Client addition provides opportunity to lower healthcare costs for Arizona Foundation for Medical Care’s 160,000 covered lives
PHOENIX & DALLAS--(BUSINESS WIRE)-- American CareSource Holdings, Inc. (NASDAQ: ANCI), the nation’s leading ancillary health care system, announced today that it has signed and implemented an agreement with Phoenix-based Arizona Foundation for Medical Care (“AFMC”), a preferred provider organization (PPO) representing 160,000 covered lives.
David S. Boone, Chief Executive Officer of American CareSource Holdings, Inc. (“ACS”), stated, "We are honored to be incorporated within the prestigious AFMC healthcare network. ACS is committed to working with AFMC’s 80 Carriers and Third Party Administrators so that their members have access to the most cost effective ancillary providers while ensuring appropriate, quality care.”
Anthony D. Mitten, JD, Chief Executive Officer of AFMC, stated, "Our new relationship with ACS furthers our ability to offer the most cost-effective network options to fit the needs of Arizona individuals, families and businesses. AFMC is the largest statewide independent healthcare network with 13,000 professional providers, 30,000 locations, and 73 hospitals throughout Arizona. Through our agreement with ACS we can deliver our clients even more choices, more care and more savings."
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 33,000 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 over 20% 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, preferred provider organizations, health maintenance organizations, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.
About Arizona Foundation for Medical Care
Arizona Foundation for Medical Care (AFMC) was founded in 1969 as a not-for-profit organization by a group of 800 physicians from the Maricopa County Medical Society. These physicians believed that there was a better way to create and manage a healthcare network in Arizona.
Today, AFMC has grown into Arizona’s largest statewide independent healthcare network by providing highly-accessible, quality care, while focusing on containing healthcare costs for employer groups through comprehensive medical management and wellness programs. For more information about AFMC, visit their website at www.azfmc.com.
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 Rdevelopment, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.
American CareSource Holdings, Inc.
Angela Cloud, 972-308-6934
The Cockrell Group
Rich Cockrell, 404-942-3369
KEYWORDS: United States North America Arizona Texas
INDUSTRY KEYWORDS: Health Hospitals General Health