Enter Your Email Address to Receive a
Copy of MedicExhange Member Demograhpics

Open EC Technologies announces its subsidiary SoftCare EC Solutions Inc has executed a letter of agreement with NetCare Administrators, LLC, ("NetCare") in Brookings, South Dakota to implement a recurring revenue based HIT solution .

Open EC Technologies, Inc. is pleased to announce its subsidiary SoftCare EC Solutions Inc has executed a letter of agreement with NetCare Administrators, LLC, ("NetCare") in Brookings, South Dakota to implement a recurring revenue based Health Information Technology (" HIT ") solution.

SoftCare has been selected as the Prime Contractor to design, develop, source, implement and operate the NetCare Health Information Technology ( HIT ) systems and will share in the licensing and recurring revenue generated from the NetCare transaction and subscription revenues.

NetCare's immediate strategic plan is to expand its Preferred Provider Organization (PPO) network of 600 HealthCare Providers to 6,000 with the addition of Group Purchasing of Medical Practice Consumable Products, Patient Health and Nutritional Products, Claims Processing and Billing Services, Software as a Service ( SaaS ) medical billing and records software. The long term strategy is to expand the NetCare solution to a national program to be available to an estimated 50,000 Chiropractic Practice members in the United States.

Martyn Armstrong, CEO of Open EC states: "SoftCare's agreement with NetCare will position and strengthen our recurring transaction services business and grow our market share in the US HealthCare Industry. Our business plan is to aggressively develop our network of PPOs and Independent Provider Organisations (IPAs) to step up our revenue, presence and market share in the US HealthCare Information Technology (" HealthCare IT ") sector."

Jeff Smith, CEO of NetCare Administrators States: "The excellent strategic fit with SoftCare will strengthen both companies' market presence and increase our combined recurring revenue opportunities in the HealthCare Group Purchasing, Healthcare IT and Revenue Cycle Management solutions to our growing network of HealthCare Members. Our company will directly benefit from SoftCare`s advanced technology and Healthcare IT expertise to grow our business from a Regional to National Preferred Provider Organization.

The US HealthCare Industry spends $150 Billion per year on Claims Submission, Processing and Adjudication Transaction/Processing Fees and $60 Billion on institutional medical supplies, where SoftCare EC Solutions (Open EC's operating subsidiary) will provide group purchasing solutions for an administrative fee based on a percentage of the total NetCare member purchases and claims management solutions based on recurring subscription or transaction fees.

Source: Open EC Technologies, Inc.

Click on the link to see more Software as a Service (SaaS)