Patient Access Solutions, Inc. is in the business of providing technology solutions to the healthcare industry, specifically through Electronic Medical Records (EMR) management. Patient Access offers the PASHealth Web Portal System, including Digital writing capabilities (D-PAS), which is a total healthcare transaction processing solution. The PAS Web Portal System improves processing efficiencies and significantly reduces administrative expenses for physicians, hospitals, medical centers, clinics and the insurance payers. It includes the Claims Analyzer, the Payment module and D-PAS.
Patient Access believes that, even today, handwritten documentation still serves as one of the most fundamental and reliable ways of capturing patient information. D-PAS utilizes digital pen & paper, a component of Anoto technology, to capture handwritten information, transfer it into a digital form and utilize the data to initiate workflows in a secure environment. Patients’ medical histories and patient records are securely used to initiate necessary workflows digitally, securely and much more efficiently, empowering the healthcare business process.
D-PAS utilizes a digital pen and paper technology, which is easy to use, has a low cost-of-ownership, and is unobtrusive to business processes. All the information written is captured electronically, transmitted to a central processing server via the Internet, and made available to back office and document management systems immediately. Data can be transmitted in two ways. The pens are Bluetooth-enabled and can be paired with approved cellular devices, where data is routed through a secure connection back to the server. Additionally, based on business requirements, the pens can be docked in a USB cradle attached to a PC or workstation, which will also send the data back for processing if real-time data is not required.
Patient Access argues that the digital pen technology is more “green” than running a laptop for 8 hours daily for immediate data entry, and easier to get individuals to adopt since it does not require a change of behavior. The doctors, nurses and staff still write as they always have. The company has shown promising statistics of the accuracy of handwriting recognition within their software, which has always been the biggest hurdle to any digitizing effort using pen technology.
Patient Access is trading around $.95 today near its 52 week high of $.98. The 52-week range for Patient Access is $.60 to $.98 on average volume of 245K shares. In recent news, the corporation announced that sales were up 80% year over year.
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