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TWST: What is Zix Corp?
Mr. Spurr: ZixCorp is a leading provider of hosted electronic services
that protect and secure the transmission of sensitive information.
Specifically, we have two core services, one of which provides
encryption for e-mail and attachments in various industries, primarily
financial services and healthcare, and the other of which is electronic
prescribing, or e-prescribing, which, by its nature, is a healthcare-
focused service. We are the only significant provider of e-mail
encryption as a hosted service, which, when you think about it, means
we're extremely scalable and easy-to-deploy relative to our competition
in this space, in addition to the fact that having ZixCorp host the
service means that it's easier on the customer because they don't have
to handle encryption key management and there's an overall lower cost of
ownership. In today's business environment, securing communications has
become vital, whether because of a regulatory mandate from rules such as
the Health Insurance Portability and Accountability Act (HIPAA) or the
extreme reputational risk from suffering a security breach, which is
obviously something that's been in the news recently. ZixCorp makes
managing the security of e-mail communications easy for the company,
which can set enterprise-wide policies, as well as the end-user, who
benefits from our lexicons that can screen e-mails and attachments for
sensitive information and automatically encrypt them without any further
action from the sender. Our other service offering is e-prescribing.
This technology allows a physician to send a prescription electronically
from a handheld device directly to the pharmacy, which yields two kinds
of benefits. Prescribing drugs is one of the last paper-based processes
in the country, so e-prescribing offers the benefits that come from
automating any process, in this case things such as increased
legibility, faster transmission for greater convenience, a more
efficient renewal process, etc. But there are also benefits derived
from access to information at the point-of-care previously unavailable.
During the prescribing process, the physician can obtain real-time
information on insurance eligibility, the insurance company's preferred
drug list or formulary, and the patient's history of previously
dispensed drugs. Having the physician able to tap into this information
during the decision process allows him or her to perform such tasks as
check the new drug against previously dispensed drugs or known allergies
for potentially dangerous interactions or see alternative drug options
that may be less expensive for the patient and the payer. Our flagship
customer for this service, the eRx Collaborative, led by Blue Cross Blue
Shield of Massachusetts, has documented through their own actuarial
analysis the beneficial impacts of e-prescribing on their prescribers,
including a 1.5% cost savings from better formulary compliance and
higher generic substitution, as well as an average per active prescriber
of three potentially harmful prescriptions being changed each month due
to an alert for an adverse interaction, so this technology is having
real, measurable benefits for its users.
Tickers included in this excerpt: ZIXI
For more information call (212) 952 7433. The
Wall Street Transcript does not endorse any of the comments made by interviewees, and does
not make stock recommendations.
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