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                        Richard Berman 647-294-8372, richard@verbfactory.com
                                                                     

TailorMed launches Remote Navigation solution to enable hospital staff to help their patients from afar and ensure that healthcare providers can recover lost revenues

TailorMed expands ways for healthcare providers to maintain revenue and reduce patients' financial burdens during COVID-19 crisis

NEW YORK, April 16, 2020 -- TailorMed today launched the Remote Navigation solution as part of its unique and industry-leading financial navigation solution. It is the first of its kind to enable healthcare providers and their staff to remotely work with patients to ease the patient's and hospital's financial burden. The new product also helps healthcare providers quickly access TailorMed's much larger suite of financial navigation technology and services currently available to TailorMed's 50 client hospitals and medical practices.

"Telehealth solutions have been adopted in the last few years in various areas of care and we believe that financial navigation should be no different. Our Remote Navigation tool is a first of its kind solution, combining our state-of-the-art software platform with a fully remote turnkey service ready to install immediately. We are now making it available to every healthcare provider in America," said Srulik Dvorsky, CEO and Co-Founder of TailorMed.

The outbreak of the coronavirus (COVID-19) has already led to the deaths of thousands of Americans while leaving tens of millions without work and at risk of losing healthcare coverage. Millions of Americans are already struggling under the weight of financial toxicity caused by the costs of chronic and critical medical care.

The financial pressure on healthcare providers to provide services under these conditions is also causing massive financial stress and declining revenues. Increasing out-of-pocket costs for COVID-19 patients and the recently uninsured are also a major threat to the financial stability of healthcare providers and patients alike.

"COVID-19 has led to millions losing their healthcare coverage and income while the US has reached peak unemployment rates. At the same time, healthcare providers are scrambling to provide healthcare and maintain operating revenues. Patients will be saddled with massive out of pocket costs that put them in financial peril. That's why we've launched Remote Navigation, to make our unique tools and services available to more healthcare providers at exactly the moment they need it," said Dvorsky.

Dvorsky, when speaking about this challenge said, "Patients with existing medical conditions are asked to stay at home and their ability to get access to care and financial assistance services is severely restricted. This requires a new approach."

He added, "We offer remote solutions to let healthcare providers focus on providing care while we have removed the barriers of installing and financing a new I.T. system. We are able to go live and help healthcare providers immediately."

TailorMed's Remote Navigation solution is helping to meet this need right now. Through remote access to TailorMed's software and TailorMed's financial navigation teams,  healthcare providers and their staff can now help even more with maximizing their revenues by finding different and new financial resources to offset the costs from patients to other entities that will cover the bill.

"Healthcare providers ask their financial navigators to help hundreds or thousands of patients at a time. We automate time-consuming administrative and research work - and in the end - we help reduce financial burdens on patients facing extensive health care costs and help healthcare providers recover more revenue for the care they provide," added Dvorsky.

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About TailorMed

The TailorMed online platform is an end-to-end solution that streamlines and automates the financial navigation process. It uses advanced analytics to identify financial assistance and offer personalized funding opportunities, with the ability to enroll patients in these programs. A complete solution – TailorMed offers a full range of services including patient financial navigation over the phone or video, provided by leading Financial Navigators from across the country and the ability to enroll patients into hundreds of programs.