Walters stated that the company should be able to achieve high double-digit sequential growth over the next 24 months. In Brazil alone, approximately 48 million people have private healthcare insurance and with its recent contracts, Transax has since signed agreements to process over 2,500,000 transactions per month and will process over 200,000 transactions in June.
The introduction of the MedLink solution to the Brazilian market is going to be a model for our success. We plan to capitalize on this opportunity in Brazil to form other joint venture agreements with private health insurance companies and healthcare technology providers on a global basis, Mr Walters said at a recent conference call with New York-based Empire Relations Group.
We truly believe that our leading software solution coupled with a world class business partner such as BearingPoint, will give us a significant advantage over our competition in our target markets.
Transax is now the premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the real-time automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer.
Transax MedLink solution was specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance
Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in real-time.
