Companies race to telemedicine; MediXall establishes foothold in virtual and in-person solutions
FORT LAUDERDALE, FL / ACCESSWIRE / April 5, 2021 / MediXall Group, Inc. (OTCQB:MDXL), an innovative healthcare solutions provider, highlighted today how its business strategy differs from others now trying to capitalize on the $3.8 trillion US healthcare market and the telemedicine boom.
Healthcare is one of the largest and fastest growing industries in the world. It is also one of the most complex. When MediXall Group launched its mission was quite simple, make it easier. Stated Neil Swartz, CEO of MediXall Group, "Everyone around the table from consumers, to employers, providers and even our own government has struggled with understanding and explaining the complexities of our healthcare system. We see MediXall as a highway for the consumer healthcare journey. Our goal is to provide innovative solutions to reduce costs that fit our overall mission of simplifying the consumer experience."
MediXall's wholly owned subsidiary, Health Karma, built the company's first solution to the market. Health Karma is an online tool that helps consumers reduce healthcare costs and understand the complex world of health and wellness. Since the outbreak of the COVID-19 pandemic in the US, telehealth has emerged as a major tool to fight and contain the virus and ease the burden on traditional healthcare systems. Last year Health Karma introduced the Health Karma for Employer program including Virtual Primary Care to address employer needs to cut healthcare expenses and provide safe affordable and accessible healthcare for all. According to a national survey conducted by Lake Research Partners for SBM and Families USA, many businesses have had to slash benefits during the pandemic. One in three small business owners say they see healthcare as a top priority and one in five say they plan to change or lower benefits in the next few months.
"With the surge of big companies entering telehealth with the COVID-19 outbreak and the recent announcement of Amazon Care for Employers, we have had several shareholder inquiries about differentiators for Health Karma. In truth, we see this as a positive for our Health Karma for Employers product as it validates our virtual primary care offering and provides us with the opportunity to highlight our full suite of employee benefits. The fact is that we are even more than a telehealth solution and as consumers begin reentering in-person care, the Health Karma platform will guide them through the process of finding providers, analyzing costs and will also serve as a conduit for receiving prescription discounts," stated Michael Swartz, President of Health Karma, Inc.
According to a new report by Grand View Research, the global telemedicine market size is expected to reach USD $298.9 billion by 2028. The market is expected to expand at a CAGR of 22.4% from 2021 to 2028. MediXall plans to capitalize on the boom of the telemedicine market and the need for advanced technology to support recent consumer adoption, but also recognizes that in-person care is not just a thing of the past. As it pursues additional acquisitions in the healthcare sector, it will identify offerings to enhance its foothold in virtual and in-person care while keeping its core mission intact.
About MediXall Group, Inc.
MediXall Group, Inc. (OTCQB:MDXL) is a technology and innovation-driven organization purposefully designed and structured around delivering products and services to make it easier for consumers to learn, decide and pay for healthcare. The mission of MediXall Group is to revolutionize the healthcare industry by improving communication; providing better technology and support services; and enabling more efficient, cost-effective healthcare for the consumer. By approaching the entire healthcare ecosystem, MediXall creates, invests and incubates companies that embody its mission statement. For more information, please visit www.medixallgroup.com or call 954-908-3481.
About Health Karma, Inc.
Health Karma, a wholly owned subsidiary of MediXall Group, is a data-driven healthcare technology company that is on a mission to continually raise the bar of the healthcare experience by empowering people to understand and manage their entire health care journey anywhere, anytime, whether they have insurance or not. For more information, please visit www.gethealthkarma.com.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
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SOURCE: MediXall Group, Inc.
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