FLOWER MOUND, Texas, Oct. 26 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. announced today patient billings for the fiscal year ended September 30, 2005 totaled $11,150,000, a 22 percent increase compared to $9,130,000 for the fiscal year ended September 30, 2004.
The Company said $757,000 of the revenue increase was attributable to its Affiliated-Revenue program and the remaining $1,263,000 to Company-owned clinics. Patient billings for the fourth quarter ended September 30, 2005 were $2,830,000 compared to $2,613,000 for last quarter in 2004. The 2004 billings are adjusted for the September 2004 sale of the Company’s clinic in New Orleans, LA.
“The rate of increase in the September 2005 quarter compared to the same quarter in the previous year was slightly lower than expected due to non-recurring factors, including the weather,” said Dr. J. W. Stucki, American HealthChoice Chairman and CEO.
“We are pleased with initial results from our Tennessee clinics,” said Dr. Stucki. “The combination of our established relationships with attorneys and our strong marketing program allows us to grow in new markets such as Houston and Dallas-Fort Worth. We continue to add new clinics at a minimum rate of two clinics per month and expect this rate to accelerate in 2006,” added Dr. Stucki.
Dr. Stucki also said the Company’s Telemedicine Program, providing healthcare and second opinions to patients with digital technology, should have 15 clinic systems installed by December 31, 2005. “Since the majority of these clinics are outside the American HealthChoice clinic network, the medical services will bring new revenue to the Company,” the Company’s CEO said.
About American HealthChoice:
American HealthChoice is a medical services company comprised of a parent company and 40 owned and affiliated medical clinics in Texas and Tennessee.
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, for AmericanHealthChoice, Inc.
