Press Release, April 22nd...
PanAmerican HealthcorpSigns New Agreement With New York Medical Group
April 22, 1999 01:19 PM
HAUPPAUGE, NY--(BUSINESS WIRE)--April 22, 1999--PanAmerican Healthcorp has announced that it has entered into an agreement with one of New
York's largest medical groups to provide transaction-reporting services for their HMO patients. The medical group, which is comprised of 22 facilities and almost 400 physicians, processed over two million HMO transactions last year. This agreement will generate substantial new annual revenues for PanAmerican Healthcorp.
PanAmerican Healthcorp will utilize its Internet-based healthcare information management system to perform these services and recuce transaction reporting costs for the group by as much as 50%. Advanced data warehousing and database management techniques provide PanAmerican Healthcorp with cutting edge tools for reporting productivity and profitability.
This new agreement represents a significant expansion of services provided to this flagship medical organization. PanAmerican Healthcorp is currently providing third party billing services and has developed and implemented a series of training seminars for the physicians at the 22 facilities. Seminars focus on recent coding regulations, techniques and compliance guidelines.
PanAmerican Healthcorp is a wholly owned subsidiary of PanAmerican BanCorp. Additional BanCorp endeavors include: Insider Trading, a security trading system for sophisticated investors, Affordable Housing Group; the development of a "dot. com" division known as PanAmerican Internet Group; a joint venture with FirstStates Financial Services Corp. to form a federally chartered thrift institution; and a recently announced agreement with Healthwyz, Inc. to market the DigiBill(tm) product in North and South America.
Except for historical information, the matters discussed in this news release may be considered "Forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that nay such forward-looking statements are not guarantees of future performances and involve a number of risks and uncertainties that could materially affect results. |
