Epazz Patent Pending Blockchain Electric Health Care Records Technology Will Help Prevent Data Breaches and Will Support Hyperledger Standards
Recent US Health and Human Services report on health care data breaches Demonstrates the Need for Our Technology
CHICAGO, Oct. 17, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Epazz, Inc. (OTC: EPAZ), a leading provider of blockchain mobile apps and cloud-based business software solutions, announced today that the company’s patent pending Blockchain Electronic Health Care Records Technology will support Hyperledger standards. Hyperledger is a wide-use open source blockchain solution. Epazz has been using Hyperledger solutions to speed the development of its new blockchain products. The company has been providing electronic health care records cloud software for over six years.
Our patent pending technology will help curb the number of health care data breaches that occur. According to a report from the U.S. Department of Health and Human Services (HHS), there were over 477 health care data breaches in 2017, which affected over 5.579 million patient records. The breaches cost $408 per record. Epazz believes that by using blockchain technology, records will be distributed across the blockchain and will have a level of encryption that can only be unlocked with the patient’s digital key. The company will be developing application programming interfaces, which it will license to other EHRs (Electronic Health Records providers), hospitals and payers.
An article from the Milwaukee Business Journal, “How Blockchain technology is transforming healthcare cybersecurity,” provides more details on how blockchain technology offers many benefits for cybersecurity.
Epazz CEO, Shaun Passley, Ph.D., said, “We are expanding the possibilities of our cloud health care software with the new usages of blockchain to provide our current customers and potential customers greater flexibility and functionality. We believe these efforts will help us increase revenue.”
Epazz reported its unaudited second quarter results for 2018. The company reported revenue of $386,961, compared with $385,163 for the second quarter of 2017. The company reported an operating income of $35,963. This is a substantial turnaround in the company’s financial position. Additionally, the company’s interest expenses have substantially decreased, dropping from $50,973 for the second quarter of 2017 to just $20,062 for the second quarter of 2018.
About Epazz, Inc. (www.epazz.com)
Epazz, Inc., specializes in enterprise cryptocurrency blockchain mobile apps and cloud business process software, with more than 500 repeat customers. The new Bitcoin Mobile app is a financial technology company that offers unique software that allows consumers to acquire Bitcoin at the point of sale. The consumer can then use the cryptocurrency or digital currency to make a purchase at the store with ease. Epazz technology makes it easy to convert legacy systems into cloud business process software, for which the company then charges an annual subscription fee. Epazz has acquired 11 software companies that have converted or are in the process of converting their legacy software products to cloud software using Epazz technology. Epazz then markets the new cloud-based solutions to new and existing customers. Epazz’s other products are DeskFlex™ (a room scheduling software) and Provitrac™ (an applicant-tracking system).
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by their use of forward-looking terminology such as “may,” “expect,” “intend,” “estimate,” “anticipate,” “believe” and “continue” (or the negative forms thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Epazz, Inc. assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Epazz, Inc. Investors are encouraged to review Epazz, Inc.’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.
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