LOS ANGELES, Feb. 9, 2005 (PRIMEZONE) -- PracticeXpert, Inc. (OTCBB:PXPT), today announced that its software solutions division, PracticeOne, has entered into an agreement to provide a practice management and electronic medical records system, along with related services, to a major medical clinic located in the Pacific Northwest.
This multi-specialty clinic operates with 48 medical service providers and will have 160 staff members using the PracticeOne practice management and electronic medical records ("EMR") software. The total revenue to be generated from all services to be provided under the five year software and services contract is expected to be in excess of $800,000.
Commenting on the agreement, Mr. Mark Richards, vice president of sales, stated, "Being awarded this contract is a milestone for the company. We have sold our core practice management system to many physician's groups over the years, but this contract represents the installation that will have the largest number of users on our system. Clearly this opens up a vast opportunity for us to sell our products and services to medical facilities having large numbers of system's users on staff.
"Further, we are extremely excited that this installation will include our EMR system. We believe our EMR system is one of the premier EMR systems available, and given that it integrates seamlessly with our practice management system, we were able to provide a total integrated solution to our customer. This installation will become a showcase for many further EMR installations down the road."
Mr. Richards continued, "Tacking this contract on to other business recently signed, we have begun the year on a very positive note. In January, in addition to this contract, we signed agreements for four additional software installations; we signed on two new billing clients, a new transcription client, and entered into a number of new consulting engagements. All of this activity bodes well for our continued growth as we strive to be the administrative solutions provider of choice for business minded physicians."
About PracticeXpert, Inc.
PracticeXpert provides turn-key practice management services and technology solutions to medical practitioners that improve operational efficiencies and enhance cash flow. PracticeXpert offerings include medical billing, accounts receivable management, practice management, transcription, consulting, seminars, practice management software, electronic medical records software and related services. PracticeXpert bundles its technology applications with its billing and other practice management services to provide a complete and integrated solution to its physician customers. To find out more about PracticeXpert, Inc. (OTCBB:PXPT), visit our website at www.practicexpert.com.
Note: Any statements released by PracticeXpert, Inc. that are forward- looking, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the Company's business prospects and performances. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.