In 2018, California legislators passed Assembly Bill 2789 mandating electronic prescribing (e-prescriptions) starting January 1, 2022. With the deadline less than six weeks away, the California Dental Association (CDA) has begun endorsing iCoreRx, a HIPAA-compliant cloud-based platform by Software-as-a-Service company iCoreConnect, Inc. (OTCQB: ICCT) that fulfills the new e-prescription laws not only in California, but those sweeping across America.
Specifically, AB-2789 requires healthcare practitioners authorized to issue prescriptions to have the capability to transmit electronic data transmission prescriptions, and requires pharmacies to have the capability to receive those transmissions. The bill also requires those healthcare practitioners to issue prescriptions as an electronic data transmission prescription, unless specified exceptions are met.
The CDA is a preeminent dental association in America. Founded in 1870, the association has 27,000 dentists as members, or 14% of all dentists in the country. Getting an endorsement from the CDA for technology that meets new state requirements can certainly have lasting implications for iCoreConnect revenue streams and its tiny $19-million market capitalization.
iCoreRx is one of 15 SaaS enterprise solutions offered by iCoreConnect, all of which optimize different needs for healthcare providers. The company has a particular specialization in the dental market, where many of its products and services have received endorsements by leading organizations nationwide, including the Maryland Dental Association and Michigan Dental Association in the last three weeks.
Momentum is building for iCoreConnect, which can now add an endorsement from the biggest dental association in the world’s fifth biggest economy to its list of more than 70 agreements with state or regional healthcare associations across the U.S.
That momentum appears to be evident in the Company’s recent quarterly filing showing that third quarter financial results ending September 30, 2021, saw revenues increase by 158% while gross profit increased 269%, compared with the three months ended September 30, 2020. More info on the recently released financials can be viewed here.
"iCoreRx ensures compliance with the new law and creates a stronger workflow for our members," said CDA President Dr. Judee Tippett-Whyte in a statement on the endorsement. "iCoreRx is one of the most complete solutions to bring every aspect of the prescription writing process into one easily accessible place," she added, going on to emphasize that the service is cost effective because the design of iCoreRx means that each CDA dentist will only need one subscription for each DEA number, not one for each location they operate.
With iCoreRx, California dental providers can securely prescribe all medications, including controlled substances, from any location or on any device. The platform integrates with existing management software and comes with a bevy of benefits, such as viewing dispensed prescriptions, a built-in Lexicomp drug directory to view brand vs. generic, dosage and interactions with patients' other medications, and a feature to save "Doctor's Favorites" for commonly used medication sets, amongst other things. Doctors can check patient medication history for up to five years, and quickly and easily select medication and dosage information through a comprehensive drug directory.
Add-on options selected by the CDA include access to the California Controlled Substance Utilization Review and Evaluation System (CURES) prescription drug monitoring program and seamless Electronic Prescribing for Controlled Substances (EPCS).
"We are eager to provide CDA members across the state of California with practice management integration, prescription history information and one-click access to their state prescription monitoring program, CURES," commented Robert McDermott, President and CEO of iCoreConnect.
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