Nightingale well positioned to benefit after $236 million EMR Funding Program
announced by the Ontario Medical Association
Program Available to Practice-Based General Practitioners and Specialists
MARKHAM, ON,
A letter issued on
Under a new program, eHealth Ontario will partner with OMA subsidiary OntarioMD to implement the "EMR Adoption Program." With support and investment of approximately $236 million from eHealth Ontario, the new program will broaden and accelerate physician adoption of EMRs over the next three years. This means EMRs will be accessible to more physicians, allowing them to leverage information technology to improve patient care and practice efficiency. The previous Primary Care IT Program provided funding to 3,300 family physicians for EMRs in Ontario. The new EMR Adoption Program will see this number increase by 5,700, to a total of 9,000 physicians, with the ability to provide 10 million Ontarians with an electronic medical record by 2012. All practice-based primary care physicians and, for the first time, specialists are eligible for the program. The program will provide both one-time and monthly funding, as well as transition and adoption support services. Early EMR adopters, who helped expand and evolve the program, are also eligible for a monthly subsidy in order to upgrade their EMRs to the latest certified specification.
The new funding program stipulates that all physicians operating in practices of less than three physicians will qualify for funding if they use a certified Application Service Provider solution (ASP) hosted at eHealth Ontario.
In 2008, Nightingale was selected as one of only three certified and funding eligible ASP EMR systems in Ontario. This followed an open Request for Proposal (RFP) and extensive evaluation process conducted by OntarioMD. Subsequently, Nightingale entered into a 15-year agreement with eHealth Ontario for the provisioning and hosting of the company's EMR system and making it available to funded Ontario physicians.
"This program and financial commitment from the Ontario Government are much needed catalysts for driving adoption of EMR and for creating a tangible mainstream market in Ontario," said Sam Chebib, President and CEO of Nightingale. "Nightingale is well positioned to take advantage of these developments and has been preparing its technology, sales and implementation resources to capture our share of that market. It is excellent news for Ontario physicians and patients, and an important step towards improving the province's healthcare system.
OntarioMD will begin accepting applications for funding on
About Nightingale
Nightingale is one of the fastest growing health care service and software companies in
Forward Looking Statement
This press release contains "forward-looking statements" respecting the issuance and cancellation of securities of the Company within the meaning of applicable Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may" ,"could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Nightingale to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the speculative nature of the medical software industry, which is affected by numerous factors beyond Nightingale's control; the ability of Nightingale to successfully integrate its acquisitions and any liabilities arising as a result of such acquisitions, access to capital and agreements with its Lenders; the existence of present and possible future government regulation; the significant and increasing competition that exists in the medical software industry; the early stage of Nightingale's business; and therefore it is subject to the risks associated with early stage companies, including uncertainty of revenues, markets and profitability and the need to raise additional funding. All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends. Although management believes the assumptions used to make such statements are reasonable at this time, our assumptions may not to be as anticipated, estimated or intended. Certain material factors or assumptions applied by management in making forward-looking statements, include without limitation, factors and assumptions regarding Nightingale's continued ability to fund its business, rates of customer defaults, relationships with, and payments to, lenders, demand for Nightingale's products, as well as Nightingale's operating cost structure.
Although Nightingale has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Nightingale does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Further information on Nightingale Informatix Corporation is available at www.sedar.com.
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For further information: Media: Alan Kriss, (905) 307-6863, [email protected]; Investors: Michael Ford, Chief Financial Officer, (905) 307-7870, [email protected]
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