CYBeR-CARE Announces Contract With AmeriChoice Health Services.BOYNTON BEACH Boynton Beach, city (1990 pop. 46,194), Palm Beach co., SE Fla., on the Atlantic coast; inc. 1920. A major suburban area, it is also a beach resort and vegetable-shipping point. , Fla.--(BW HealthWire)--Dec. 8, 1999-- CYBeR-CARE Inc. (Nasdaq:CYBR CYBR Copy Byte Right ) announced Wednesday that it has launched a new product application based on its patented Internet healthcare technology which provides a system for video case management. The company has executed its first contract for this application, a risk-sharing agreement with AmeriChoice Health Services health services Managed care The benefits covered under a health contract Inc. of Vienna, Va. to provide care for Medicaid patients in three eastern states Eastern States can refer to several locations:
AmeriChoice Health Services Inc. develops and operates healthcare plans and provides managed care development and management services. The contract will initially cover 150 of the 200,000 patients covered in the AmeriChoice health programs serving Medicaid populations in Philadelphia, New York Philadelphia, New York may refer to:
The CYBeR-CARE agreement will demonstrate the viability of a risk-sharing model for its Electronic Housecall System. The AmeriChoice program will show that both parties can benefit from sharing in the cost savings. Prior studies indicate that use of tele-home healthcare produces improved health and patient satisfaction, and results in a 35%-50% reduction in overall healthcare costs for the patients served by avoiding the need for costly interventions such as emergency room visits. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. John Haines, president of CyberCare Technologies, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CYBeR-CARE, "The sharing of healthcare cost reductions with AmeriChoice could be more profitable for us than the direct sale of the equipment." "We have been investigating and implementing new methods of improving patients' health while managing costs for many years now. We are excited about this program because it addresses the needs of our most severely ill patients in a way that truly benefits the patients, and the expertise that CYBeR-CARE offers will help us implement the program in the most cost-effective manner," said Dr. Denise Hamilton-Ross, Corporate Medical Director of AmeriChoice. Dr. Hamilton-Ross also stated, "We are also using the system for members of our Medicare+Choice plans that we are launching Jan. 1, 2000, and we plan as fast a run-up on the number of patients as our staff can handle." Based in Boynton Beach, CYBeR-CARE is a technology assisted disease state management company with four business lines. The company offers an Electronic Housecall System, a patented Internet based technology system that remotely monitors chronically ill patients, as well as related product applications. In addition, CYBeR-CARE operates physical, occupational and speech therapy centers, an e-pharmacy and one of the world's largest international air ambulance air ambulance Emergency medicine A helicopter or, less commonly, a fixed wing aircraft, used to evacuate a person who requires immediate medical attention that cannot be provided at his/her current location transport service. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. |
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