This is the transcript from the podcast with Bob Lorsch at mymedicalrecords.com. You’ll note that at the end Bob offers you a free trial of his system by going to the site, www.MyMedicalRecords.com and sign up for an account, putting in promotion code "TryMMR". You’ll receive a 90 day free account and you can find out for yourself and get your own phone number and your own lifeline. If you want to listen to the audio, that podcast is here. For the words, and a little fesitiness (but not alot) about whether his model and his company has a shot, read on.
Matthew: Bob Lorsch is the chairman and CEO and founder of MyMedicalRecords.com. We had quite an interesting discussion yesterday. MyMedicalRecords.com is a personal health record company that has what I’ve described as pretty much the standalone model. Any reader of the blog knows that I’ve been pretty negative about the prospects for that kind of thing, and we had a rather interesting discussion. I thought we’d continue online today. So Bob, thanks for chatting with me.
Bob Lorsch: Hey, it’s my pleasure to be here. I’m looking forward to making you a believer.
Matthew: Right. So, let me get to the heart of the matter. Correct me if I’m wrong, MyMedicalRecords.com is what I would call primarily a sort of vault system where it’s got a very sophisticated way of allowing people to fax in information and submit information which it then stores in kind of a templated document management fashion. Is that roughly accurate?
Bob: It’s roughly accurate, yeah. I would describe it more as a fully functional online life storage system. Founded because of the boom in electronic medical records, but it’s really the kind of a product that will store medical records, insurance information, financial information, advanced directives, any document or information that would be necessary to an individual in an emergency from anywhere in the world, seven days a week, 24 hours a day over any Internet‑connected computer. The unique thing about MyMedicalRecords is it works off dumbed‑down existing technologies. For example, it doesn’t require interface with an EMR system. An individual who cares about their health or cares about their medical record storage can have a MyMedicalRecords account and with a fax machine and a plain old ordinary Internet connection, they can have a complete document management network of patient charts, X‑rays, film, important documents, advanced directives, wills, policies, whatever information they want to have online.
Matthew: Now that’s really the crux of the matter here. I’ve always argued that in the personal heath records space—and we’re obviously talking about a business which has yet to take off—In the personal health records space it’s going to become more like online banking. People are going to essentially get information that’s already in the system and just use their personal health records as a vehicle with which to view it. If people could watch, say, what WebMD is doing, or where Intuit is going, all they’re discussing is basically a product that’s attached to a large health plan or provider system, which is also what the companies are using Epic are doing. You know, it’s a view into other data.So you’re taking a very different approach and obviously it has yet to be resolved as to which one works.
Why do you think people would actually go the trouble of doing all that when they could get to their health plan or go to their provider at some point? Most of them are going to be offering a personal health record where they can view most of their information there, rather than why would they go to a standalone entity which they’re going to have to go to the trouble of inputting their own data and collecting information and then sending it in?
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