SCOTTSDALE, ARIZONA--(Marketwired - Aug. 17, 2016) - Certive Solutions Inc. (OTCQB:CTVEF) (CNSX:CBP) - ("Certive" or the "Company"), is pleased to announce that gross revenues for the month ended July 30, 2016, totalled $428,107. Of this total, $325,493 was generated by the Titan Division, with an operating margin of $170,733 or 52%. The Titan Division was profitable for the month, booking $59,027 in net operating profit or 18% of divisional revenues. Titan Divisional results for June and July demonstrates solid performance as it continues to focus on its high margin zero balance business.
With the previously announced appointments of Brian Diver as COO and Michael Groeger as Vice President Sales, the Company is focused on the performance of both its Omega and Titan Divisions.
The Omega Division is highly scalable with no additional staffing or operating costs required to attain monthly operating levels in excess of $500,000. With breakeven monthly revenues at approximately $180,000, any revenue in excess of this will contribute directly to Certive's consolidated net income. One near-term agreement presently in the final stages of completion will initially add an estimated $150,000 in monthly gross revenue.
Van Potter, CEO of the Company stated that "this trend of organic growth and increasing divisional contribution margins will lead to near-term consolidated profitability, positioning the close of the previously announced major acquisition to be significantly accretive to Certive."
About Certive Solutions Inc.
Certive Solutions Inc. (Scottsdale, Arizona) provides revenue cycle management solutions to the U.S. healthcare market. Certive's claim audit and recovery services, billing services, and software solutions help providers work with payers to efficiently manage the reimbursement process and improve financial performance. Certive's highly skilled and experienced management team, combined with proprietary workflow and analytics, audit and identify, and bill and collect, underpayments in accordance with contractual obligations between the public or commercial insurance carrier and the designated provider. The healthcare market is changing. Certive works with clients to provide efficient and effective solutions aligned with reform initiatives to improve healthcare and reduce costs.
FORWARD-LOOKING AND OTHER STATEMENTS
This press release contains forward-looking statements. These statements relate to future events or future performance and reflect our expectations and assumptions regarding our growth, results of operations, performance and business prospects and opportunities. Such forward-looking statements reflect our current beliefs and are based on information currently available to us. In some cases, forward-looking statements can be identified by terminology such as "may", "would", "could", "will", "should", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other similar expressions concerning matters that are not historical facts.
A number of factors could cause actual events, performance or results, including those in respect of the foregoing items, to differ materially from the events, performance and results discussed in the forward looking statements.
Factors that could cause actual events, performance or results to differ materially from those set forth in the forward-looking statements include, but are not limited to:
- the effect of continuing operating losses on our ability to obtain, on satisfactory terms, or at all, the capital required to remain a going concern;
- the ability to obtain sufficient and suitable financing to support operations, development and commercialization of our services;
- the risks associated with the development of our technology;
- the risks associated with the increase in operating costs from additional development costs and increased staff;
- the timing and nature of feedback from customers; and
- our ability to successfully compete in our targeted markets.
Although the forward-looking statements contained in this press release are based on what we consider to be reasonable assumptions based on information currently available to us, there can be no assurance that actual events, performance or results will be consistent with these forward-looking statements, and our assumptions may prove to be incorrect. These forward-looking statements are made as of the date of this press release. Forward-looking statements made in this press release are made as of the date of the original document and have not been updated by us except as expressly provided for in this press release. As required by securities legislation applicable to reporting issuers, it is our policy to update, from time to time, forward-looking information in our periodic management discussions and analyses and provide updates on our activities to the public through the filing and dissemination of news releases and material change reports.