Millennium Healthcare Inc. Enters Chronic Care Management Market
(firmenpresse) - MELVILLE, NY -- (Marketwired) -- 03/17/16 -- (OTCQB: MHCC), a healthcare services and medical device distribution company, today announced that the Company has launched a new service offering in the Chronic Care Management (CCM) market. The new service offering would enable Millennium to leverage recent changes in the CCM market to increase revenues without the requirement of large capital expenditures and expenses. The Company has identified and anticipates rolling out the new service within approximately 100 physician practices during the remainder of 2016.
The Centers for Medicare and Medicaid Services (CMS) started authorizing provider reimbursement for non-face-to-face care given to chronically ill Medicare patients with two or more chronic conditions. The 2015 Medicare Physician Fee Schedule (PFS) will now pay for non-face-to-face services for CCM. For the first time, physicians will be compensated for managing patients'' chronic conditions outside of regular office visits. CMS identified chronic conditions as a leading area where improved care could have a large impact on curbing disease, improving health and lowering costs. Non-face-to-face care includes any time providers spend on their patient''s care plan outside of a patient visit, such as communicating with other providers on behalf of the patient or managing the patient''s care over the phone or via a secure online communication tool. This care also includes time spent by other clinical staff members supervised by the provider, such as physician assistants and clinical nurse specialists.
The CMS Chronic Care Management (CCM) program is an opportunity for both primary care providers and specialists to create new revenue while increasing the amount of preventative care they can provide their chronically ill Medicare patients. This can increase physician practice revenue without the need to see additional patients and without the need to be a certified Patient Centered Medical Home. CMS anticipates that its CCM program will allow providers to invest in prevention care in order to reduce the more costly, complicated conditions later.
An average of approximately 68.6% of the US senior patient Medicare population is already managing 2 plus chronic conditions, including obesity, diabetes, high blood pressure and cardiovascular disease. Under the new CCM program authorized by CMS, physicians can now bill on average $41.44 per 30 day period for 20 minutes of chronic care activity (non-encounter based follow up care) which annually can add up to an average of almost $500 per year per patient, and based on practice size, substantially add to a practice''s total annual revenues. Additionally there are exciting new guidelines being established for telehealth medicine, including video and phone conferencing among other provisions that would cover remote chronic care management further expanding eligible patients and services.
Millennium Healthcare Inc., through its wholly owned operating subsidiaries, provides primary care physician practices, physician groups and healthcare facilities of all sizes with cutting-edge medical devices focused primarily on preventive care through early detection. The Company also provides advanced billing and coding services, and practice development and management services. For more information, please visit .
This press release contains certain statements that may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release.
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Datum: 17.03.2016 - 07:48 Uhr
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