For everyone's information, here is a press release that was released today. Looks like another good contract:
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--July 1, 1997--Paul A. Brown, M.D., chairman of HEARx Ltd. (AMEX:EAR), announced today HEARx's contract with Foundation Health, A Florida Health Plan Inc. has expanded to include patients throughout the State of Florida.
Dr. Brown noted that this contract is expected to generate approximately $750,000 in additional annual revenues for the center network currently in existence in the State of Florida.
All of the following services will be reimbursed on a per capita basis (a per member/per month fee) as follows: (a) Medicare Patients: These members will receive their basic and diagnostic audiology testing in addition to hearing aids at HEARx. Hearing aid benefits for Medicare members will continue to be $700 when one hearing aid is purchased or $1,100 when two hearing aids are purchased...a benefit which remains competitive in the industry: (b) Commercial Patients: These members will receive their basic and diagnostic audiology testing at HEARx: (c) Medicaid Patients: These members will receive their basic and diagnostic audiology testing in addition to hearing aids at HEARx.
HEARx, with the largest network of audio-vestibular rehabilitative centers in the $2 billion field of hearing services, operates 73 company-owned centers in Connecticut, Florida, New Jersey, New York, Pennsylvania, Oregon and Virginia. The company provides hearing care primarily to patients whose health insurance and managed care organizations have contracted with HEARx.
CONTACT:
HEARx Ltd., West Palm Beach
Paul A. Brown, M.D., 561/478-8770 Ext. 12
or
Silverman Heller Inc., New York
Edward Silverman, 212/682-9222
KEYWORD: FLORIDA
BW1039 JUL 01,1997
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