FOR IMMEDIATE RELEASE
David W. Moskowitz MD
ST. LOUIS—November 16, 2009—GenoMed® (OTC Pink Sheets GMED.PK), the Public Health Company™ that is pioneering Next Generation Disease Management, announced today that it can save Medicaid $32.5 million by June, 2010.
Like many states during the current Depression, Missouri’s revenues have fallen far short of expenditures. As a result, Governor Jay Nixon has recently cut over $600 million from the state budget, including $32.5 million from Medicaid, primarily by reducing payments to nursing homes and home health agencies.
GenoMed has identified a way to effect the same savings, while actually improving patient outcomes.
Missouri Medicaid currently spends 35% of its total budget on acute-care inpatient hospitalizations, or $1.5 billion. The national average is 25%, meaning that Missouri spends a lot more of its Medicaid budget on hospitalizations than most states. If elderly patients could be kept healthier and out of the hospital, Missouri Medicaid costs could be slashed. GenoMed’s cutting-edge, genomics-based medicine can accomplish this.
Said David Moskowitz MD FACP, GenoMed’s CEO and Chief Medical Officer, “Two diseases in the elderly consume an extraordinary amount of money: heart failure and emphysema. Every time a patient goes to the Emergency Room for shortness of breath, it costs around $10,000. If they’re admitted to the hospital from the ER, it can easily cost $50,000. These patients are easy to identify and to help. We’ve published how to keep patients with heart failure and emphysema out of the hospital by delaying the progression of their disease.”
Dr. Moskowitz ended by saying, “We’d like to be able to prove ourselves here in Missouri, the Show Me state. Next year’s budget shortfall is projected to be even worse. WIth healthcare costs rising so fast in the US, and state revenues falling, all 50 Medicaid offices should be interested in GenoMed.”
About GenoMed (www.genomed.com)
GenoMed is a Next Generation DM™ company that aims to deliver the best patient outcomes at the lowest possible cost. GenoMed is already trying to arrest diabetes, hypertension, heart failure, and emphysema in the Philippines, a developing country with far less resources than Missouri. GenoMed intends to be the Disease Management company of choice for Medicaid and Medicare.
Safe Harbor Statement
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