Apollo Medical Holdings, Inc. (ApolloMed) (OTC-QB: AMEH), an integrated, physician-centric healthcare delivery company, today announced that it has entered into an agreement to provide comprehensive hospitalist services for Blue Shield of California PPO members at hospitals at which ApolloMed is present. Additionally under the agreement, ApolloMed has extended its inpatient care to Cedars-Sinai® Medical Center for Blue Shield PPO, Exchange, Out of Network, and some HMO member patients. The agreement became effective May 12, 2014
“Partnering with ApolloMed reflects our shared commitment to provide patients with the best possible outcomes,” stated Marc Richmond, M.D., Regional Medical Director at Blue Shield of California. “Changes in the healthcare environment are increasing the need for a coordinated approach that focuses on efficiencies in managing patients and on quality patient care. We look forward to collaborating with ApolloMed physicians on staff at these hospitals to effectively manage care and provide positive member experiences.”
“We are excited to be selected by Blue Shield as its hospitalist partner,” stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings. “We provide ‘Best in Class’ inpatient services to effectively manage care and optimize utilization. We also enhance care by developing a transition plan for a timely discharge and appropriate outpatient follow-up care that could prevent hospital readmissions.”
Under this agreement, Blue Shield of California and ApolloMed hospitalist staff will work closely together in patient management throughout the hospital stay. Following discharge, Blue Shield of California members will receive follow-up care and prescriptions from the ApolloMed hospitalist staff to ensure a smoother transition.
“In conjunction with this agreement, we are pleased to expand our hospitalist services to Cedars-Sinai Medical Center, which has an outstanding reputation for high-quality care,” added Dr. Hosseinion.
ApolloMed is currently providing inpatient services at more than 28 hospitals and long-term acute care facilities in Los Angeles and Central California. The Company also is contracted with more than 50 hospitals, independent physician associations (IPAs) and health plans in California to provide a range of services including hospitalist, intensivist, physician advisor and consulting services.
About Blue Shield of California
Blue Shield of California, an independent member of the Blue Cross Blue Shield Association, is a not-for-profit health plan with 3.3 million members, 5,000 employees and $10.8 billion in annual revenue. Founded in 1939 and headquartered in San Francisco, Blue Shield of California provides health, life, dental, vision, and Medicare insurance and health care service plans in California. Blue Shield of California was named one of the World’s Most Ethical Companies in 2012, 2013 and 2014. Since 2005, the company has contributed more than $200 million to the Blue Shield of California Foundation, one of BusinessWeek's most generous corporate foundations. More information is available at www.blueshieldca.com.
About Apollo Medical Holdings, Inc. (ApolloMed)
ApolloMed is a leading integrated, physician-centric healthcare delivery company committed to providing exceptional multi-disciplinary care in the communities it serves. ApolloMed is addressing the healthcare needs of the nation’s largest population center by leveraging its integrated healthcare delivery platform comprised of four affiliated and complementary physician groups: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization), Maverick Medical Group (Independent Physician Association), AKM Medical Group (IPA) and ApolloMed Care Clinics. ApolloMed strives to improve medical outcomes with high-quality, cost-efficient care. For more information, please visit www.apollomed.net.
Forward Looking Statements
This press release may contain forward-looking statements, including information about management's view of future expectations, plans and prospects for Apollo Medical Holdings, Inc. (“the Company”). In particular, when used in the preceding discussion, the words “predicts,” "believes," "expects," "intends," “seeks,” “estimates,” "plans," "anticipates," and similar conditional expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could” are intended to identify forward-looking statements. In addition, our representatives may from time to time make oral forward-looking statements. Any such statements, other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based on the current expectations and certain assumptions of the Company’s management. Such statements are, therefore, subject to a variety of known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company, its subsidiaries and concepts to be materially different than those that may be expressed or implied in such statements or anticipated on the basis of historical trends. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company’s actual results, performance or achievements may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. Unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included herein are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update or revise these forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended January 31, 2014 and in any of the Company’s other subsequent Securities and Exchange Commission filings.
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