Fort Lauderdale, FL, April 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- MediXall Group Inc., (MDXL), a technology and innovation-driven organization focused on transforming the patient-provider experience, today issued an open letter to the Company's shareholders regarding MediXall.com’s accomplishments in 2018 and plans moving forward. The letter from MediXall.com President, Michael Swartz, follows:
Dear Fellow Shareholders:
At MediXall Group, we are building a better process in healthcare. Imagine that as soon as your physician identified a need (e.g., an MRI of your knee), they pulled up a list of options, and based on your insurance benefits, provided you with the options that best fit your coverage situation. Or, if your doctor gave you options to pay up front at a pre-negotiated discounted price (with your purchase being able to be applied to your deductible); and, if you have already met your deductible, allow you to book an appointment and use your insurance to receive some type of financial benefit. A step further, what if you could compare different options and schedule/pay for that visit before you left your physician’s office or be able to book the appointment in the comfort of your home while using either your computer or phone? That’s MediXall.com.
We are at the beginning of consumer-focused healthcare, and, if we execute well, this is the beginning for MediXall.com. As an organization, we are applying consumer-driven technology to the healthcare process to create real value for our users. By doing so, we are striving to create an enduring company, even in established and large markets.
Today, consumers simply want to get something done or resolve an issue (i.e. track a package; change a flight; fix a problem). These consumers increasingly want to do so quickly and efficiently online, without having to make a phone call, send an email or schedule an appointment. Plus, customers will come to expect even greater control over their service experience as advanced mobile devices find their way into more hands around the world. With customer expectations continuing to rise, self-service is no longer a “nice-to-have.” Rather, end-to-end self-service capabilities will play an increasingly central role in who retains more customers, fosters innovation and spurs growth. This has not happened in healthcare yet.
Based on the soft launch of MediXall.com in September, we believe we are well positioned to change the way healthcare is delivered; and in turn, create value over the long term for our organization. Through the soft launch, we achieved several goals:
- Built our Imaging Service Provider Network: We entered into a strategic partnership with CoreChoice, Inc., the nation’s leading specialty network for diagnostic radiology. This partnership provided the Company with access to more than 22,000 fully-credentialed radiology providers and facilities throughout all 50 states.
- Reviewed and Refined our Revenue Models: Through refinements of the Pricing model, we learned that we can make more than the $15 technology fee per appointment.
- Reduced the Provider Acquisition Cost Model: Developed a company-wide strategy and implemented internal processes that significantly reduce the cost and time to acquire healthcare providers.
- Implemented an effective Direct-to-Consumer (DTC) Campaign: To make sure we attracted the patients who were shopping online for diagnostic imaging services to get the best price, we launched a search engine marketing campaign through Google AdWords, which resulted in 80,000 impressions and 2,000 hits to the MediXall.com website in only 12 days of the campaign running.
- Search engine marketing reaches the right consumers at exactly the right time: when they are open to new information.
- Created a better method for Provider/Patient Communication: MediXall.com Providers expressed the need for a tool to better manage and streamline their current referral process since often patients don’t follow up, follow-up appointments are missed, and the referring office staff has no way to track the referral's progress. Based on this, we updated the functionality available to those providers using MediXall.com, creating the “MediXall Patient Experience.”
Based on the feedback from the controlled launch, we found the need to make some major adjustments to the way the platform serves our customers – specifically, regarding accepting payments on the platform and more real-time scheduling interfaces. However, with MediXall.com using an external development firm to make these changes, it took us much longer than anticipated.
With the opportunities and growth trajectory in front of the company, it is important for MediXall.com to have a team capable of making critical product development decisions daily in order to maintain speed. Speed to market is a critical factor in success. As such, we have started to build a high-quality internal development team within the MediXall organization. Setting the bar high in our approach to hiring has been, and will continue to be, the single most important element of MediXall.com’s success. During the past six months, we have added:
- Doug Meli, VP of Product Management
- Eddie Solar, Full-stack Developer
- Mario Rosenthal, Full-stack Developer
In addition, with all the complexities in healthcare, as well as the ever-changing environment in healthcare, it is important that the company is able to tell the MediXall story in a way that resonates with our desired audience and emphasizes value. To ensure consistent messaging, accelerate the company’s visibility and build credibility for the MediXall brand, we obtained the services of Kip Hunter Marketing, a Fort Lauderdale-based full-service brand marketing, advertising, public relations, social media, and special events firm. We also started building a high-quality internal marketing team, with the addition of Carly Todd, Director of Marketing.
With healthcare being such an integral issue with Americans today, we believe it is important to voice our company opinion on the state of healthcare while simultaneously building brand visibility for MediXall.com. Towards the end of July, we created a Twitter account @MrFixHealthcare to do just that. Since launching, the account has grown to more than 4,000 followers and continues to grow every day. Whether you have a Twitter account or not, you can join the digital conversation by visiting https://twitter.com/MrFixHealthcare.
What does all this mean for the MediXall.com shareholder in 2019?
