Check out RPHL, they just released big news!
Rockport Healthcare, Inc , is a fully reporting company with less than 300,000 shares in the float.Two key assets (OTC:BB RPHL) has to offer the investor:
1. Rockport Healthcare forecasts $12,700,000 in revenue in its first full year of operations.
2. It is a fully reporting company and nearly 90% of the Outstanding Shares are restricted.
The Rockport Healthcare Group was established as a holding company todevelop and/or acquire business entities designed to deliver comprehensive, integrated services/products to defined healthcare populations. Rockport Healthcare Group, is a managed care organization primarily focused to address three (3) opportunity rich health carre markets. Workers' Compensation Catastrophic illnesses and injuries Uninsured and under-insured The end result is networks of high quality providers, organized in a manner that will facilitate the delivery of a full-continuum ofintegrated healthcare services. Special attention is given to thegeographic distribution of network providers, as well as ease of accessfor consumers. Care is delivered and monitored on an "episode" basis, rather than viewing portions of the diagnostic, treatment and aftercare plan as individual, non-related events. Additionally, the Rockport Healthcare Group's procedures assure that each of its customers receive the most appropriate care for any illness or injury; care that is delivered in a timely, efficient, cost effective manner.
Key Points
Providing access and savings to those persons with the greatest need: the uninsured, non-insurable and under-insured. Creating tailored networks to meet the specific needs, desires and requirements or purchasers. Maximizing provider choice, and actively overseeing the management of care. Establishing provider performance standards, and delegating the responsibility to providers, through disease and injury clinical line management teams, to ensure standardsare met. Providing nationally a recognized network of regional centers designed for the care of catastrophic illnesses and injuries, where providers assume a shared risk position. Providing customer services support that includes comprehensive profiles of network providers.
This will enable the membership to exercise informed choice in provider selection. Providing the ability to create Health Maintenance Organization "look-a-likes" through re-insurance or joint ventures with Health Maintenance Organizations. Providing national products for purchasers of healthcare. Ensuring that medical processes and outcomes are monitored,documented,compared, and reported on an episode of care basis. Ensuring thatclinical care givers are credentialed from primary sources. Ensuring that members and patients know their rights, and guarantee that network providers inform their patients of these rights.
Rockport Healthcare Group, Inc. has six wholly-owned subsidiaries that service a wide variety of healthcare markets: Rockport Occupational Network, Inc. Rockport Healthcare Savings Corporation,Inc. Realm Healthcare Management, LLC. Rockport Community Network, Inc. Rockport Advanced Care, Inc. Rockport Group of Texas, Inc. Industry The total health care industry generated $1.035 trillion in revenues in1996. Revenues expected to grow an estimated 8.0% to 12.0% annually through the year 2000 and accelerating thereafter to annual projected growth rates of up to 25% through 2025. Workers' compensation accountedfor about $120 billion in costs in 1995. This figure is expected to reach $140 billion by the year 2000, accounting for 41% of the total benefit dollar. Recent estimates of the workers' compensation marketplace the number of injured workers at over 6 million per year. At least $830 billion dollars is currently being spent annually for catastrophicdisease and injury care. Similar estimates of the number of uninsured and underinsured population are in the 110 million range, with thenumber getting larger each year.Highly Fragmented Market - Excellent opportunities for businesses that provide innovative and cost effective means of delivering neededservices. The sheer size of market presents substantial niche opportunities and ample room for competitors. Congressional and State Legislature recognition of need.
Revenue
Two main revenue sources which are already having an immediate affecton revenue: Medical Access Savings Card sales Card Sales generate revenue from sales of the Basic Card" for $120 per year and the "Plus Card" $180 per family per year. Cards are sold both retail to the general public or through group sales, via wholesale, private label and/or joint ventures with corporations, associations,HMO's or insurance companies. Network Contracts Rockport Healthcare enters into contracts with entities which assume risk of providing benefits for employees, members and insureds for accessing Rockport's network of providers for a fee determined either as a percentage of the savings or on a flat fee per month per covered individual. Savings, the difference between what the client would have paid to the provider and the reduced amount payable under Rockport's contractual arrangements with the providers.
Financial Data
Shares Issued & Outstanding 4,766,419
Restricted Shares 4,538,704
Public Float 227,715
Thursday July 1, 10:07 am Eastern Time
Company Press Release
SOURCE: Rockport Healthcare Group, Inc.
Rockport Healthcare Secures Workers' Compensation Contract With Humana (www.rockporthealthcare.com)
HOUSTON, July 1 /PRNewswire/ -- Rockport Healthcare Group, Inc., (OTC Bulletin Board: RPHL - news) an integrated healthcare managed care service company, today announced the signing of a contract to provide customized healthcare provider networks by Humana's (NYSE: HUM - news) third party payor company for Workers' Compensation.
Humana has contracted with Rockport Healthcare Group, Inc. to provide access to its Workers' Compensation provider networks in Alabama, Louisiana and Texas. Rockport projects revenue of approximately $360,000 in the first year of service to Humana. Humana paid providers over $12,000,000 in Workers' Compensation bills in the past year.
Rockport Healthcare Group is providing a customized and tailored network of healthcare providers designed to meet Humana's specific needs. Rockport's compensation is based on obtaining a 20% reduction from the millions of dollars spent each year by their clients on Workers' Compensation claims.
Rockport Healthcare Group was selected based on its overall ability to manage healthcare provider networks, their understanding of the needs of the healthcare industry and their specific knowledge and experience with Workers Compensation program management. Rockport saves its clients significant savings and ensures quality care.
In making the announcement Rockport CEO, Harry M. Neer, said: ''We are pleased to be working with Humana, an industry leader and innovator.'' Neer has more than 30 years experience in healthcare administration, managed care and in developing successful Workers' Compensation networks.
Rockport has developed customized networks to ensure that each of the clients' locations are served by primary care physicians, after-hours and emergency facilities, and physical therapists. This facilitates patient care that is convenient and accessible to all employees.
Neer explained that the services provided to Humana are part of the core services developed and marketed by Rockport which include provider contracting, network development, customer service, claims repricing, development and implementation of grievance policies for claims resolution, information services and data base management.
Rockport Healthcare Group, Inc. develops and operates provider networks and packaged access/discounts to the medical services industry. Primary product lines include the development of provider networks for specialty markets, specifically Workers' Compensation and catastrophic illness and injury, and distribution of medical access savings cards to both individual and group targeted markets.
The Rockport Healthcare Group, Inc. family of companies includes Rockport Community Network, Inc., a managed care organization; Rockport Occupational Network, Inc., an Exclusive Provider Workers' Compensation Network; Rockport Preferred, Inc., Medical Access Savings Card Programs; Newton Healthcare Network, LLC, a Preferred Provider Organization; and Rockport Group of Texas, Inc., a Healthcare Administrative Services Company.
This press release contains forward-looking information. The forward- looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
www.rockporthealthcare.com
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