TAMPA, Fla., Nov. 22, 2011 /PRNewswire/ -- Comprehensive Care Corporation ("CompCare" or the "Company") (OTCBB: CHCR) announced today it has signed a new multi-service agreement with Essence Healthcare™ to provide managed behavioral health and pharmacy management services to the Medicare Advantage population serviced by Essence Healthcare in Missouri, Washington and Illinois.
Under the recent agreement, CompCare will provide Essence Healthcare enrollees with integrated behavioral health and a specialized pharmacy management program for psychotropic medications. CompCare's services will commence on January 1, 2012.
Clark A. Marcus, CompCare's Chairman and CEO, commented, "Our new agreement with Essence Healthcare reflects the increasing demand we have seen for our innovative behavioral health and pharmacy programs. For example, our pharmacy management program for psychotropic medications is specialized to have a direct integration with our behavioral health services program. These programs are designed to improve behavioral medication prescribing practices, enhance medication adherence, improve outcomes via integration and coordination of care and generally reduce overall costs. We expect this agreement to further our current growth momentum and provide us with an excellent opportunity to showcase a variety of specialty services."
Michael Fusco, MD, Medical Director of Essence Healthcare stated, "In addition to delivering quality and cost-effective behavioral health services, CompCare has developed a variety of ancillary offerings that we believe will offer tremendous benefit to our members. Essence is proud to be our members' partner in good health, and we anticipate this new relationship with CompCare will help us be an even better partner."
About CompCare:
Established in 1969, CompCare provides behavioral health, substance abuse and psychotropic pharmacy management services for managed care companies throughout the United States. Headquartered in Tampa, Florida, CompCare focuses on personalized attention, flexibility, a commitment to high-quality services and innovative approaches to behavioral health that address both the specific needs of clients and changing healthcare industry demands. For more information, please call 813-288-4808 or visit our website at www.compcare.com.
About Essence Healthcare
Essence Healthcare offers people with Medicare comprehensive and affordable health insurance that focuses on wellness, care coordination and personal service. Essence's Medicare Advantage HMOs bundle hospital, medical and prescription drug coverage together into one plan with one affordable monthly premium, and include additional benefits not covered under the Original Medicare program.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release, including but not limited to our ability to achieve profitability and the trend of our operating results towards profitability, are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, changes in local, regional, and national economic and political conditions, the effect of governmental regulation, competitive market conditions, varying trends in member utilization, our ability to manage healthcare operating expenses, our ability to achieve expected results from new and existing business, our ability to expand and manage our provider network, the profitability, if any, of our recently acquired or previously existing capitated contracts, the costs incurred in seeking new contracts, the loss or termination of any existing contract, increases or variations in cost of care, seasonality, the Company's ability to obtain additional financing, and additional risk factors as discussed in the reports filed by the Company with the Securities and Exchange Commission, which are available on its website at www.sec.gov.
Investor Contacts:
Paul Knopick
E & E Communications
[email protected]
949.707.5365
SOURCE Comprehensive Care Corporation