MDPA news...
(COMTEX) B: METCARE Launches Pharmacy Division; Estimates Annualized
B: METCARE Launches Pharmacy Division; Estimates Annualized Revenues of $25
Million
WEST PALM BEACH, Fla., Mar 1, 2001 (BUSINESS WIRE) -- Metropolitan Health
Networks, Inc. (METCARE) (OTC BB: MDPA), a leading provider of healthcare
services in Florida, announced today that its newly formed MetCare RX division
is now providing prescription ordering and refill services through its Provider
Service Network in the Daytona Beach Market and expects to expand into its
entire network in the second quarter. The addition of this service through its
network of physicians will provide a more efficient and cost effective method of
providing prescription drugs to their patients, as well as significant cost
savings to METCARE.
METCARE estimates the new services, once fully implemented and utilized by
physicians and patients, will generate annualized revenues in excess of $25
million and annualized savings and profits of more than $3.5 million.
The facility is professionally staffed in the Daytona area with licensed
pharmacists and maintains a complete inventory of prescription drugs to fill and
refill prescriptions to be delivered to the patients on demand or on the
following day.
MetCare RX will provide its network physicians with a wireless handheld device
that enables the physician, whether in the office or the hospital, to determine
the appropriate medication and transmit a prescription to the pharmacy. The
pharmacy then fills the prescription and delivers it to the patient's home.
Refills may be ordered in the same way.
The service improves the quality of care by reducing errors caused by unclear
handwriting and incorrect dosages. The Institute of Medicine reported that in
1999 medication errors were responsible for more than 7,000 patient deaths in
the United States and cost $77 billion, and research indicates that computer
order entry systems can reduce errors by 50 percent. Physicians check the
correct dosage by plugging in the patient's height and weight, alerting the
physician to drug allergies and interactions with medications the patient
currently takes and permitting immediate access to drug reference information.
When it is time to refill the prescription, a patient notifies the physician's
office (unless on a maintenance or automatic refill program), who then uses the
wireless system to reorder the medication. Because the pharmacy often fills the
prescriptions with lower-cost or generic medications, a patient may save money
as well as time.
Debbie Finnel, chief operating officer of METCARE, said, "We are excited to be
launching this division at a time when Congress is aggressively supporting
pharmacy benefits for older Americans. With the addition of our pharmacy
division, we are continuing to be a leader in providing healthcare services to
our markets."
METCARE is the fastest growing healthcare organization in Florida. The company
currently manages healthcare services for approximately 45,000 patients and is
part of a network of affiliated physicians serving more than a million people
from Miami to Daytona Beach on Florida's East Coast. METCARE also is in
strategic alliances with insurance companies to create a paperless software
system for healthcare practitioners. The software manages real-time referral,
appointment scheduling, claims review, pharmacy management and utilization
management. METCARE is focused on providing a managed-care solution to
physicians and managed-care organizations in a new healthcare delivery mode
through Internet technology, solutions and e-commerce. For more information,
visit the company's web site at www.metcare.com
Statements in this news release that relate to management's expectations,
intentions or beliefs concerning future plans, expectations, events and
performance are "forward looking" within the meaning of the federal securities
laws. These forward-looking statements include assumptions, beliefs and opinions
relating to the Company's business and growth strategy based upon management's
interpretation and analysis of its own contractual and legal rights and of
health care industry trends. Management's forward-looking statements further
assume that the Company will be able to successfully develop and execute on its
strategic relationships. Many known and unknown risks, uncertainties and other
factors, including general economic conditions and risk factors detailed from
time to time in news releases and the Company's filings with the Securities and
Exchange Commission, may cause these forward-looking statements to be incorrect
in whole or in part. The Company expressly disclaims any intent or obligation to
update any forward-looking statements due to a variety of factors set our above,
including, without limitation, competition in the healthcare market, changing
technology, government regulation of healthcare, general economic conditions,
availability of capital and other factors.
CONTACT: Metropolitan Health Networks, Inc.
Debbie Finnel, COO
561/805-8500
or
Porter, LeVay & Rose, Inc.
L. B. Stauffer, Sr. VP
Elisa Keys, Sr. VP-Media Relations
Linda Decker, Investor Relations
212/564-4700
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KEYWORD: FLORIDA
INDUSTRY KEYWORD: INSURANCE
MEDICAL
PHARMACEUTICAL
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