Abbey Healthcare Group Incorporated enters into exclusive agreement with Health Net.COSTA MESA Costa Mesa (kŏs`tə mā`sə), city (1990 pop. 96,357), Orange co., S Calif., on the Pacific south of Santa Ana; inc. 1953. It is a transportation, residential, and light industrial center. , Calif.--(Health Wire)--April 27, 1995--Abbey Healthcare Group Incorporated (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABBY) Thursday announced that it has entered into a capitated agreement with Health Net, California's second-largest health maintenance organization (HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, ) serving more than 1.3 million members throughout the state. Effective Jan. 1, 1995, Abbey Healthcare Group began providing, on an exclusive basis, its complete offering of all homecare services, including respiratory therapy respiratory therapy Medical profession concerned with assisting the respiratory function of individuals who have severe lung disorders. Practices include suctioning to clear secretions from the airway, use of aerosol mists (sometimes medicated) or gases to ease breathing, , infusion therapies and infusion nursing, home medical equipment and home health nursing. This agreement is a result of the previous exclusive two-year infusion contract between Health Net and Abbey Infusion Services (a wholly-owned subsidiary of Abbey Healthcare Group), and has provided Abbey the opportunity to expand its offering to reflect a broader range of services. Abbey Healthcare Group manages patients by disease-state through its Coordinated Care Center, a central intake unit designed to coordinate patient care from the point of diagnosis by providing a complete comprehensive offering of homecare products and services. Abbey Chairman of the Board and Chief Executive Officer Timothy M. Aitken commented on the exclusive agreement, "This capitated contract further demonstrates our capabilities in providing a complete comprehensive offering by integrating all of our homecare services. Aitken added, "We continue to successfully meet the needs of the payor and patient by combining coordinated care pathways and innovative patient management systems with our ability to assume risk. We look forward to providing Health Net's membership with cost-effective quality patient care and service." Woodland Hills, Calif.-based Health Net is the HMO subsidiary of Health Systems International (NYSE NYSE See: New York Stock Exchange :HQ), one of the nation's largest managed care organizations providing services in California, Colorado, Connecticut, Idaho, New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). , Oregon and Washington. Health Systems International serves more than 1.5 million members system-wide. Abbey continues to emphasize its focus on managed care contracts. The company has nearly 1,600 active national, regional and local agreements. Costa Mesa-based Abbey Healthcare Group Incorporated provides a broad range of respiratory therapy, infusion services and home medical, clinical and rehabilitation equipment through a network of 235 branches servicing patients in 48 states. The company recently announced its intention to merge with Fountain Valley Fountain Valley, city (1990 pop. 53,691), Orange co., S Calif.; inc. 1957. Chiefly residential, Fountain Valley also has diverse manufactures, including apparel, computer equipment, semiconductors, and medical equipment. A U.S. navy helicopter facility is there. , Calif.-based Homedco Group Incorporated (NASDAQ:HOME), also one of the nation's largest leading providers of home healthcare, to form a new company. This combined company will be the largest fully-integrated homecare provider in the nation. CONTACT: Abbey Healthcare Group Incorporated, Costa Mesa Susan J. Lewis, 719/520-1313, 714/957-2416, or 719/635-4714 after hours Adv. 1. after hours - not during regular hours; "he often worked after hours" OR Health Net, Woodland Hills, Calif. Don Prial Pri´al n. 1. A corruption of pair royal. See under Pair, n. os> , 818/593-7304, or 818/713-1450 after hours |
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