Navigation Links
Comprehensive Care Corporation Implements Steps to Increase Margins and Sustain Profitability
Date:5/30/2012

TAMPA, Florida, May 30, 2012 /PRNewswire/ -- Comprehensive Care Corporation ("CompCare") (OTC BB: CHCR), a leading behavioral health, substance abuse and psychotropic pharmacy management services provider for managed care companies throughout the U.S., today announced that it has undertaken significant steps that it believes will further reduce its overhead as part of a continuing program to increase margins and obtain sustainable profitability.

"Starting the process in the first quarter of this year, the Company thus far has reduced its monthly general and administrative expenses by approximately 12 percent. We expect to be able to implement further cost-saving measures over the coming months," said Robert Kulbick, President.

"As our pharmacy management program gains traction, we anticipate additional organic growth with higher profit margins.  We believe our program is the only one in the industry that provides a guarantee for our clients' future pharmacy spend at a rate less than their previous years' expenditures," said Mr. Kulbick.

"While our emphasis for the rest of this year will be on sales of our pharmacy management program, our pipeline for our behavioral health business also remains strong.  We intend to be disciplined with each dollar spent in pursuing a viable business strategy, with each expenditure carefully weighed, which we expect to lead to positive results," Mr. Kulbick concluded.

About CompCare:

Established in 1969, CompCare provides behavioral health, substance abuse and psychotropic pharmacy management services for managed care companies throughout the United States. Headquartered in Tampa, Florida, CompCare focuses on personalized attention, flexibility, a commitment to high-quality services and innovative approaches to behavioral health that address both the specific needs of clients and changing healthcare industry demands. The Company's recently filed 10-Q is available at www.sec.gov. For more information, please call 813-288-4808 or visit our website at www.compcare.com

Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release, including but not limited to our ability to increase margins and to obtain sustainable profitability, our ability to reduce overhead and implement further cost savings, our ability to further improve the Company's performance, the outcome of our business strategy and our ability to expand our pharmacy management program with higher profit margins are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, changes in local, regional, and national economic and political conditions, the effect of governmental regulation, competitive market conditions, varying trends in member utilization, our ability to manage healthcare operating expenses, our ability to achieve expected results from new and existing business, our ability to expand and manage our provider network,  the profitability, if any, of our recently acquired or previously existing capitated contracts, the costs incurred in seeking new contracts, the loss or termination of any existing contract, increases or variations in cost of care, seasonality, the Company's ability to obtain additional financing, and additional risk factors as discussed in the reports filed by the Company with the Securities and Exchange Commission, which is available on its website at www.sec.gov.

Investor Contacts:
Paul Knopick
E & E Communications
pknopick@eandecommunications.com
949.707.5365


'/>"/>
SOURCE Comprehensive Care Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Siemens Showcases Its Most Comprehensive and Advanced Breast Care Portfolio
2. Clinsys(R) TPS Teams Provide Comprehensive Clinical Development Plans
3. Comprehensive Safety Tests Published on Ruyan(R) Smoking Alternatives
4. Algeta Completes Comprehensive Phase II Clinical Program With Alpharadin for Treating Bone Metastases in Patients With Advanced Prostate Cancer
5. Chemstar Corporation Offers Comprehensive Deep Cleaning Programs to Combat Salmonella, Listeria, and E. coli in Retail Supermarkets
6. Mayo Clinic Proceedings: A Comprehensive Review of Addiction to Prescription Painkillers Among Patients and Physicians
7. ARKRAY, Inc. Long Term Care Division Launches Comprehensive Service Program - Assure(R) Brilliance
8. Doctors Cite Time, Low Reimbursement As Barriers To Providing Comprehensive Diabetes Care, Survey Results Show
9. Greenway Medical Technologies PrimeSuite 2011 Receives CCHIT 2011 Comprehensive Certification
10. Philips Introduces Multi-Modality Breast Workspace to Complement Comprehensive Portfolio of Diagnostic Imaging Solutions for Breast Care
11. Carl Zeiss Chooses AT&T as Global Provider For Comprehensive Communications Services
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/20/2016)... 2016 ReportsnReports.com adds Global ... Devices of its online business intelligence library. This ... current state of the Titrator industry. The report ... definitions, classifications, Specifications, applications and industry chain structure. ... Raw Material Suppliers, Equipment Suppliers, Manufacturing Cost Structure, ...
(Date:5/20/2016)... India , May 20, 2016 ... - Pipeline Review, H1 2016" market research report ... Plaque Psoriasis (Psoriasis Vulgaris), complete with comparative analysis ... mechanism of action (MoA), route of administration (RoA) ... featured news and press releases. It also reviews ...
(Date:5/19/2016)... According to a new market research report "Sunitinib Malate ... Germany , France , U.K., ... Japan )", published by MarketsandMarkets, The market is projected to ... from 2016 to 2021.      (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ... through 26 Pages and in-depth TOC on "Sunitinib Malate ...
Breaking Medicine Technology:
(Date:5/23/2016)... ... May 23, 2016 , ... ComplianceOnline, the leading governance, risk and compliance ... summit on September 15 and 16, 2016 in San Diego, CA. The two ... bearers will be one of the largest gatherings of medical device companies, suppliers, professionals ...
(Date:5/23/2016)... ... May 23, 2016 , ... ... today that nominations will be accepted May 23, 2016 through August 5, ... include the Information Security Executive® of the Year, which recognizes executives who ...
(Date:5/23/2016)... ... May 23, 2016 , ... Hadley ... worldwide for people who are blind or visually impaired, announces the election of ... President Charles E. Young. Hadley’s Board of Trustees retained Morris & Berger, a ...
(Date:5/23/2016)... ... 23, 2016 , ... Octo Consulting Group, a leading provider of innovative information ... announce they have recently won two awards from AFCEA International. Octo was selected ... Year. Additionally, Octo VP of Civilian Affairs, Naina Leo, was named a winner of ...
(Date:5/23/2016)... , ... May 23, 2016 , ... VitreosHealth is presenting ... 10, 2016 from 11:00 AM – 12:00 PM ET. To register, click ... start a proactive outreach program built on Big Data with a new predictive and ...
Breaking Medicine News(10 mins):