Mr. Cox commented: "As part of a comprehensive study of the e-health industry, Hambrecht and Quist asserted that health care, the single largest industry in the United States, remains rooted in paper processes and communication systems reminiscent of an era that existed before the information revolution. H&Q estimated that health administration costs exceed $300 billion annually.
"They further estimated that existing technologies, on-line processes, automation tools and transaction processing solutions can eliminate over 50 percent of those costs. Additionally, hundreds of billions of dollars per year are needlessly expended because information is currently trapped in proprietary silos and cannot be readily retrieved and communicated. E-health technologies and systems are the obvious solution to release that information and digitise the paper roadblock."
Mr. Cox continued: "Companies, such as CareDecision, are primed to contribute savings to health care from currently available e-health technologies that are projected to exceed $40 billion by the end of 2005. The e-health industry is poised to grow from tens of millions in total annual revenue production currently to $10 billion in four years. CareDecision believes that it is well positioned to acquire a minimum 5 percent market share of that $10 billion market."
Mr. Cox concluded: "Market dynamics, governmental pressure, and fundamental patient care realities will become the catalysts that drive the transition from the current delivery system to the adoption of the new automated e-health technologies. The technologies have been designed, the products have been developed, their value has been documented, and the demand has been ignited."
CareDecision Corporation is engaged in the introduction of a portfolio of advanced e-health technologies. The CareDecision Corporation technologies were engineered by a team of visionary executives and developers whose 100 years of collective experience forged the backbone for successive generations of technological innovations dating back to the inception of the e-health industry. Notably, CareDecision Corporation's officers have founded and/or held senior management positions with other successful publicly owned companies. More company news is available in the VMW October 2002 article CareDecision Corporation introduces wireless voice command medical PDA.