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Press Release - American CareSource Holdings, Inc. (XSI-AMEX)

“If you look at a graph of what ancillary care spend looks like between 1980 and today, ancillary care spend in 1980 was roughly 25% of the overall healthcare spend at that point in time in the nation, today it represents north of 30% which makes it a nearly $600 billion market for services. It is taking a larger share of the pie and is expected to do so over time. For us we feel like we are uniquely positioned in the space. We are not aware of another business similar to ours...” - Steven J. Armond (XSI) (Interview published April 18, 2008)

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Jan. 13, 2010 13:30 UTC

American CareSource Holdings and ChiroSource Inc. Sign National Agreement

DALLAS & CONCORD, Calif.--(BUSINESS WIRE)-- American CareSource Holdings, Inc. (Nasdaq: ANCI), the nation’s leading ancillary health care system, announced today the expansion of its chiropractic services with the signing of California-based ChiroSource, Inc. ChiroSource represents 1,600 chiropractic care providers in all 50 states and the District of Columbia.

Back and neck pain are the most common causes of pain among all medical conditions. Chiropractic care has been proven to be a safe and effective treatment option,” said ACS CEO and President David S. Boone. “ChiroSource’s business model is very similar to ACS in that they contract with the most highly qualified chiropractors in the country to ensure the best service and value for our clients. This new partnership is an important addition to our ancillary provider network as we address the growing demand for chiropractic care. We look forward to working with ChiroSource to provide quality care to our clients for many years in the future.”

“ChiroSource and CHPC have been involved in the effective management of chiropractic claims for over 26 years,” said Vice President Robert Cataldo, Jr. “Our long history in physical medicine has allowed us to develop systems that are responsive to the special needs of health plans. Our mission is to provide prompt, thorough and professionally superior service to our clients and their members.”

“The ideal ChiroSource provider is one who provides quality chiropractic care based on reasonable clinical criteria and who meets ChiroSource’s rigorous credentialing standards which are very much in line with the standards of credentialing and provider quality held by ACS,” said Vice President of Provider Development Cornelia Outten. “Our collective goal is to provide our clients with access to the best providers available.”

About American CareSource Holdings, Inc.

American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of over 4,100 ancillary service providers at more than 32,000 sites through its subsidiary, Ancillary Care Services. Ancillary Care Services provides ancillary health care services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion and has grown to 30% of total national health expenditures. These providers offer services in 31 categories including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics and others. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of health care payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.

About ChiroSource, Inc.

Chiropractic Health Plan of California (CHPC), a full service chiropractic benefit management company, was founded in 1986. ChiroSource, Inc. (CSI) was established in 1997 to extend CHPC’s services beyond the original California service area. Through ChiroSource, self-insured groups, PPOs and health plans can access the same high quality services offered by CHPC throughout the United States.

Chiropractic benefits through CHPC or CSI help increase the health and productivity of your members, which directly benefits those employers or insurance groups who choose us to manage their chiropractic benefit. Employee benefit plans with a robust, but well managed chiropractic benefit significantly reduce claims expenses in other areas like surgery, prescription drugs and physical therapy. To learn more about CHPS or CSI, please visit their website at www.chpc.com or contact Ron Cataldo, Jr. at (800) 680-9997.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic, political and regulatory conditions, the effect of competition, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.

Contacts

American CareSource Holdings, Inc.
Angela Cloud, 972-308-6934
Marketing Manager
acloud@anci-care.com
or
The Cockrell Group
Investor Contact
Rich Cockrell, 404-942-3369
rich.cockrell@thecockrellgroup.com
cockrellgroup.com


 


 


 


 


 


 


 





    

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