President of Integrated Pain Solutions Provides Update on Key Operational Developments at New PainCare Subsidiary
Published: May 29, 2007
ORLANDO, Fla., May 29 /PRNewswire-FirstCall/ -- Maria R. McAfee, president of Integrated Pain Solutions, LLC (IPS), a wholly-owned subsidiary of PainCare Holdings, Inc. , today issued the following formal operational update, detailing key developments and mission-critical milestones that the Company is working to achieve over the next several months. According to McAfee:
"Over the past several months, IPS has been focused on executing a series of exciting initiatives specifically designed to maximize prevailing and emerging opportunities within the field of pain medicine. We believe that our pioneering approach to developing a multi-disciplinary network of highly privileged providers and specialists that engage our evidenced-based clinical pathways for the treatment of acute and chronic musculoskeletal pain will ultimately drive significant cost-savings for payors and marked improvements in clinical outcomes. To that end, we have endeavored to achieve a number of important milestones in our ongoing development and commercialization efforts to ensure we build a firm foundation on which to construct and operate an enduring and profoundly successful company."
"To direct this process, we have assembled a remarkable team of healthcare, business, marketing and technology experts to help guide and direct the rapid implementation of IPS' business building strategies. We are also in the process of establishing a Medical Advisory Board comprised of internationally renowned medical experts traversing a broad range of medical specialties and disciplines, including general medicine, physiatry, physical therapy, interventional pain management, orthopedic surgery, neurosurgery and psychology. This Advisory Board will play a vital role in reviewing and refining IPS' proprietary clinical pathways based on critical outcome data that we will be collecting and analyzing -- a paramount aspect of our managed services platform."
"Critical to the success of our entire value proposition for future customers is the development of a fully-integrated support and service platform capable of providing comprehensive telephonic and electronic utilization management, case management and care coaching services."
"As announced in March, IPS teamed with MINES & Associates, a noted industry leader in the delivery of services to corporate employers, including Employee Assistance Programs (EAP), managed care, managed mental healthcare, organizational development and psychology services, wellness programs, behavioral risk management, disease management, PPO services, and a number of other technology-oriented services. Over the past several months, we have collaborated closely with the MINES team to develop IPS' own proprietary, private-labeled system of operation that is capable of rapid scaling as new customers are brought on board. This process has gone well, thus triggering our sales and marketing activities to those payors that we have identified as strong new customer candidates."
"To further support this process, and in keeping with our universal branding strategy, IPS has launched Phase I of its web development initiative. Specifically, our new corporate web site, found at www.integratedpainsolutions.net, is now operational, but will continue to undergo a series of planned enhancements over time, to include the addition of web-based interactive tools providing secure access for physicians, payors and patients to report or review medical treatment data, clinical outcome analyses and other information relevant to the individual users."
"In the coming three quarters, IPS is intent on achieving a number of milestones essential to our business development strategy. They include
-- Partnering with an established provider of physical therapy services with a national presence; -- Teaming with an academic institution capable of providing comprehensive clinical outcome and statistical analysis; -- Building multi-disciplined provider networks in key geographic regions, with emphasis on clinicians focused in physiatry, anesthesiology, orthopedic surgery and neurosurgery; -- Formalizing appointments to our Medical Advisory Board; -- Contracting with our first key customers and launching first beta tests; -- Implementing follow-on phased web-development projects; and -- Driving awareness of IPS' brand and services platform through trade show participation, outbound marketing initiatives, webinars, and strategic sales and marketing presentations."
"Although these represent ambitious goals for us, we firmly believe that we have the foundation for growth in place, the management team to execute, and the ideal market conditions to succeed. Our sales model is one that provides for a very lucrative and profitable revenue stream stemming from a diverse and flexible platform of services programs that we will be offering to major medical insurers, workers compensation carriers, and large self-insured trade unions and employer groups. Considering that these payors are charged with providing insurance coverage for literally millions of people and are increasingly pressured by escalating costs related to these people's care, IPS' creative and proactive managed services represent a refreshing and timely solution for addressing these costs. Consequently, we are looking forward to achieving rapid national market penetration once we have completed initial beta testing with our first customers."
"In closing, IPS remains pledged to capitalizing on our first-to-market advantage to ensure we establish our Company as the undisputed leader in the delivery of pain-focused managed services. By doing so, we look forward to fast becoming an active contributor and value-enhancer to PainCare Holdings' long-term financial success and profitability," concluded McAfee.
About Integrated Pain Solutions (IPS)
Integrated Pain Solutions (IPS) is the first and only managed services organization offering a multidisciplinary healthcare network focused on pain management to payor organizations, such as insurance and workers' compensation carriers and unions. IPS reduces costs and increases quality of life by providing highly credentialed physicians and centers of excellence on pay-for- performance incentives, a continuum of care that begins with care coaching, a shared financial and clinical data warehouse, and evidence-based clinical outcome measurements to determine the most effective pain-management plan.
About PainCare Holdings, Inc.
Headquartered in Orlando, Florida, PainCare Holdings, Inc. is one of the nation's leading providers of pain-focused medical and surgical solutions and services. Through its proprietary network of acquired or managed physician practices and ambulatory surgery centers, and in partnership with independent physician practices and medical institutions throughout the United States and Canada, PainCare is committed to utilizing the most advanced science and technologies to diagnose and treat pain stemming from neurological and musculoskeletal conditions and disorders.
Through its wholly owned subsidiary, Caperian, Inc., PainCare offers medical real estate and development services. Through Integrated Pain Solutions, the Company is engaged in pioneering the nation's first Managed Services Organization that offers a multi-disciplinary healthcare network focused on the treatment of pain. For more information on PainCare Holdings, please visit www.paincareholdings.com.
This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. These forward-looking statements, which may include statements regarding our future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses, future operating margins and other future or expected performance, are subject to the following risks: the acquisition of businesses or the launch of new lines of business, which could increase operating expenses and dilute operating margins; the inability to attract new patients by our owned practices, the managed practices and the limited management practice; increased competition, which could lead to negative pressure on our pricing and the need for increased marketing; the inability to maintain, establish or renew relationships with physician practices, whether due to competition or other factors; the inability to comply with regulatory requirements governing our owned practices, the managed practices and the limited management practices; that projected operating efficiencies will not be achieved due to implementation difficulties or contractual spending commitments that cannot be reduced; and to the general risks associated with our businesses.
In addition to the risks and uncertainties discussed above you can find additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements in the reports that we have filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent our judgment as of the date of this release and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise after the date of this press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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