BIRMINGHAM, England--(BUSINESS WIRE)-- Caduceus Software Systems Corp. (OTCBB:CSOC) – would like to inform the public that on February 17, 2009, President Obama signed ARRA into law. The Health Information Technology for Economic and Clinical Health Act represents an investment of more than $19 Billion towards healthcare IT related initiatives. It is a focal point of the American Recovery and Reinvestment Act. This IT health Act calls for the Office of the National Coordinator for Health Information Technology (ONCHIT) to develop methods and systems that will determine how providers will access health information through the use of IT initiatives. The Health Information Technology for Economic and Clinical Health Act also calls for ONCHIT to work with other government agencies to develop criteria to be used to define an Electronic Health Recording solution.
The Health Information Technology for Economic and Clinical Health Act mandates that certain standards and guidelines will be provided which companies must meet in order for their Electronic Health Recording solutions are to be considered an “approved” EHR.
The $19 billion dedicated to Health Information Technology for Economic and Clinical Health Act is divided into two portions: $17 billion toward a Medicare/Medicaid incentive reimbursement program for providers who can demonstrate “meaningful use” of an approved Electronic Health Recording solution, and more than $2 billion available to: providers located in qualifying rural areas; providers serving underserved urban communities; and to Indian tribes. It is estimated that this investment will initially save the government more than $10 billion, plus additional savings within the healthcare sector.
“Like the UK initiative to implement and put in place a Electronic Health Recording solution, Caduceus Software systems is poised to take advantage of this initiative in the US and believes that this will assist us as we endeavour to establish ourselves in this multi-billion dollars Health industry. We now have a two pronged strategy to sell our Electronic Health Recording solution through the initiatives put in place by both the UK and the US governments,” said Derrick Gidden, President of Caduceus Software Systems.
About Us
Caduceus Software Systems Corp. (www.caduceusco.com) is a software company that specializes in developing an all-in-one solution for private practitioners and doctors. We are in the healthcare information management industry. We are headquartered in the United Kingdom, specifically located in the metropolitan city of Birmingham. Our company was created as we saw an urgent need for better patient care throughout the world. General practitioners are using unsophisticated software which acts as more administrative than acting as a time saving tool. We are called Caduceus, which is the well-known insignia used by medical professionals.
Further information on the Company can be found at www.sec.gov and the company’s website at www.caduceusco.com
Safe Harbor Statement
All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding: Caduceus Software Systems Inc. products, services, capabilities, performance, opportunities, development and business outlook, guidance on our future financial results and other projections or measures of our future performance; the amount and timing of the benefits expected from strategic initiatives and acquisitions or from deployment of new or updated technologies, products, services or applications; and other potential sources of additional revenue. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing Caduceus Software Systems Inc. products and services, ability to deploy Caduceus Software Systems Inc. services and products, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and healthcare and pharmaceutical industries, and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements.
CONTACT:
Evian IR
Derrick Gidden, 1-855-391-2615
[email protected]
KEYWORDS: United Kingdom Europe
INDUSTRY KEYWORDS: Technology Data Management Health Hospitals Managed Care
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