Monday August 11 8:35 AM EDT
Company Press Release
Prime Medical Services, Inc. Announces Entry into Practice
Management Services
AUSTIN, Texas--(BW HealthWire)--Aug. 11, 1997--Prime Medical Services, Inc. (``Prime'')
(Nasdaq/NM:PMSI) has announced the creation of a new division to provide practice management
services to urologists.
Dr. Joseph Jenkins, president of Prime Medical, stated, ``We have created this division in response
to marketplace conditions which favor the creation of larger, more efficient and cost-effective
practices than the traditional physician organization provides. Many of our physician partners and
other urologists have expressed interest in our providing such services to them. Our goal will be to
relieve doctors of certain business responsibilities, improve their margins, and allow them to
concentrate on providing the highest quality clinical care for their patients.''
Dr. Jenkins added, ``For the past year, Prime Medical has been studying the benefits urologists
might access through Prime's involvement in the management of urology practices and networks.
Prime, through its lithotripsy and Prostatron(R) business, has extensive relationships with over
2,500 of the practicing urologists in the United States. This level of involvement allows Prime a
unique access to the national urology community.''
Heading the medical management division as senior vice president is William J. Walsh. Walsh has
been a senior executive in a large multi-state hospital corporation and at one of the nation's largest
multi-specialty group practices. Prior to joining Prime Medical, he headed a practice management
consulting firm that organized and managed some of the first single specialty physician networks in
the country.
Bill Walsh commented, ``Our role is to assure the growth and development of our urologists
partners by providing sound business practices, joint venture opportunities and marketplace
leverage. We can do this by organizing practices into networks or group practices to deal with
managed healthcare and the expenses associated with maintaining a practice.''
Walsh added, ``Effective June 1, 1997, Prime was hired to manage New Jersey Uronet, Inc., a
network of 46 prominent urologists in the 10 southern counties of New Jersey. We are excited by
the opportunity to work with this outstanding group.''
Lithotripsy is a cost-effective, non-invasive method for treating kidney stones through the use of
extracorporeal shock waves which pulverize kidney stones and permit them to pass painlessly from
the body. Prime Medical is the largest operator of lithotripters in the United States, currently
performing over 36,000 procedures annually, through contracts with approximately 400 hospitals
and 255 managed care companies. Prime Medical operates a fleet of 58 lithotripters in 33 states.
Prime is also developing mobile routes to provide thermotherapy services to hospitals and surgery
centers to treat benign prostatic hyperplasia (BPH).
For more information, visit Prime's website at www.primemedical.com . |
