Keiretsu Forum Members Invest in Largest Calif. Independent Medical Provider Network; AccessMedical Provider Network Has Successful Series B Round.LAFAYETTE, Calif. -- The Northern California Chapter of the Keiretsu keiretsu: see zaibatsu. In Japan, a strong alliance of related organizations that shares knowledge and cooperates to control its sector of the business, including the supply chain and distribution. Forum, a North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. angel investor An individual who invests his or her own money in a private company, which is typically a startup. An angel investor is not an employee or member of a bank, venture capital firm or other financial institution that normally makes such investments. network, announces today its substantial investment in AccessMedical Provider Network (AMPN AMPN Amplification AMPN Air Mission Pilot Notification ). The company has raised over $900,000 from its Series A & B rounds. Keiretsu Forum members from the Northern California chapter provided funds to AMPN to support the on-going growth and success of the company. AMPN announced earlier this month that its physician membership had exceeded 30,000 physicians making it the largest independent PPO PPO abbr. preferred provider organization PPO Managed care Preferred provider organization, see there Infectious disease Pleuropneumonia-like organism, see there network in California. Owned, in part by more than 400 physicians, AMPN has developed a unique medical utilization review u·til·i·za·tion review n. A process for monitoring the use, delivery, and cost-effectiveness of services, especially those provided by medical professionals. program for the State's new workers compensation program that goes into effect on January 1, 2005. "I invested in AMPN because under due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. we discovered an opportunity which has the potential for a return on investment that had a lot of zero's quickly," said Robert Miller, Keiretsu Forum member. Under the provisions of SB899, passed in April 2004, employers and workers compensation insurance carriers can designate a Medical Provider Network ("MPN MPN Master Promissory Note MPN Most Probable Number MPN Medical Provider Network MPN Mobil Producing Nigeria MPN Manufacturer's Part Number MPN Military Personnel, Navy MPN Mobile Private Network MPN Managed Private Network MPN Mode Partition Noise ") beginning in January 2005. Employees must stay within the network for all of their workers compensation medical care. This prevents the practice of doctor shopping doctor shopping Psychiatry The visiting of multiple physicians, each time with a new symptom Substance abuse The seeking of doctors who will prescribe opioids and opiates. See Drug-seeking behavior. for a favorable diagnosis. This process resulted in attorneys' involvement in three of every four workers compensation claims resulting in permanent or temporary disability. "Orthopedic surgeons and physicians specializing in occupational medicine control directly or indirectly about 80% of all workers compensation costs," stated John Wilhelmy, Medical Director of Muir Orthopedic Specialists, a 20-physician orthopedic medical group, and Chairman of the Board of AMPN. "We have pulled these physicians together in a unified network and developed new programs and incentives for our network physicians to work closely together to control costs and expedite necessary care for the injured worker. We have also pulled together the leaders of the large orthopedic medical groups in Northern California who have agreed to make AccessMedical the preferred workers compensation network for their groups, and in many cases, their only workers compensation medical provider network their groups will participate in. Working closely with our clients, we will be able to prove that we can reduce costs when we have a model where specialty physicians can influence the utilization of resources of members in the network." AMPN is the only company in the Bay Area that offers discounts for healthcare services using its own network of local providers. The AccessMedical Provider Network is a rapidly growing statewide PPO network of over 400 physicians and outpatient providers, dedicated to offering a web-enabled, fee-for-service, membership-based healthcare program for families, individuals and businesses. About Keiretsu Forum Keiretsu Forum is a North American angel investor network of accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. private equity investors, venture capitalists and corporate/institutional investors. Keiretsu Forum members invest in high-quality, diverse investment opportunities -- collaborating on due diligence but making individual investment decisions. The Forum has eight chapters in the United States and Canada that provide early-stage and seed capital in the range of $250K-$1.5MM. Through the Keiretsu Forum Charitable Foundation, Keiretsu Forum members support local non-profit organizations by providing more than half a million in gifts annually to worthy causes. For additional information, visit www.keiretsuforum.com. |
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