Navigation Links
Phyhealth Submits HMO Applications with Required Federal and State Agencies
Date:3/12/2008

Company Plans Participation in 2009 Medicare Advantage Open Enrollment in

Florida Upon Approval of Applications

MIAMI, March 12 /PRNewswire-FirstCall/ -- Physicians Healthcare Management Group, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenance organizations (HMOs) in partnership with physicians, today announced that it has filed all required applications for the launch of its pilot HMO in the state of Florida. Applications were filed with the Centers for Medicare & Medicaid Services (CMS) on the federal level and the Florida Office of Insurance Regulation (OIR) and the Florida Agency for Healthcare Administration (AHCA) on the state level. All submissions met the CMS imposed March 10th deadline and, upon approval, authorize Phyhealth to begin enrolling Medicare beneficiaries for the 2009 open enrollment period beginning November 15, 2008.

Mr. Robert Trinka, chairman and chief executive officer, stated, "Phyhealth continues to systematically proceed through the steps required for the launch of our pilot HMO, and our team's expertise in healthcare insurance regulations and compliance enabled us to meet the filing deadlines and continue our aggressive schedule in moving the HMO implementation process forward. We have received confirmation from The Centers for Medicare & Medicaid Services that the deadline for submitting our 2009 Medicare Advantage HMO -- Part C and Prescription Drug Benefit -- Part D application was met. The Federal and state regulatory approval process is the next phase, which is expected to take several months to complete. Once approved, we will be able to begin our marketing efforts for 2009 in the fourth quarter of 2008 as permitted by Medicare regulations."

Mr. Trinka continued, "With the initial capital surplus financing in place, our applications filed with the appropriate regulators and an expert team of industry professionals involved, we are well situated to launch our Medicare Advantage HMO in ten counties in the west central Florida market for January 2009 coverage. Florida is a particularly attractive market for our Medicare Advantage HMO because of its high proportion of Medicare beneficiaries. This is an exciting and important step toward realizing our vision of improving the cost and quality of healthcare in America. Our community-based HMOs reward physicians for providing proactive, preventive care to their patients to keep them healthy and detect and treat any disorders early on. This approach reinforces the physician patient relationship, lowers costs and drives quality outcomes. Phyhealth aligns the interests of the physician, the patient and the HMO, making for a more efficient and effective system for all concerned."

About Physicians Healthcare Management Group, Inc.

Physicians Healthcare Management Group, Inc. (Phyhealth) is a developer of community-based health maintenance organizations (HMOs) that are owned and operated in partnership with the participating physicians. Phyhealth Plans are designed to deliver high-quality affordable healthcare by enabling physicians to assume end-to-end management of healthcare for their patients. The Phyhealth model empowers physicians to provide preventive healthcare and proactively manage their patient's general health by aligning incentives amongst the HMO, physician and the patient. Phyhealth intends to offer additional value-added products and services in cooperation with physicians, including medical malpractice insurance, local care facilities and wellness programs, as well as information technologies such as secure electronic medical records.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Physicians Healthcare Management Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. Additional information is available at: http://www.phyhealth.com.


'/>"/>
SOURCE Physicians Healthcare Management Group, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Phyhealth Concludes $1.5 Million Financing for Launch of Its Pilot Community-Based HMO
2. Takeda submits new drug application for alogliptin (syr-322) in the US
3. XTENT Submits CE Mark Registration to Market Custom NX(R) Drug-Eluting Stent System in Europe
4. ImaRx Therapeutics Submits Urokinase Data to FDA Supporting Extended Expiration Dating
5. Millennium Submits sNDA for VELCADE(R) (Bortezomib) for Injection for the Treatment of Front-Line Multiple Myeloma
6. ISTA Pharmaceuticals Submits New Drug Application for Xibrom(TM) QD (once-daily)
7. SGX Pharmaceuticals Submits Investigational New Drug Application for SGX523, a Highly Potent, Selective, Orally Bioavailable cMET Inhibitor
8. Johnson & Johnson Pharmaceutical Research & Development Submits New Drug Application for Paliperidone Palmitate
9. Global Med Technologies(R), Inc. Submits ElDorado Donor(TM) to FDA
10. Cephalon Submits New Drug Application for TREANDA for the Treatment of Chronic Lymphocytic Leukemia
11. WaferGen Launches SmartSlide 200 Micro-Incubation System for Stem Cell Research and Cell Biology Applications
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/16/2017)... ... January 16, 2017 , ... ... Chief Executive Officer of the medical device company, effective immediately. , “This is ... “Kevin has a strong track record in medical device market development and ...
(Date:1/15/2017)... ... , ... Whole Health Supply, LLC is announcing the release of an updated version of their ... , The 2017 edition has wide jaws that will accommodate nails up to 4mm ... as diabetics. This handle is reinforced for extra strength when pressing down on dense nails ...
(Date:1/15/2017)... ... , ... Wondering where to go this Valentine's Day? Well, there is a ... romantic, lobster feast in the comfort of your own home. Lobster Gram is introducing ... be featured until February 15th, 2017. , Romantic Dinner one is Lobster Gram's ...
(Date:1/14/2017)... ... January 13, 2017 , ... ... Soul, incorporating a magnesium-rich Mediterranean diet may lower the risk of type 2 ... notes that the many health and wellness benefits linked to a Mediterranean diet ...
(Date:1/13/2017)... ... ... The 18th European Congress: Perspectives in Lung Cancer will be held in Madrid ... expertly designed to meet the educational needs of European oncology clinicians and researchers who ... Giorgio V. Scagliotti, Professor of Oncology at the University of Torino, and organized by ...
Breaking Medicine News(10 mins):
(Date:1/16/2017)... LOVELAND, Colo. , Jan. 16, 2017  Northern ... , is bringing advanced laser treatments to ... specialty clinic focuses solely on the removal of unwanted ... and fading for tattoo cover-ups. "Tattoos are ... out the way we hope they would," said ...
(Date:1/16/2017)... January 16, 2017 ... Product Type (Methyl, Ethyl, Hydroxyethyl, Hydroxypropyl, Carboxymethyl ... Beverages, Surface Coatings & Paints), Region - ... the market was valued at USD 4.51 ... reach USD 6.41 Billion by 2021, at ...
(Date:1/16/2017)... -- Transparency Market Research states that the leading ... a huge share of 43% in 2015. Apple Inc., F.Hoffmann-La ... overall market, grabbing the undivided attention of buyers with their ... strong product portfolio is expected to keep these companies in ... ...
Breaking Medicine Technology: