Oct. 21, 2010 (Canada NewsWire Group) --
SAN FRANCISCO, Oct. 21 /CNW/ - Patient Home Monitoring (PHM) (TSXV:PHM), a company focused on in-home cardiology healthcare services, today announced the appointment of several leading cardiologists, all of whom practice in large groups that own and operate large Coumadin clinics, to a Board of Advisors.
This Board of Advisors will be responsible for advising PHM on matters ranging from market penetration, to additional service opportunities with existing clinics and patients, to quality of service for both the patient and referring physician.
The Chairman of the Board of Advisors will be Dr. Lou McKeever, MD of Midwest Heart Specialists. As a founder of Midwest Heart over 25 years ago, Dr. McKeever built the group to over 55 cardiologists with over 3500 patients managed on Coumadin through a central clinic. He has a deep understanding of financial operations of a cardiology practice and Coumadin clinic.
A Charter Member of the Board of Advisors will be Dr. Jim Adams, MD of Cardiology Associates of Marin and San Francisco. Dr. Adams has been a cardiologist for over 30 years and currently practices with a group of 18 cardiologists managing over 1500 patients on Coumadin through a central clinic.
Another Charter Member of the Board of Advisors will be Dr. Kelly Tucker, MD of Orange County Heart Institute in California. Dr. Tucker specializes in electrophysiology, a specialty where the majority of his patients are on Coumadin therapy. Dr. Tucker practices in a group of 12 cardiologists managing over 1200 patients on Coumadin through a central clinic.
PHM will work closely with Dr. McKeever to appoint additional members qualified to offer advice on how to best attract and secure large groups of clients, improve and expand services and retain a high level of quality and professionalism.
"I am excited about being part of this opportunity," said Dr. McKeever, Chairman of the Board of Advisors for Patient Home Monitoring. "Coumadin is a life saving drug and monitoring patients is essential to reduce the risk of side effects. I have seen firsthand how PHM's service has benefited a large number of our patients. I have also seen how PHM's unique systematic approach can have a tremendously positive impact on a Coumadin clinic while providing better care for patients."
"The Board of Advisors has already started to help PHM," said Ed Berenblum, CEO of Patient Home Monitoring. "They are working with our sales and marketing team to hone our approach to new potential customers, many of whom our Board of Advisors is already familiar with. They are working with our operations team to increase our responsiveness to the needs of a clinic. They are helping PHM be clinically focused, providing top quality services to both the patient and the clinician."
"Cardiologists tend to be a close-knit group of professionals," continued Mr. Berenblum. "PHM has chosen a group of advisors that have successfully built large cardiology practices with high quality Coumadin clinics. Thanks to their agreement to work with PHM, our common goals of better healthcare for patients, better financial outcomes for clinics and increased shareholder value can be achieved."
PHM is a healthcare services company focused on providing in-home testing for patients on blood thinner medications such as Coumadin or warfarin. Medicare recently expanded reimbursement for in-home patient self testing (PST) of blood coagulation levels. PHM has a unique value proposition to cardiology groups that manage patients on blood thinners, focusing on systemization to enroll patients in PST. This unique, systemized approach creates an opportunity for physician groups to operate more efficiently, increasing revenue to their clinics while providing a higher standard of care for patients.
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of PHM and anticipated events or results, are assumptions based on beliefs of PHM's senior management as well as information currently available to it. While these assumptions were considered reasonable by PHM at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue operations, decline of reimbursement rates, dependence on few payors, possible new drug discoveries, a novel business model, dependence on key suppliers, granting of permits and licenses in a highly regulated business, competition, low profit market segments as well as general economic, market and business conditions, and could differ materially from what is currently expected.
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|Michael Dalsin |
Chairman, Patient Home Monitoring
Managing Director, Stanmore Capital Partners, Inc.
416-815-0700 ext. 241