "smart pillbox", hardware, software, and 24/7 monitoring. Both products are designed to enable chronically ill patients and their loved ones, professionals in disease management programs, and medical researchers to efficiently monitor and manage medication and care plan adherence, clinical response, and drug safety. For more information, visit http://www.informedix.com
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|SOURCE InforMedix Holdings, Inc.|
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