Printer Friendly
The Free Library
5,666,494 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

HearUSA's Exclusive Managed Care Contracts Cover 2.5 Million Members.


New and Expanded Managed Care Agreements Exceed 40 Year-to-Date

HearUSA Now Exclusive Provider to 800,000 of 10 Million U.S. Seniors under Managed Care

WEST PALM BEACH, Fla. -- HearUSA, Inc. (AMEX AMEX

See: American Stock Exchange
:EAR), the recognized leader in hearing care for the nation's top managed care providers, announced that since the beginning of the year it has added more than 40 new or expanded agreements with the nation's leading managed health care organizations.

These new agreements will offer hearing benefits to qualified members beginning later this year or in 2008. They include "capitated" programs, where HearUSA is the exclusive provider of hearing care to the issuer's qualified members. The number of patients covered under these exclusive agreements has more than doubled the last five years, from 1.1 million to 2.5 million. This also now includes 800,000 of the 10 million U.S. senior citizens who have joined managed care organizations.

HearUSA has more than 400 payors in the managed care market, including agreements with eight out of the nation's ten largest health insurance companies and every one of the top five. HearUSA has national partnerships with several major health plans, including Kaiser Foundation The mission of the Kaiser Foundation is to assist individuals and communities in preventing and reducing the harm associated with problem substance use and addictive behaviours. External links
  • Kaiser Foundation
 Health Plan, Humana Health Plans, and WellCare Health Plans, and has expanded its service agreements to keep pace with the growing managed care Medicare market. The company is also a hearing care provider for the Veterans Administration in several areas of the country, and has provided hearing services to thousands of qualified veterans. About 45% of HearUSA's revenues are generated from patients who have some kind of third-party payor reimbursement Reimbursement

Payment made to someone for out-of-pocket expenses has incurred.
.

HearUSA has recently expanded its exclusive provider relationship with Humana Inc. (NYSE NYSE

See: New York Stock Exchange
: HUM), one of the nation's largest health benefits companies. This includes servicing Humana's senior 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,
 products in five additional states for 2008. "Our partnership with HearUSA plays a key role in providing the best of care for our members, particularly as we increasingly bring hearing care into the realm of covered benefits for our Medicare population," said Michael A. Seltzer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Senior Products for Humana Florida. Humana is expected to expand its hearing care plans to several more Medicare markets over the coming months.

Stephen J. Hansbrough, HearUSA's president and CEO, said, "All of these new agreements will be serviced by our company-owned centers or through our Hearing Care Network, which is comprised of some 1,600 independent audiologists. While many of these agreements are start-ups and planned expansions, they represent an important and steadily growing segment of our business in an area where HearUSA is generally regarded as the industry leader. Despite the need for better hearing care in this country, not all insurers provide hearing care as part of their member services. However, our numbers show this is changing dramatically as awareness is growing along with the aging population, as well as the fact that hearing care is not a covered benefit under Medicare."

Independent studies, like those from the National Council on Aging, have demonstrated the negative impact of untreated hearing loss on quality of life and independence - factors very important to seniors and their families. Full or partial hearing aid coverage helps to defray de·fray  
tr.v. de·frayed, de·fray·ing, de·frays
To undertake the payment of (costs or expenses); pay.



[French défrayer, from Old French desfrayer : des-,
 out of pocket costs and is an important benefit for the Medicare population.

The Better Hearing Institute reports about 10% of Americans, or more than 31 million people, have some degree of hearing loss. Fifteen percent of adult baby boomers See generation X.  (age 45-64) and almost one third of those over age 65 have hearing loss. Increased exposure to noise is cited as a primary cause of hearing loss, which is most often found in males (60%) compared to females. As baby boomers and retirees move into the Medicare market, they expect their health plan to provide a full menu of health related services that includes hearing care.

HearUSA is uniquely qualified to partner with managed care organizations because of its company-owned centers' accreditation by the Joint Commission on Accreditation of Healthcare Organizations Joint Commission on Accreditation of Healthcare Organizations,
n.pr the United States body that accredits healthcare organizations.

Joint Commission on Accreditation of Healthcare Organizations (JCAHO/TJC),
n.
 (www.jcaho.org), which is a predominant pre·dom·i·nant  
adj.
1. Having greatest ascendancy, importance, influence, authority, or force. See Synonyms at dominant.

2.
 standards-setting and accrediting body in health care that evaluates and accredits 15,000 health care organizations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. .

The Joint Commission's comprehensive accreditation process evaluates an organization's compliance with these standards and other accreditation requirements, and consists of a rigorous on-site survey every three years. By contracting with a qualified hearing care provider network, the health plan ensures that their membership receives quality care, consistent delivery of services and products, and added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:

Added Value = Sales - Purchases - Labour Costs - Capital Costs
 features including discounted rates.

About HearUSA

HearUSA, Inc. provides hearing care to patients primarily through more than 173 company-owned hearing care centers, which offer a complete range of quality hearing aids Hearing Aids Definition

A hearing aid is a device that can amplify sound waves in order to help a deaf or hard-of-hearing person hear sounds more clearly.
 with an emphasis on the latest digital technology. HearUSA Centers are located in California, Florida, New York Florida is the name of some places in the U.S. state of New York:
  • Florida, Montgomery County, New York, a town.
  • Florida, Orange County, New York, a village.
, New Jersey, Massachusetts, Ohio, Michigan, Missouri and the province of Ontario, Canada. The company also derives revenues from its HearUSA Hearing Care Network, comprised of 1,600 affiliated audiologists in 49 states, as well as its website that enables online purchases of hearing related products, such as batteries, hearing aid accessories and assistive listening devices. For further information, click on "investor information" at the HearUSA website: www.hearusa.com.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Aug 28, 2007
Words:856
Previous Article:Conduit Unleashes Network of 12 Million Community Toolbar Users to Publishers Worldwide.
Next Article:China Southern Announces New One Ticket Hainan Service.
Topics:



Related Articles
Duck grapplers send out SOS.(Sports)(Longtime Duck coach wants to raise $3.5 million to endow the program)
Talks stall between LTD, bus drivers.(Transportation)(Mediation and binding arbitration could be future stops in the negotiations)
Educator convicted of sexual offenses.(Courts)(The former Churchill chemistry teacher's interactions with two students led to charges)
Serrano withdraws from Duck baseball search.(Sports)(UC Irvine coach cites family concerns as main factor for ending his candidacy)
Wanted: Top lawyer.(Editorials)(Hardy Myers won't seek a fourth term as AG)(Editorial)
'SEPTEMBER DAWN' FAILS HISTORY TEST.(LA.COM)
INDEPENDENT'S DAY TWO HOLLYWOOD VETERANS GO OUTSIDE THE MAINSTREAM TO MAKE MOVIES THEIR WAY.(LA.COM)
Badger Mining wins second consecutive award as Best Small Company in America to Work for.(North America)
Into the deep.(SHAKEOUT: In case you didn't know ...)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles