JERICHO, New York, Feb. 23 /PRNewswire-FirstCall/ -- Rapid Recovery Health Services Inc. (formerly Achievor Recovery Ltd.).(AHVR: OTCPK) announced today that the Florida physician base now includes over 50 trusted contacts utilizing both low energy and high energy Extracorporeal Shock Wave Therapy to treat chronic tendonitis.
“Our operations in Florida continue to grow and are ahead of our expectations” stated CEO Scott Warantz “The Florida market represents one of our largest and fastest growing areas for Rapid Recovery, we expect that our operations will continue to gain momentum with significant revenues being added.”
The new approach to the treatment of specific pain is Extracorporeal Shock Wave Therapy.
Also known as ESWT, this procedure is designed to deliver acoustical sound waves to the area of pain. The special shock waves are generated and applied outside the body to stimulate or initiate the body’s own reparative processes. As a result there is induction of healing without surgery. The body of evidence is growing as to the effectiveness and cost efficiency of ESWT in treating chronic musculoskeletal pain. Shock wave therapy has been used to treat a variety of painful conditions for over 25 years. ESWT is fast and non- invasive.
About Rapid Recovery Health Services
The Company has established a mobile ESWT Program that contracts with over 600 physicians in the NY-NJ-CT Tri-State area and is the exclusive source for low energy ESWT treatment. The mobile program is currently generating in excess of $250,000 in monthly revenue with five systems providing treatment. The Company is interested in establishing mobile routes in the top 100 market areas throughout the United States. Some of the areas include Illinois, Ohio, Wisconsin, Massachusetts, Florida, Maryland, Delaware, Texas, and California, all of which have already established reimbursement schedules for the procedure. The Company already has a fair volume of physician interest in these markets.
Market Size
ESWT is a treatment designed to treat tendonopathies throughout the body that would otherwise require surgical treatment. Based on the demographics of our national population, widespread historical statistics on tendon-related ailments and coverage from insurance carriers, the Company conservatively estimates there is a market demand for over 15 million treatments per year. This figure represents approximately 10% of the existing surgical markets of patients with insurance coverage that pays for ESWT. In other words, based on the current mix of insurance payers, with as little as a 10% market penetration into the existing surgical market for patients suffering from tendonopathies, there is a market for 1.25 million procedures per month. The Company sees this figure increasing by 300%-500% over the next 18-36 months as more insurance carriers begin to initiate coverage for ESWT.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21B of the Securities and Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and only speak as of the date hereof. Forward-looking statements usually contain the words “estimate”, “anticipate”, “believe”, “plan”, “expect”, or similar expressions and are subject to numerous known and unknown risks and uncertainties. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.
For more information about Rapid Recovery, go to http://www.rapidrecoveryinc.com/ or contact the company at 1(888) 889-0010.
The Florida physician base now includes over 50 trusted contacts utilizing both low energy and high energy Extracorporeal Shock Wave Therapy to treat chronic tendonitis.
Rapid Recovery Health Services Inc.
CONTACT: go to http://www.rapidrecoveryinc.com/ or contact thecompany at 1(888) 889-0010