Navigation Links
BPO Management Services Announces Financial Results for Fourth Quarter and Full Year 2008
Date:4/1/2009

Revenue Increases 71% for the Year as Demand Remains Strong Across All Business Segments

Company Expects 35% Sequential Increase in Revenue for Q1 09 as Healthaxis Integration Proceeds According to Plan

ANAHEIM, Calif., April 1 /PRNewswire-FirstCall/ -- BPO Management Services Inc., (OTC Bulletin Board: HAXS), a full-service healthcare and business process outsourcing company focused on serving the middle-market, today announced its financial results for the fourth quarter and full year 2008 ended December 31, 2008. The income statement does not reflect the merger of BPO Management Services and Healthaxis, Inc., which was completed on December 30, 2008.

Operational Highlights

  • BPOMS continues to experience solid growth in its ITO business segment as the Company continues to sign long-term, recurring revenue contracts. Concurrent with this effort, expenses for this segment were higher, as a percentage of revenue, than normal as the Company ramps up to support new contract revenue. Typically, there is a 3 to 6 month lag after contract signing before new revenue commences, while customer systems are being migrated. During this short period of time, the Company will experience higher expense levels without matching revenue.

  • BPOMS signed a multi-year agreement to provide ITO services to Forrest T. Jones & Company, Inc. (FTJ), an insurance agency and administrator. Under the terms of this agreement BPOMS will host and manage FTJ's IT infrastructure environment, including monitoring, support and maintenance of all related network components and devices from BPOMS full-service 24/7/365 support center located in Pearl River, NY. BPOMS will also provide dedicated Disaster Recovery services from its high-availability recovery center in Branchburg, NJ.

<
'/>"/>

SOURCE BPO Management Services, Inc.
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12

Related medicine news :

1. Director of Healthcare Solutions Appointed to Guide Workforce Management Initiatives for Hospitals and Long Term Care Facilities
2. Mercy Regional Medical Center Selects Management Health Solutions, Inc. for Inventory Services
3. Covance Experts to Present Key Insights on Risk Management at Bio/Pharmaceutical Drug Safety Forum
4. Axsium Group Launches Workforce Management Practice for Healthcare Industry
5. Best Practice Database Adds Research Highlighting the Value of Portfolio Management in Early-Stage Commercialization and Customer-Focused Software Quality Assurance
6. iMedica Partners With Colorado Medical Society To Offer Electronic Health Record, Practice Management Solutions
7. Nations Largest Home Care Provider Welcomes New Management Team to San Francisco Office
8. SingaporeMedicine Highlights Singapore's Advanced Pain Management Techniques
9. KMSI Announces KMx Update That Provides eLearning, Knowledge Management and Collaboration Tools for Apple iPhone and Other Mobile Devices
10. QHR Management Client Hancock Medical Center Named Mississippi Hospital of the Year
11. InSight Health Services Holdings Corp. and Perot Systems Corporation Announce Seven-Year Revenue Cycle Management Agreement
Post Your Comments:
*Name:
*Comment:
*Email:
Breaking Medicine Technology:Maxygen, Inc. Announces Extension of Dutch Auction Tender Offer 2ThromboGenics Announces Start of Phase II Trial of Microplasmin for the Treatment of Age-Related Macular Degeneration (AMD) 2ThromboGenics Announces Start of Phase II Trial of Microplasmin for the Treatment of Age-Related Macular Degeneration (AMD) 3ThromboGenics Announces Start of Phase II Trial of Microplasmin for the Treatment of Age-Related Macular Degeneration (AMD) 4Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 2Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 3Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 4Genomic Health Announces Publication of Study of Oncotype DX(R) in Node-Positive Breast Cancer That Identifies Patients Who Do Not Appear to Benefit From Chemotherapy 5Pausing Hormone Therapy Doesnt Cut Mammogram Recalls 47850 1Pausing Hormone Therapy Doesnt Cut Mammogram Recalls 47850 2U S Civil Rights Commission to Hold Public Briefing on Health Care Disparities Between Minorities and Non Minorities and Business Meeting 47848 1U S Civil Rights Commission to Hold Public Briefing on Health Care Disparities Between Minorities and Non Minorities and Business Meeting 47848 2U S Civil Rights Commission to Hold Public Briefing on Health Care Disparities Between Minorities and Non Minorities and Business Meeting 47848 3Anthem Blue Cross in California Provides More Members With Access to Comprehensive Transparency Tool 47846 1Anthem Blue Cross in California Provides More Members With Access to Comprehensive Transparency Tool 47846 2Anthem Blue Cross in California Provides More Members With Access to Comprehensive Transparency Tool 47846 3