Published on November 25, 2009 at 5:51 AM
David H. Fater, CEO of Vicor Technologies, Inc. (OTCBB: VCRT), today announced the beta test installation of the company's application service provider (ASP) distribution model in a U.S. cardiology practice.
Vicor Technologies is a biotechnology company focused on the commercialization of innovative, non-invasive medical devices and diagnostics using its patented, proprietary PD2i® nonlinear algorithm and software to stratify patients at risk of sudden cardiac death and trauma victims in need of lifesaving intervention.
Vicor's ASP distribution model enables the seamless collection and transmission of patient ECG data to the Vicor server for analysis. Upon completion of analysis of the ECG data by Vicor's PD2i Analyzer™, the physician receives an electronic medical record and report of the PD2i Analyzer™ results. Additionally, the ASP distribution model records physician use to Vicor's website to enable automated monthly billing of physicians using its PD2i Analyzer™.
"The implementation of our ASP distribution model for beta test in an actual cardiology practice marks a milestone in our journey to commercialization," stated Mr. Fater. "This is the first step toward actual revenue generation from data analysis, as outlined in our strategic plan, and we are extremely gratified to have a major U.S. cardiology practice serving as our beta test site," Mr. Fater concluded.
Vicor anticipates completion in the near future of programming of a distribution model to be used in the collection of patient ECG data during paced exercise and controlled maneuvers, which use is reimbursable under existing CPT codes.
SOURCE: Vicor Technologies, Inc.