DEERFIELD BEACH, Fla., March 24, 2004 (PRIMEZONE) -- NursesSTAT(r), an innovative healthcare management solutions division of iBX Group, Inc. (OTCBB:IBXG), said today that it has added several new services in order to better meet the needs of its clients in the healthcare industry and to maximize new business opportunities.
Through its new clinical data research arm, NursesSTAT has formed a strategic alliance with Capsicum Group, LLC -- a Philadelphia-area management consulting firm specializing in technology delivery, disaster planning and business continuity, electronic discovery, digital forensics, HIPAA compliance, privacy and security, and risk management -- to deploy a data collection application for the pharmaceutical industry.
"Our partnership with Capsicum will enhance our abilities to perform consulting projects on behalf of healthcare companies whose focus is on distribution of pharmaceutical products," said Brian Virgo, Managing Director for NursesSTAT. "One current project involves analysis of profitability for various drug delivery methods, and we believe this relationship will open the door for additional opportunities to perform clinical data research for drug distribution."
Virgo said NursesSTAT will continue to provide healthcare facilities with technological solutions that help them better utilize their internal nursing pools, reduce dependence on expensive staffing agencies and improve retention rates by providing staff nurses with greater autonomy and job satisfaction. The company's proprietary Supplemental Staffing Technology(tm) allows staffing administrators to fill nursing vacancies online through the use of two-way communication devices, such as PalmPilot and BlackBerry.
The company's healthcare staffing arm helps to further alleviate shortages by providing cost-effective, qualified temporary personnel to understaffed facilities. NursesSTAT is currently working to finalize the acquisitions of two healthcare staffing companies in Louisiana and a third in western Michigan that will help the company to more effectively meet seasonal staffing needs in the Midwest and other regions that experience serious shortages at certain times of the year.
"Healthcare facilities are experiencing an average 12 percent vacancy rate, a shortage of about 165,000 nurses," Virgo said. "As baby boomers age, that number is expected to grow to more than 500,000 during the next two decades, which presents an enormous opportunity for agencies such as NursesSTAT that are developing effective solutions for this critical issue."
Based in Deerfield Beach, Florida, iBX Group Inc. develops and deploys creative, cost-effective methods for integrating financial, administrative and information services for the healthcare industry. iBX is a results-oriented company, consisting of five divisions -- iBX Technologies, which enables healthcare organizations to maximize collections of their accounts receivables; Florida HealthSource, a network of physical therapy and wellness centers; MediCompliant Solutions, which ensures medical practices' compliance with today's complex legal requirements; iBX Transcription Services, which offers physicians quick turn-around and Web-accessible progress reports; and NursesSTAT, a revolutionary temporary staffing solution. The company also owns SportshealthNet.com and TheNetDigest.com, interactive Web portals providing patients with comprehensive healthcare information and advice, and increasing physician referrals.
This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. This release contains certain "forward-looking statements and information" (as defined in the Private Securities Litigation Reform Act of 1995) concerning iBX Group, Inc. that are based on the beliefs of iBX Group, Inc.'s management, as well as assumptions made by and information currently available to iBX Group, Inc. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in iBX's filings with the Securities and Exchange Commission.