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iVolution Medical Systems to Assist Healthcare Providers With Compliance of President Obama's Stimulus Plan
Date:3/3/2009

WILMINGTON, Del., March 3 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc. (OTC Bulletin Board: UCMT.OB), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to announce that one of its holdings, iVolution Medical Systems, Inc. will be useful in bringing President Obama's stimulus plan to fruition.

iVolution provides a unique combination of advanced, user-friendly, highly-secure and affordable healthcare technology solutions to physicians, hospitals, and consumers. Its technology platform facilitates the automation of medical records for virtually all aspects of the physician's and hospital's business. President Obama's initiative mandates the use of electronic medical records by the year 2014 and offers bonuses to providers in compliance and penalties for those not computerizing their medical records. The stimulus plan sets aside $19 billion for health information technology. Physicians would get bonuses of between $44,000 and $64,000 -- and hospitals would get as much as $11 million -- once they show that they have computerized their medical records systems. To insure traction of this initiative, the plan includes Medicare payment penalties for physicians and hospitals that are not using electronic medical records by 2014.

"Electronic medical records require a central Web program and training that could prove cost-prohibitive for many providers," says Craig Cohen, Chairman and Chief Executive Officer of iVolution. "iVolution's model is both proven and cost-effective thus enabling the healthcare industry to support President Obama's plan to alleviate rising healthcare costs."

According to Michael Queen, President and Chief Executive Officer of Universal, "We believe the widespread appeal of iVolution's business will not only secure its position as a leading healthcare company bu
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SOURCE Universal Capital Management, Inc.
Copyright©2009 PR Newswire.
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