With its proprietary suite of services, Net Medical Xpress Solutions, Inc. (OTC: NMXS) has been partnering with various healthcare facilities, hospitals and clinics to provide extensive, customized solutions for the rapidly expanding multi-billion dollar telemedicine industry. In 2021, the company achieved outstanding progress as it capitalized on increasing demand for COVID-19 rapid testing. Aside from the massive growth of its Telemed platform, NMXS is one of the telemedicine stocks on investors’ radar as speculation of a government contract rises along with the company’s new roadmap for the year. With a low float of only 10 million, NMXS has been flying under the radar for far too long.
NMXS Stock News
Initially a web-based digital storage application, NMXS has been applying techniques from digital asset management to create successful and secure telemedicine solutions. For years, NMXS has been making notable investments in its proprietary software and now the company operates ahead of the market in terms of functionality. This competitive edge is largely due to its patents – which are protected as trade secrets – as well as its proprietary suite of services.
For over 12 years, the company has worked with the University of New Mexico under a $15 million grant to establish a state-wide neuro-emergent telemedicine network along with the UNM Medical Group ACCESS Telemedicine program. This partnership has proved lucrative with over 11 thousand neuro and neurosurgery consults performed to date. To enhance this growth, the company has expanded the ACCESS program to provide ED, inpatient neurology, cardiology consults, and pediatric programs as well.
In early 2021, NMXS introduced its New Medical Labs division, designed to capitalize on demand for Covid testing services. Providing both molecular and antigen testing, the division has evolved to offer curbside testing, a mobile lab, and a specialty lab. This lab is now the preferred national provider for BioFire PCR Multiplex laboratory testing – a testament to the company’s attention to quality.
BioFire Diagnostics has set the standard for molecular diagnostics for more than 25 years with an advanced system that provides comprehensive results to expedite patient care. The company offers one of the most comprehensive target menus including overnight transport for respiratory, blood culture, gastrointestinal, as well as bone and joint testing.
In light of this, NMXS was granted a CLIA certificate of waiver that enabled the company to perform on-site testing for employees and employers with the Abbott Labs BinaxNOW antigen tests – a globally-recognized rapid Covid-19 test. With this new on-site testing program for COVID-19 in place, NMXS is able to provide a full COVID-19 testing bundle with FDA authorized on-site testing.
In light of Net Medical Labs Division’s growth, the company achieved third place for the FDA designathon TOPx project – a project designed to accelerate the development of digital health tools that will capture and securely transmit data from COVID-19 diagnostic tests. Following this, NMXS’ reporting platform was accepted in the WATERS (Wireless Automated Transmission Electronic Reporting System) federal database – the reporting repository for all COVID-19 testing throughout the US. As one of only 12 companies to achieve this, NMXS is quickly gaining the attention of many investors.
This aside, NMXS already has a competitive edge over other telemedicine companies because of its Telemed Platform – NMXS’s core system which allows it to build a customized telemedicine management system for each client. After decades of development, NMXS’s HIPAA-compliant Telemed Platform allows healthcare providers and patients to consult with high resolution connectivity. Additionally, this platform offers the largest network of on-demand virtual specialists which will help make NMXS a go to service for patients seeking tele-care.
In light of this, Telemed could be widely utilized by companies exploring ways of providing telemedicine services with a secure portal. For instance, healthcare organizations can use Telemed for consultation for different conditions including neurology, cardiology, neurosurgery. As a SAAS, Telemed can be used by organizations to integrate the platform with secure SMS messaging for broadcast messaging, digital signatures, and more accurate case study analysis.
Going forward, NMXS has announced its plans to form partnerships across the industry to develop comprehensive solutions for people suffering from COVID’s long term effects. With a rapidly growing number of patients relying on telemedicine, NMXS has the opportunity to capitalize on this new sector. Additionally, 2 million Covid-19 tests are conducted daily in the US and this number could increase as its variants re-emerge as a public health threat. With this in mind, NMXS expects major demand for its Net Medical Labs services’ for the foreseeable future.
Media Sentiment
Looking at NMXS’ market cap of only $2 million, @Jcazz17 and other investors believe this is one of the most undervalued telemedecine stocks given its $15 million grant.
@slfairless highlights how NMXS is outperforming other telemedicine stocks with its fleet of vans for Covid-19 testing.
Technical Analysis
NMXS is currently trading at $.063 with a primary resistance at .0699 and a secondary resistance at .0885. It shows a primary support at .0508. Accumulation remains very low as this stock has very low volume. The RSI is currently at 49 and the MACD is bearish.
These indicators show how clearly undervalued NMXS is. Trading on such low volume and with a float as low as 10 million, NMXS could move rapidly with more PR from the company. Investors who have discovered NMXS are holding it long-term as telemedicine stocks are expected to become major players in the medical industry.
NMXS Stock Forecast
With strategic plans to continue growing in this developing industry, NMXS is already well on its way to cementing its place as a regional telehealth services provider thanks to its Telemed platform and its New Medical Labs status as the national provider for BioFire PCR Multiplex laboratory testing.
NMXS could be among the most unknown telemedicine stocks on the market, but considering the expected demand for COVID-19 testing NMXS is well-positioned to capitalize on this industry. Aside from its $15 million grant from the University of New Mexico, some investors are speculating NMXS could become a government contractor as it continues to perform testing for residents of New Mexico. As a low float stock, NMXS and its shareholders are waiting for PR from the company’s management to send it past its current resistance and bring volume to the stock. Currently, investors rely on the company’s investor newsletter to stay up to date, but this could soon change.
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