PHC, Inc. Announces New Contract to Provide Capitated Behavioral Health Services in Michigan.PEABODY, Mass.--(BW HealthWire)--March 8, 1999--PHC, Inc., dba Pioneer Behavioral Health Behavioral health was first used in the 1980's to name the combination of the fields mental health and substance abuse. As an example, an organization serving both mental health and substance abuse clients might refer to its practice as behavioral health or (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 :PIHC) announced today that its subsidiary, PCC PCC prothrombin complex concentrate. of Michigan, has signed a contract with the Physician Organized Healthcare System based in Pontiac Michigan ("POHS POHS Prohibition on Certain Hazardous Substances (Norway) POHS Presumed Ocular Histoplasmosis Syndrome "). POHS is a five year old organization consisting of approximately 140 physicians. POHS's services serve the many HMOs in the Pontiac area. The contract provides fully capitated behavioral health services to a select group of members contracted with POHS. Bruce A. Shear, President, stated, "This contract provides, on a capitated basis, all behavioral health services including prescriptions. PHC PHC Primary health care, see there believes this is the first such contract in Michigan whereas a specialty behavioral healthcare provider is managing pharmacy costs in addition to direct patient care." Mr. Shear further stated, "This contract reinforces the flexibility that Pioneer has to develop specialty behavioral health services. Pharmacy cost management has historically been an area in which insurance companies have not controlled their costs well. We have established a team of trained physicians to manage these pharmacy benefits." Pioneer Behavioral Health's core business provides inpatient inpatient /in·pa·tient/ (in´pa-shent) a patient who comes to a hospital or other health care facility for diagnosis or treatment that requires an overnight stay. in·pa·tient n. and outpatient behavioral healthcare services. Pioneer contracts with national insurance companies in addition to major transportation and gaming companies who have selected them to provide behavioral health services. This press release may include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. about the Company's revenues and earnings and future plans and objectives. Any such statements are subject to risks and uncertainties that could cause the actual results to vary materially. These risks are discussed in the Company's Report on Form 10-KSB for the years ended June 30, 1996, June 30, 1997 and June 30, 1998 filed with the Securities and Exchange Commission on October 4, 1996, October 14, 1997, and October 13, 1998 respectively. NOTE TO EDITORS: Pioneer's press releases are available at no charge through Business Wire's News On Demand fax service. For a menu of Pioneer's press releases or to retrieve a specific release, call 1-800-469-1254. |
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