First Ever Medical Tourism Patent on its Way

Dubai, (PressExposure) April 16, 2009 -- “We did not invent medical tourism. We did not invent health insurance. But we did invent Offsurance - The technology that solemnizes the marriage of the two healthcare giants” - Reads the http://www.Offsurance.com website slogan. With the grant of April 14, 2009 as the priority date by the United States Patent Office (USPTO), Offsurance (Application No. 61169131) becomes the first and the only patent pending technology that integrates medical tourism with the mainstream health insurance industry.

Born out of the humongously high cost of healthcare in the United States, medical tourism has seen a phenomenal growth in the recent years, projected by experts to become a $100 billion industry by 2010. It is estimated that 17 million Americans will travel overseas for treatment by 2017. However, at the present time such overseas treatments are available only to the patients who are willing to travel, take risks and pay for the costs. On account of the unprecedented complexities involved in underwriting claims that are serviced by a non-affiliate foreign caregiver, medical tourism has remained outside the reach of America’s Trillion Dollar health insurance industry.

“There is a huge unmet need to bring down the costs that US employers are paying to provide health insurance cover to their employees. With an average annual per employee health insurance cost of $12,700, the US businesses are struggling to remain globally competitive. 50% of all bankruptcies and 1.5 million home foreclosures in the US are attributed to the catastrophically high medical costs.” Says Dr Fazal Raheman, CEO, MRI Limited, the company developing Offsurance. “The Offsurance technology platform was developed to meet that urgent need. It is a path breaking technology that can potentially reduce the US healthcare expense by over 50%.”

Dr. Kenneth Arrow, the Nobel Laureate in a recent article states, “the coverage, cost and quality problems of the US health care system are evident.” Offsurance scores high on all the three fronts. “There is absolutely no intellectual property precedence in this exponentially growing segment of healthcare. Because Offsurance is the first and the only pending patent, we target the grant of the patent within the next 6-9 months under the USPTO’s new accelerated examination program,” informs Dr Fazal. “With the speed with which we have developed the technology so far we are quite confident of achieving our targets not only of the timely grant of the US patent, but closing strategic alliance deals with corporate partners and investors, for the product launch.” Offsurance deploys a path breaking approach in resolving the unprecedented geographical, organizational and logistic complexities involved in integrating medical tourism with health insurance

Potential investors and corporate partners can now review the Offsurance pending patent and other documents under a non-disclosure agreement by visiting the Offsurance website http://www.offsurance.com.

About Offsurance.com Offsurance.com is a venture of MRI Limited, a British Corp. and MRI FZE, a Dubai, UAE, based technology development and consulting outfit with expertise widely ranging from inventing new therapeutics and disease management approaches to developing intangible life sciences and technology knowledge assets into commercially quantifiable intellectual properties. MRI conducts contract research for clients as well as in-house research for developing its own portfolio of intellectual properties.

Contact: Dr Fazal MRI FZE Suite 217, Twin Towers, P Box 4404, Deira Creek, Dubai, UAE +971504406369 dr.fazal@mrilimited.com http://mrilimited.com

About MRI FZE

Potential investors and corporate partners can now review the Offsurance pending patent and other documents under a non-disclosure agreement by visiting the Offsurance website http://www.offsurance.com.

Press Release Source: http://PressExposure.com/PR/MRI_FZE.html

Press Release Submitted On: April 15, 2009 at 4:29 am
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