DALLAS and WOONSOCKET, R.I., July 27 /PRNewswire/ -- American CareSource Holdings, Inc. (Nasdaq: ANCI), the nation's leading ancillary health care system, today announced the expansion of its ancillary services provider network with the signing of MinuteClinic, the pioneer and largest provider of retail-based health care centers in the United States with about 500 locations in select CVS/pharmacy stores in 25 states. Minneapolis-based MinuteClinic is a subsidiary of CVS Caremark Corporation (NYSE: CVS), the leading provider of prescriptions and related health care services in the nation.
"Our primary objective is to provide our clients, and ultimately the consumer, with more cost effective, convenient, local alternatives to hospital- and physician office-based services," said David S. Boone, Chief Executive Officer of American CareSource. "MinuteClinic can provide care for common conditions when a primary physician is not available and the hospital emergency room is not appropriate. This agreement allows us to provide high quality services while controlling costs and expanding our provider network."
"This is an important development in the growth of our business nationwide as we expand access to care to new customers," said Troyen A. Brennan, M.D., Executive Vice President and Chief Medical Officer, CVS Caremark. "By offering high quality treatment in a convenient setting, we are working with Ancillary Care Services to help reduce health care insurance expenses for its members as well as time spent away from members' families and the workplace."
MinuteClinic opened the nation's first retail health care center in Minneapolis in 2000, and today the Convenient Care Association (CCA) identifies approximately 1,200 retail health care centers in the United States. Retail clinic visits average about half the cost of a physician office or urgent care visit and are as much as six times less than an emergency department visit, according to the CCA.
MinuteClinic is the first retail health care provider to receive accreditation from The Joint Commission, the national evaluation and certifying agency for nearly 15,000 health care organizations and programs in the United States. MinuteClinic health care centers are staffed by masters-prepared, board-certified nurse practitioners who specialize in family health care and are trained to diagnose, treat and write prescriptions when clinically indicated for common family illnesses such as strep throat and ear, eye, sinus, bladder and bronchial infections. Common vaccinations such as influenza, tetanus and Hepatitis A are also available. MinuteClinic retail locations are open seven days a week. No appointment is necessary. MinuteClinic nurse practitioners utilize nationally recognized medical protocols to diagnose and treat health conditions. With the patient's consent, treatment information is shared with his or her primary care physician to facilitate continuity of care. In addition, patients can also download their MinuteClinic visit summary to an electronic personal health record.
Minneapolis-based MinuteClinic is a subsidiary of CVS Caremark Corporation (NYSE: CVS), the No. 1 provider of prescriptions and related health care services in the nation. MinuteClinic launched the first retail health care centers in the United States in 2000 and is the first provider to establish a national presence with about 500 locations in 25 states. By creating a health care delivery model that responds to consumer demand, MinuteClinic makes access to high-quality medical treatment easier for more Americans. The Company has generated more than 4 million patient visits, with a 95 percent customer satisfaction rating. A recognized leader in the patient-centric health care movement, MinuteClinic consistently brings innovation to the marketplace and sets new standards for clinical quality that exceed the national guidelines established for store-based clinics by the American Medical Association (AMA) and the American Academy of Family Physicians (AAFP). MinuteClinic is the first retail health care provider to receive accreditation from The Joint Commission, the national evaluation and certifying agency for nearly 15,000 health care organizations and programs in the United States. For more information, visit www.MinuteClinic.com.
About American CareSource Holdings, Inc.
American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of over 3,000 ancillary service providers at more than 26,000 sites through its subsidiary, Ancillary Care Services. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of health care payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.
About Ancillary Care Services
Ancillary Care Services provides ancillary health care services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic, political and regulatory conditions, the effect of competition, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.
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