FLOWER MOUND, Texas, April 13 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. (BULLETIN BOARD: AMHI) announced today patient billings for the second quarter ending March 31, 2005 totaled $2,893,000, a 35 percent increase compared to $2,143,000 for the quarter ended March 31, 2004. The Company said $173,000 of the revenue increase was attributable to its Affiliated-Revenue program, and the remaining $577,000 to Company-owned clinics that have been open for more than one year. The 2004 billings are adjusted for the September 2004 sale of the Company’s clinic in New Orleans, LA.
“We are seeing a 3 1/2 to 4 percent increase in patient billings from month to month in our established clinics,” said Dr. J. W. Stucki, American HealthChoice Chairman and CEO. “Our patient billings are increasing at a greater than anticipated rate.”
Dr. Stucki said that as of March 31, 2005, the Company’s Rehabco unit placed the initial two spinal decompression systems in clinics outside of the American HealthChoice network. “We are on target to place six systems by June 30, 2005, and then expect exponential growth from that point forward,” Dr. Stucki said. The spinal decompression system has an extraordinary success rate treating lower back pain using a non-surgical technique. Information on the spinal decompression system and its use at an American HealthChoice clinic in Katy, Texas is available at http://www.katyspinerehab.com/. Information about Rehabco is available at http://www.rehabco.com/.
Dr. Stucki also said the Company’s Telemedicine Program, involving providing healthcare to patients with video conferencing and digital technology, which was launched in November 2004, has identified 10 additional clinics to utilize this program within the first six months of 2005. “Since the majority of these clinics are outside the American HealthChoice clinic network, the medical services will bring new revenue to the Company,” Dr. Stucki said.
About American HealthChoice:
American HealthChoice is a medical services company comprised of a parent company and 30 owned and affiliated medical clinics in Texas.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company’s report on Form 10-KSB for fiscal year 2004 filed with the Securities and Exchange Commission on January 13, 2005.
CONTACT: Dr. J.W. Stucki, CEO American HealthChoice, Inc. 972/538-0122 x203 Paul Knopick E & E Communications 949/707-5365 pknopick@eandecommunications.com
American HealthChoice, Inc.
CONTACT: Dr. J.W. Stucki, CEO of American HealthChoice, Inc.,+1-972-538-0122, ext. 203; or Paul Knopick of E & E Communications,+1-949-707-5365, pknopick@eandecommunications.com
Web site: http://www.rehabco.com/
Web site: http://www.katyspinerehab.com/