Friday June 19, 5:40 pm Eastern Time
Company Press Release
FPA Medical Management, Inc. Says Press Reports That It has Stopped Paying Physicians Incorrect
SAN DIEGO--(BW HealthWire)--June 19, 1998--FPA MEDICAL MANAGEMENT, INC. (Nasdaq: FPAM - news) today said that, contrary to press reports, it has not stopped paying doctors in parts of California, Nevada and Arizona.
A spokesperson for the Company said, ''While we are behind in our payments to some physicians, we are making payments as our cash flow allows.''
FPA Medical Management, Inc. is a national physician practice management organization that organizes and manages primary care physician networks to contract with HMOs and other prepaid insurance plans to provide physician and related health care services and provides contract management support services to hospital emergency departments.
Certain statements contained in this release constitute forward-looking statements contemplated under the Private Securities Litigation Reform Act of 1995. Although FPA Medical Management, Inc. believes that its expectations are based on reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from their expectations. Factors that could cause actual results to differ from expectations include the difficulty in controlling health care costs and integrating new operations, the ability of the Company to secure financing for operations and acquisitions on reasonable terms, the ability of the Company to realize the anticipated general and administrative expense savings and overhead reductions, the ability of the Company to return the Company's operations to profitability, the level and nature of the restructuring and other one-time charges, the difficulty in estimating costs relating to exiting certain markets and consolidating and closing certain operations and the possible negative effects of prospective health care reform. For other important factors that may cause actual results to differ materially from expectations and underlying assumptions, see reports by FPA Medical Management, Inc. filed with the Securities and Exchange Commission. |