so i must thank the previous posters, well done guys..
see below yesterdays announcement..
thelma is now an international star..
this share could possibly double or triple in no time at all...
firstly do some serious research, im sure you find this a great opportunity..
Page 1 of 2 ASX RELEASE - 3 AUGUST 2004 THELMA to power UK Medical Billing Infrastructure ICSGlobal Limited (ICS) has made its first breakthrough into the lucrative British healthcare sector with a deal to provide its THELMA electronic healthcare transaction exchange service to British medical specialists. ICS has signed a Heads of Agreement with MackenzieHealth Limited (MHL) for THELMA to provide the central B2B infrastructure for the Electronic Consultant Accounting and Billing Service (“eCABS”), a new bureau service in the UK that will electronically process the claims from consultants (ie medical specialists) in private practice and collect payment on their behalf. The MHL alliance represents a major advance for ICS which to date has sold its service exclusively in the Australian market. Given the size and depth of the British healthcare sector, the transaction represents an outstanding opportunity to leverage ICS’s fully developed THELMA service with virtually no capital expenditure or marketing spend for ICS. ICS Managing Director Tim Murray said the MHL arrangement was among the most exciting developments in the company’s history. “We have established a strong position in the Australian market but this now gives us access to an enormous customer base but at a low cost and with low risk,” said Mr Murray. “This is outstanding news for our loyal and supportive shareholders.” Under the terms of the Agreement, MHL will pay ICS on a time and materials basis to tailor existing components of THELMA to the UK-specific eCABS requirements. ICS is then paid for THELMA to power eCABS via an annual fee and transaction fee model which, ignoring any other Australian revenue source, will see ICS profitable if eCABS can achieve just 8% penetration of the market of 30,000 consultants in the UK health system. ICS has commenced work on tailoring THELMA for eCABS. Roll out of Release 1 of eCABS is programmed to commence this November. Initial market testing carried out by MHL has received a positive response from several of the major health funds, one of which has indicated its interest in being part of the initial pilot, and from clusters of consultants already totalling approximately 6% of the market. Once THELMA is tailored to the eCABS requirements, the result will be an Internet-based billing system through which consultants can access THELMA’s centrally-hosted practice management system (PMS) functionality via an Internet browser. THELMA collects the claims electronically from the consultants and sends them via the Internet to the health funds. eCABS staff manage the accounts receivable process and at the end of each month, pay the doctors electronically and provide them with a detailed statement of their accounts. The roll out will be logistically simple as consultants are not required to buy any hardware or software, they only need a computer with a basic Internet connection. Consultants enrol to use eCABS on line, and the system is user-friendly enough that consultants can train themselves through the online Computer Based Training (CBT). Mr Malcolm Mackenzie, the CEO of MHL, said “We conducted a global search for appropriate technology to power eCABS, and were surprised and delighted when we came across THELMA because it seemed a perfect fit. Our due diligence verified this, apart from some basically cosmetic tailoring to localise the product for the UK. ICS have proved to be a very capable and responsive Page 2 of 2 partner, and we are excited about the potential for THELMA and eCABS, not just in the UK but right across the EU.” The deal with MHL is the first in ICS’s International expansion plans for THELMA. Discussions are in progress with three other countries – France, Turkey and Japan – who sought out THELMA in their global search for an electronic billing solution for their health systems. About ICSGlobal and THELMA ICSGlobal’s core business is the ownership and operation of the health industry clearing house technology THELMA (Transactional Health Exchange Linking Multiple Applications). THELMA enables health industry participants to use the Internet instead of traditional manual administration processes. The unique THELMA technology that can be configured to suit the health industry of any country. For more information visit www.icsglobal.net and www.thelma.com.au. Released by: ICSGlobal Limited. For further information or media inquiries: Tim Murray Managing Director ICSGlobal Limited Ph: (02) 9247 2111
regards
ICS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