Launched MediXall Patient Experience Portal to Physicians
Most studies show that price transparency tools have little effect on patient shopping, in part, because patients rarely use them. From ordering diagnostic tests, recommending treatments and making referrals, providers direct most of our nation’s healthcare spending. Given that providers’ treatment and referral decisions drive a vast majority of healthcare spending, we developed the MediXall Patient Experience to serve as a tool for physicians to share the cost and location of upcoming care options. This enables patients to discover locations, pricing, and availability options of which they were previously unaware. This system empowers patients to take control of their healthcare by showing options personalized for each self-pay and underinsured patient, how much it will cost, where the patient lives, and more. With the MediXall Patient Experience, we are building a platform to stand on the shoulders of our consumer-facing healthcare marketplace, MediXall.com. We think that MediXall.com makes shopping for healthcare as simple and easy as booking a flight or hotel, but it needed a straight line to deliver our “what you see is what you get” pricing data to the right people at the right time. This is only possible by involving the patient’s physician as a critical partner to facilitate this price transparency.
Full Launch of MediXall.com throughout the state of Florida in 2nd Quarter of 2019
Just as Amazon started selling only books online, this first full release is focused on imaging procedures, which includes MRI, CT, PET, X-rays, ultrasound, mammogram scans and more. We believe consumers will find MediXall.com simple to use, since it now works much like booking a hotel or flight through Priceline or a similar online booking site, providing consumers with reviews, transparent pricing, and comparative shopping.
Full Launch and Roll-out of New Nationwide Programs in 2nd & 3rd Quarter of 2019
With the soft launch of MediXallRx in early November, MediXall.com provides a powerful, free tool to search and compare prescription drug prices, which can differ greatly between competing pharmacies, and receive immediate savings of up to 80 percent using the MediXallRx Savings Card at the register on both generic and brand prescription medications. By leveraging our partner’s national pharmacy network, MediXallRx is now accepted nationwide at more than 60,000 participating pharmacies throughout all 50 states.
In September, we entered into a partnership and negotiated pricing with a major national laboratory company that will allow us to launch a national laboratory testing services program to MediXall.com users in early 3rd quarter of 2019. This new program will provide a seamless ordering experience for patients and physicians to search, compare, and order affordable pre-curated panels or design custom lab test orders for their patients.
Launch of Vision Services throughout the state of Florida late 2nd Quarter of 2019
With the recent appointment of Dr. Howard J. Braverman to the MediXall Advisory Board, MediXall is preparing for an expansion into the eye care arena. Dr. Braverman’s distinguished career of more than 40 years in the eye care industry includes practicing optometry in Florida for more than 28 years, as well as serving as the President of the American Optometric Association. Most notably, he was the National Vision Director for Humana’s Employer Group Segment. Dr. Braverman is assisting the company with the critical areas of identifying and pursuing key strategies to help facilitate MediXall’s roll-out into the Vision space.
MediXall has also entered initial negotiations that will facilitate adding additional in-demand medical and dental specialties on MediXall.com over the next three to six months.
We are still in the early stages of learning how to bring new value to our customers through the intertwining of consumer technology and healthcare. Today, the MediXall.com team is fully engaged and laser-focused on the growth opportunities that currently exist with our current offerings, the MediXall.com marketplace, and the MediXall Patient Experience. Our goal remains to solidify and extend our brand and customer base. This requires sustained investment in systems and infrastructure to support outstanding convenience, selection, and service while we grow. We are planning to add eye care and direct to consumer laboratory product and service offerings over the coming months, and over time we believe that other products may be prudent investments. We also believe there are significant opportunities to better serve our customers overseas when it comes to improving the medical tourism experience. To be certain, a big part of the challenge for us will lie not in finding new ways to expand our business, but in prioritizing our investments.
We would like to thank our team for their incredible efforts this past year – their passion for our consumers and providers, and tireless drive to transform the Company, has better positioned us to capture the many great opportunities that lie ahead. On behalf of everyone at Mediall.com, we would also like to thank you, our shareholders, for your continued support of our Company.
Very truly yours,
Michael Swartz, President, MediXall.com
About MediXall Group, Inc.: MediXall.com is a new generation healthcare marketplace platform designed to address the growing need of self-pay and high deductible consumers for greater transparency and price competition in their healthcare costs. The MediXall.com platform makes scheduling an appointment for specific healthcare services as simple and easy as booking a flight and hotel. The online experience was designed to mirror e-commerce and online booking sites found in other markets, with it centered on providing consumers with ratings/reviews, transparent pricing, and comparative shopping. With MediXall.com, consumers can search and compare most medical, dental and wellness services based on all-in cash price, location/distance, ratings, & availability, and select the best value according to their personal preferences. In this era of rapidly increasing deductibles and healthcare costs, the cloud-based platform is designed to be transformational and disruptive to traditional methods of medical care and provisioning of medical services to the consumer. For more information, please visit www.medixall.com or call (954) 908-3481.
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company’s ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the Company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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