NMXS Presents At UNM ACCESS Annual Meeting
Net Medical CEO Dick Govatski made a presentation at the UNM ACCESS Annual Meeting in Albuquerque on Friday, March 18, 2016. Highlighting the growing telemedicine industry and Net Medical Xpress's role in that growth, the presentation covered products and services, favorable market trends, competitive advantages and strengths, Net Medical Xpress's robust pipeline and dynamic marketing approach. HERE is that presentation from Net Medical.
Net Medical Xpress Turns Profitable in 2015 With Positive Cash Flow Reflecting Tele-Medicine Services Growth
30 March 2016 - Net Medical Xpress Solutions, Inc. (OTCQB SYMBOL: NMXS), announced today 2015 revenue of $4,220,000 vs. revenue of $4,583,000 in 2014. The company reported net income of $151,000 or $0.00 per share versus a net loss of ($482,000) or $0.00 per share last year.
CEO Dick Govatski said, “We were pleased to report a profitable year in 2015 with positive cash flows that reflected the strong gains in our Specialist program and the growth of our Primary Care Services. We recorded exceptionally strong growth in our higher margin Neurology Services that included our share of the grant from the Center for Medicare and Medicaid Services (CMS) to the University of New Mexico to establish a 30-hospital telehealth system in New Mexico over a three-year period.
“The project is helping CMS study the impact of providing telemedicine for critical care services in rural areas. By delivering critical cerebral emergency support services, we enable hospitals to provide patient care in a local facility without needing patient transport to larger distant hospitals. We also realized important gains in associated hardware sales.
“The strong gains in our Specialist Services segment partially offset revenue declines in our Radiological and Cardiological services that reflected pricing pressures and customer losses in 2015 in a highly competitive market place. Indications are the two segments will remain reasonably stable in 2016. We began offering behavioral medicine services in April 2015 and we expect revenues in this category will increase moderately during 2016.
“Our debt free balance sheet is an indication of our commitment to be self-funding. We worked diligently during the year to trim costs wherever possible in our effort to achieve profitability. We recorded reductions in spending almost across the board, reflecting to some degree reduced physician fees in our radiology segment and a corresponding reduction in administrative and sales staffing.
“Our confidence in the growing importance of tele-medicine as a critical element in a successful national health care system is as strong as ever. We continue to design and develop new techniques and applications that have national relevance. Our developmental pipeline is strong and we have in place steps in 2016 that we believe will be beneficial to our shareholders,” Govatski said.
Please contact Dick Govatski, president and CEO, at 505-255-1999 or firstname.lastname@example.org for more detail.