RANCHO CUCAMONGA, CA--(Marketwired - Jan 19, 2017) - Proto Script Pharmaceutical Corp. dba PSP Homecare ("PSP" or the "Company") (OTC PINK: PSCR), a durable medical equipment provider, today provided this update regarding its current business and future expansion plans with Independent Practice Associations.
Independent Practice Associations or IPAs are businesses organized and owned by a network of independent physicians for the purpose of reducing overhead and pursuing business ventures such as direct health care services contracts with employers, HMO's, and other medical insurers. IPA's range in size from small three physician networks to larger organizations of 100's of physicians. Employers, HMO's, and other managed care plans can contract with multiple IPA's to treat their members (patients) at discounted fees or on a per-member basis.
For the independent physician, this joining of forces with other physicians in an IPA offers them a clear way to improve overall patient care, increase cooperation with insurance companies, and reduce the administrative burdens of negotiating payer contracts, all while preserving their independence. For patients, IPA's enable them to maintain a strong relationship with their primary care physician while gaining access to a larger network of collaborative health care services, such as specialty practices, imaging centers, labs, hospital systems, and numerous other benefits.
"The unique partnership embodied in the doctor/patient relationship is still one the cornerstones of our healthcare system, and IPA's have enabled that relationship to continue despite the changing healthcare and insurance regulatory landscape," commented Michelle Rico, CEO of Proto Script Pharmaceutical Corp. "In working directly with IPA's and other private insurers across the country, PSP Homecare can gain access to an extremely large potential customer base of insured patients outside of Medicare that would benefit from a new power wheelchair or scooter, or get service and repair for their existing unit at one of our many future locations."
In addition to its current multi-year contract with the Centers for Medicare and Medicaid Services (CMS) to provide products to Medicare insurance beneficiaries, PSP Homecare has also successfully obtained contracts with two IPA's to provide products to their insured patients. PSP Homecare anticipates this number will grow as the Company ramps up its marketing strategy and expands into new regions.
Michelle Rico concluded, "We are only just beginning to realize the growth potential of our unique business model. With over 600,000 IPA's and over 4,000 other private insurers in the United States, the opportunity to expand our business on a national scale is truly enormous."
Further details regarding PSP Homecare's planned business expansion and other updates will be made as additional information becomes available.
About Proto Script Pharmaceutical Corp.
Proto Script Pharmaceutical Corp. dba PSP Homecare provides a comprehensive collection of durable medical equipment (DME) like canes, crutches, walkers, commodes, patient lifts, hospital beds, orthotics (braces), wheelchairs, scooters, power wheelchairs, rehabilitation equipment, and accessories. Currently serving California and Nevada, PSP Homecare has specialized in the repair of power wheelchairs and the sale of orthotics since 2011. The Company deals with a growing list of federal, state and private insurance providers such as Medicare, Medi-Cal, Nevada Care and Blue Cross among several others.
Additional information regarding PSP Homecare can be found at www.psphomecare.com.
Proto Script Pharmaceutical Corp. files reports with the Securities & Exchange Commission on EDGAR and anticipates continuing to file such reports. The Company's filings can be viewed at www.sec.gov.
Cautionary Language Concerning Forward-Looking Statements
This Proto Script Pharmaceutical Corp. press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company's mission statement and growth strategy, are "forward-looking statements." Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.