Navigation Links
As Healthcare Spending is Predicted to Exceed 4 Trillion in Less Than 10 Years, Technology will be Called upon to Stem the Tide
Date:2/28/2008

LEXINGTON, Ky., Feb. 28 /PRNewswire-FirstCall/ -- VirtualHealth Technologies, Inc. (OTC Bulletin Board: VHGI) President, Jim Renfro, today responded to a recent series of articles that predict by 2017, total health care spending will double to more than $4 trillion a year, accounting for one of every $5 the nation spends according to a projection by the federal government.

With the recent announcement of the increased costs in health care, projected to top $4 trillion by the year 2017, everyone is apparently searching for ways to curb these cost increases without diluting the quality of health care delivery. "Our economy can ill afford for our health care spending to equal nearly 20% of our gross domestic products," stated Jim Renfro, President of VirtualHealth Technologies, Inc. "With the costs to our economy for our current trade imbalance, we have major concerns as to the impact this increase cost for medical services would have on both our economy and the nation." Renfro continued, "It is our firm belief that the best way to curb the increase costs for medical services is with the introduction of new cutting-edge technology solutions. That is why we are investing heavily in these technologies which will assist healthcare providers in operating more efficiently and more securely."

"Being able to curtail prescription drug abuse and doctor shopping will save the states and the medical communities millions of dollars each year," President Renfro reported. "We also now have the capability of providing a security platform which will allow both State and Federal Agencies to share information between themselves and members of the healthcare community in ways never before possible." Renfro continued, "We must all join together, business leaders, government agencies and members of the healthcare community to resolve this issue, otherwise it will impact the quality of life for generations to come."

This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. While these statements reflect the Company's best current judgment, they are subject to risks and uncertainties. Actual results may differ significantly from projected results due to a number of factors, including, but not limited to assumptions, beliefs and opinions relating to the business and growth strategy of VirtualHealth Technologies, Inc. and its wholly owned subsidiaries Verified Prescription Safeguards, Inc., VPS Holding, LLC, Envoii Healthcare, LLC, Medical Office Software, Inc. and implementation thereof, based upon the Company's interpretation and analysis of financial and market conditions, the decisions of businesses with whom the Company is either engaged in business with or negotiating, healthcare industry trends and management's ability to successfully finance, develop, market, sell and implement its e-commerce and internet solutions, clinical and financial e-transaction services and software applications to physicians, pharmacies, governmental agencies, laboratories, insurance companies, HMOs, and payers. These factors and other risk factors are more fully discussed in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any intent or obligation to update any forward-looking statements.


'/>"/>
SOURCE VirtualHealth Technologies, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. YMCA of the USA and McNeil Consumer Healthcare Partner to Promote Health for Older Adults
2. NeurogesX to Present at Susquehanna Financial Groups 2nd Annual SIGnificant Options in Healthcare Conference
3. Healthcare Businesswomens Association Names Genentechs Leonard Kanavy, Vice President, Commercial Operations as the 2008 Honorable Mentor
4. Novavax CEO to Present at Susquehannas Second SIGnificant Options in Healthcare Conference
5. APIC Selected as Faculty in Blue Shield of California Foundation Initiative to Fight Healthcare-Associated Infections
6. Abaxis, Inc. to Present at the Susquehanna Financial Groups Second Annual SIGnificant Options in Healthcare Conference
7. Idenix Pharmaceuticals to Present at the SIGnificant Investment Options in Healthcare Conference
8. AMN Healthcare Reports Fourth Quarter and Year End 2007 Results; Provides Full Year 2008 Guidance
9. Advanced Life Sciences to Present at Susquehannas Second Annual SIGnificant Investment Options in Healthcare Conference
10. Agfa HealthCare, InterComponentWare, and Sun Microsystems Join Open eHealth Foundation at HIMSS08
11. Microsoft and Microsoft Healthcare Users Group Announce Winners of MS-HUG Healthcare Innovation Awards 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... , ... December 07, 2016 , ... One of two ... of the securement tape is painful for her. "This is why the co-inventor and ... heads," she said. , They then created a prototype of the patent-pending AV-AIR, a ...
(Date:12/7/2016)... , ... December 07, 2016 , ... Sharon Kleyne, host ... Climate Change and Your Health on Voice of America, declared on her radio program ... attention to the fact that when these bullies attack leaders in corporate America, they ...
(Date:12/7/2016)... ... December 07, 2016 , ... Texas ... "scam operations" carried out by unethical locksmith companies and is urging Search Engines ... halt. According to Texas Premier Locksmith, these fraudulent locksmith services take advantage of ...
(Date:12/7/2016)... ... December 07, 2016 , ... Gensuite ... Brilliance Awards under the Best New Product Launch category. Gensuite’s entry on their ... experience. , BOC Global Events & Training Group is a professional event and ...
(Date:12/7/2016)... ... December 07, 2016 , ... “Tomorrow Trump Goes To Washington”: a ... to the presidency and to America. “Tomorrow Trump Goes To Washington” is the creation ... she can for this country. , Nancy attributes her patriotic nature to her WWII ...
Breaking Medicine News(10 mins):
(Date:12/7/2016)... -- According to a new market research report "Clinical Decision ... Standalone), Model (Knowledge-Based), Type (Therapeutic, Diagnostic), User Interactivity (Active, Passive), Application - ... reach USD 1,519.2 Million by 2021 from USD 856.3 Million in 2016, ... ... MarketsandMarkets Logo ...
(Date:12/7/2016)... Dec. 7, 2016  Organovo Holdings, Inc. (NASDAQ: ... company focused on delivering scientific and medical breakthroughs ... Chairman and Chief Executive Officer Keith Murphy ... Wednesday, December 14, 2016 at 1:00 p.m. Eastern ... not yet familiar with the Company, an informational ...
(Date:12/7/2016)... According to the latest market ... Study on Multiplex Detection Immunoassay: North America to Dominate ... detection immunoassay market is expected to witness a CAGR of ... ...      (Logo: http://photos.prnewswire.com/prnh/20161114/438683LOGO) ...
Breaking Medicine Technology: