Fort Lauderdale, FL, Jan. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- MediXall Group, Inc. (OTCQB: MDXL), a healthcare technology company based in Fort Lauderdale, Fla., is pleased to provide a Shareholders Update Letter from Neil Swartz, CEO.
To our Valued Shareholders,
I would like to start by thanking each one of you for your continued support in MediXall. This past year has been the most difficult year in the 21st century with the outbreak of the COVID-19 pandemic. We look to the future with hope for a pandemic free society and we wish you all a healthy year ahead! I would like to take this opportunity to update you on our 2020 progress and 2021 outlook.
New Products
As background, I would like to briefly recap MediXall’s history. From day one our vision within MediXall has been to take the complexity out of healthcare. We recognized that this was no small task and began executing our plan to build an online platform for the consumer to learn, decide and pay for healthcare without intruding on the trusting relationships with doctors. We successfully launched our first generation of the product, MediXall.com in 2019. Our goal was to make the experience of selecting a healthcare provider as easy as booking a flight on Expedia.
While building out the technical infrastructure to support a nationwide product offering, we utilized our feedback data from the MediXall platform to create a comprehensive personalized healthcare platform which will provide consumers the ability to thoroughly understand and track their healthcare plans, find experienced doctors, estimate costs, book appointments, and even pay for those appointments online. The new product offering, Health Karma™, beta launched in August of 2020 with access to 1,000,000 healthcare providers and connections to healthcare insurance policies nationwide creating a streamlined way for consumers to find quality, affordable care regardless of insurance coverage. Research has shown that more consumers are focused on convenience and cost. Health Karma is a platform that uses the power of big data to pair transparency with personalization, giving consumers a clear, robust view of care options, enabling them to get the most out of their healthcare. I am extremely proud of our team as they worked tirelessly throughout the pandemic to build and test the Health Karma platform. I am happy to report, as was previously announced, that in November we successfully completed a nationwide launch of Health Karma.
COVID-19 has changed America’s perception of digital healthcare solutions. It has helped to create trust in online healthcare platforms to educate and deliver services. This has created an even greater opportunity for Health Karma to become a leader in digital healthcare management.
Even with 2020 being a challenging year, we are extremely proud of all the achievements that the MediXall and Health Karma team have made. We also genuinely appreciate your involvement and the trust you have placed in our team throughout this entire process. As we look to the first month of 2021 our goal is to launch Health Karma for Employers to the public which will empower employers to provide affordable, high-quality healthcare benefits to all of their employees, whether they are eligible for health insurance coverage or not. In October, we were excited to announce that Oxford Property Group, one of New York's largest brokerage firms with over 800 agents, has selected Health Karma to help their agents better engage and navigate their healthcare through personalized insights. Oxford agents can think of Health Karma as their personal hub for all things health and wellness. They can actively and confidentially manage their healthcare anywhere, anytime, whether they have insurance or not.
Partnerships
In June we were excited to announce our partnership with MeMD, one of the leading telehealth companies in the nation. Through the Health Karma platform, patients nationwide will be able to receive virtual visits powered by MeMD for common medical issues, as well as telebehavioral health services for emotional and mental health concerns. Today, MeMD is trusted by more than 30,000 corporate, institutional and health plan partners nationwide, delivering medical and therapy visits to 4.5 million members nationwide.
In addition to MeMD, we also announced a new partnership through Health Karma with Lively, a top-rated modern Health Savings Account. This partnership will deliver a much-needed upgrade to HSAs by pairing Lively's tax-free savings account and technology with Health Karma’s personalized technology that makes healthcare and benefits easy to understand.
Leadership
In August we were pleased to announce the formation of our health insurance advisory board. The members of the board work closely with our leadership team to consult on business strategy and sales, marketing, project plans, as well as identifying additional market opportunities and new strategic partnerships for the company. They are highly respected in the healthcare industry and bring with them a wealth of knowledge and experience across many dimensions of healthcare. From entrepreneurs who have built multi-million-dollar companies to recipients of prestigious health insurance awards, they span diverse disciplines and provide invaluable insight into the complex world of healthcare.
In October, the President of Health Karma was selected as an honoree for the First Annual South Florida Business & Wealth (SFBW) Excellence in Healthcare Awards. The Excellence in Healthcare Awards is a unique awards program created by SFBW magazine to celebrate South Florida’s leadership as an international epicenter when it comes to quality and innovation.
We were also happy to announce several key internal promotions over the past year within the MediXall management team.
Communication and Investors Relations
As a company we are committed to providing updates to our shareholders. Our plan is to update MediXall’s corporate website in the first quarter of 2021. In addition, our goal is to increase our transparency to the marketplace by providing more frequent updates on our accomplishments and forward progress.
Moving forward in 2021
Our product offerings, strategic partnerships and expert leaders have set the foundation for our future growth. With the successful nationwide launch of the Health Karma platform, we are now ready to begin cultivating our revenue streams tied to this product offering. Through the initial controlled launch of the MediXall.com marketplace and the more recent Health Karma beta launch, we were able to successfully implement and refine our acquisition and engagement strategy to attract and convert both providers and consumers into active users. This also served to provide invaluable insight into increasing provider adoption and acceptance of our paid services. We generate financial return primarily on the supply side of the marketplace. Our revenue model is built on provider fees and subscription components as well as partner product and services revenue shares. By continuing to build a robust and engaged user base, it provides us with the infrastructure to source multiple revenue streams. We have reached a significant milestone and are eager to move ahead into 2021 with our focus on customer acquisition, activation, and engagement.
We will emerge from the Covid-19 pandemic stronger in our convictions to build healthcare solutions. As we look toward additional opportunities, our forward path is focused on building value to our shareholders and to our society.
Thank you for being part of our journey. We are so very thankful for your continued support and look forward with excitement to 2021.
Sincerely,
Neil Swartz
MediXall Group, Inc. CEO
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, without intruding on the important relationship with trusted doctors. The mission of the MediXall Group is to revolutionize the medical industry by improving communication; providing better technology and support services; and enabling more efficient, cost-effective healthcare for the consumer. By approaching the healthcare ecosystem as a whole, MediXall creates, invests and incubates companies that embody its mission statement. For more information, please visit www.medixallgroup.com or call 954-908-3481.
Safe Harbor Statement
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.
Carly Todd
ctodd@medixall.com