LOS ANGELES, Nov. 30, 2009 (GLOBE NEWSWIRE) -- CompuMed, Inc. (OTCBB:CMPD) (http://www.compumed.net), a medical informatics and software company, announced today that its OsteoGram(R) bone density software will be showcased at the nation's leading medical conference, the Radiological Society of North America (RSNA), November 29 - December 3, 2009, at the McCormick Place Convention Center in Chicago.
The OsteoGram is the only FDA-cleared system that enables film-based or digital x-ray devices to perform bone density tests as an indicator of osteoporosis. By utilizing widely available standard x-ray equipment, the OsteoGram has the potential to make bone density tests available and affordable to patients and physicians everywhere.
The OsteoGram will be demonstrated throughout the conference by TI-BA Enterprises (Booth #3006), one of the nation's largest distributors of Kodak/Carestream digital and X-ray film-based products. The OsteoGram is also being offered at RSNA by FUJIFILM Medical Systems (Booth #6238), Swissray International (Booth# 7332) and other OEM partners as part of their digital X-ray systems.
"During the past year, we launched a process of bringing our skeletal health products, OsteoGram and Osteometer, directly to primary care physicians with the belief that they are on the front lines for detecting patients at risk for bone disease. We altered our market channels and are partnering increasingly with organizations that focus on reaching and supporting the point of care," said Maurizio Vecchione, President and CEO of CompuMed.
Mr. Vecchione added, "As such, we are pleased to have built a relationship with TI-BA's distributor, one with national reach and stature. This allows us direct access to point of care settings."
Mr. Vecchione said that this arrangement complements CompuMed's other OEM partners, such as FUJIFIM Medical Systems and Swissray International. "Healthcare providers need to stretch equipment purchasing dollars further than ever before, so coupled with a sharp increase in the number of individuals at risk for osteoporosis, we believe the OsteoGram is well-positioned to satisfy a need in the healthcare market today."
According to the National Osteoporosis Foundation, Osteoporosis strikes one in two women and one in four men in the United States. Yet more than 70 percent of osteoporosis in the U.S. goes undiagnosed and untreated, despite the availability of safe and effective treatments that can prevent or dramatically reduce the consequences of osteoporosis.
Using CompuMed's patented OsteoGram system, healthcare providers can detect osteoporosis at the point of care in two minutes while being connected to the most accurate and up-to-date clinical and reimbursement information available in the osteoporosis testing market today. Additionally, CompuMed's OsteoCare Clinical Network supports physicians in communicating the results and benefits of bone density testing to patients and referring physicians and accessing support services offered by professional organizations, government entities and pharmaceutical firms.
According to the National Committee for Quality Assurance (NCQA), only 20 percent of women 67 years of age or older hospitalized for hip fractures currently receive either a bone density test or a prescription for an anti-osteoporosis medication in the six months after hip fracture. NCQA, through its Health Employers Data Information Set (HEDIS) initiative, is seeking to bring this figure closer to 100 percent. As part of its Physician Quality Reporting Initiative, Medicare will offer financial incentives in 2010 to healthcare providers who make progress towards this and other disease prevention goals.
Previous bone density testing solutions suffer from three major shortcomings. First, the technology is too costly and cumbersome for healthcare providers and their patients. Second, providers face an ever-changing maze of reimbursement and regulatory challenges, which have been beyond the ability of most private practices and even many larger healthcare organizations to navigate in a cost-effective way. Third, osteoporosis testing results are too difficult for many physicians and most patients to understand.
CompuMed's OsteoGram system provides physicians, hospitals and managed care organizations with the technology platform and support needed to reach these important goals. By working to overcome the key obstacles that have limited the utility and availability of previous bone density testing solutions, CompuMed is well positioned to play an important role in the fight against osteoporosis, one of today's most prevalent and yet preventable diseases.
About CompuMed
CompuMed, Inc. (OTCBB:CMPD) develops and markets products and services that combine telemedicine, medical informatics and advanced imaging. The CardioGram is one of the first telecommunication networks designed to remotely interpret electrocardiograms and is used by private practice, government and corporate healthcare providers nationwide. The OsteoGram is a noninvasive diagnostic system that provides effective and accurate bone density measurement for screening for osteoporosis and assessing hip fracture risk. The OsteoGram has significant cost advantages over other technologies in the marketplace. The OsteoGram and CardioGram are cleared by the FDA and reimbursable by Medicare. CompuMed distributes its products worldwide both directly and through OEM partners. Visit CompuMed online at www.compumed.net.
Statements contained in this press release that are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth, results of contracts and other financial results, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.