New Mexico Software, Inc. (OTCBB: NMXC), a leading services provider of next-generation business and medical services, issued this letter today to shareholders and stakeholders of New Mexico Software to provide an update on significant business activities at the Company:
It’s been almost a year and a half since we formed Telerad Service, Inc., a wholly owned New Mexico Software subsidiary. During this first full year, we’ve added multiple new customers and we have improved our business processes with the help of our whole team. Because of a great combination of engineering, customer service, accounting, operations and sales, we’ve grown our business significantly. Holidays are normally very slow for us. But on Labor Day, we did three times the business we did on Labor Day in 2008. The numbers were not as high for us as they are during a regular workday; however, the improvement in business on a comparative basis was significant.
If you have been an investor in NMS, you’ve seen our financial statements improve significantly over the last year. You’ve seen steady growth on the top line – a reflection of the integration of the software business with our medical service business. Our software activity has dramatically evolved from when we started 10 years ago to a much different role in 2009. Our software efforts are now focused on medical software, which is the engine for our medical service business. In other words, the intellectual property developed over the past decade has found an ideal market.
The medical community is in an unsettled position. But we now have many of the answers. In fact we’ve developed solutions to the cost cutting and efficiency requirements in demand by the healthcare industry.
The bottom line is, no matter how the current healthcare debate turns out, we’ve created an efficient medical service company that will have value for the marketplace.
Shortly, we will formally announce this new marketing program called “EXpress Medical Services.” EMS is our total approach to packaging our Telemedicine products. The program will cover:
XR-EXpress – our FDA 510k cleared PACS (Picture Archiving and Communications System), which is being used for all of our Telemedicine activities.
TeleRad EXpress Service – our Teleradiology product that will continue to provide readings of CTs, X-Rays, MRIs, and Ultrasounds.
TeleCardio EXpress – our brand new Cardiology product that will handle Echocardiograms and EKGs as a Telemedicine product.
TeleClaims EXpress – our medical billing system for customers to be able to integrate their billing systems with XR-EXpress.
TeleQA – a radiology quality assurance program that is offered to companies either with TeleRad Express medical services or through a company’s own Telemedicine product.
TeleDispatch – a new product that offers registration services or electronic medical record information that will tie into billing programs.
XR-EXpress iMedcon module – that is specifically designed for neurologists to view CT scans from remote hospitals. Currently almost half of the hospitals or clinics have signed on to iMedcon in New Mexico. All major hospitals in Albuquerque use the iMedcon module for patient CT viewing and collaboration.
These products are integrated into our EXpress Medical Services (EMS).