GLENDALE, Calif., July 2, 2013 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB:AMEH), an integrated physician-centric healthcare delivery company that puts 'Patients First,' today announced that its subsidiary ApolloMed ACO (Accountable Care Organization) has contracted with Mission Hospice to improve end-of-life care and quality of life of terminally ill patients assigned to ApolloMed ACO. Additional objectives of the partnership include providing meaningful support and comfort to family caregivers, limiting or avoiding stressful emergency room visits and hospitalizations of these patients and, in turn, reducing costs that would otherwise be extraordinarily high during the last year of life.
According to the U.S. Department of Health and Human Services, medical costs during the last year of life account for 10% of the nation's $2.6 trillion healthcare budget. For those aged 65 and older, the last 12 months of life account for 27% of total costs in that age group, and 40% of that is spent in the last 30 days of their lives – largely on medical treatment to prolong life. When comparing California to the country as a whole, a recent report published by the California Healthcare Foundation showed that the State had a higher percentage of patients dying in the hospital, more ICU days, and a higher percentage of deaths that included a stay in the ICU. Moreover, in three-quarters of California regions, dying patients spent more time in the hospital on average than in the rest of the country.
Pursuant to the agreement between ApolloMed ACO and Mission Hospice, the companies will collaborate on the creation of an advanced illness management program tailored for terminally ill patients under ApolloMed ACO's care. The first step will be to identify those patients who have fewer than 12 months to live. ApolloMed ACO, its primary care physicians and Mission Hospice will then team to implement a comprehensive and compassionate hospice and palliative care plan that is focused on enabling each patient to live life more fully, more completely and more in control. Patients will also have access to a 24/7 call center to report medical problems.
Ken Lehmann, President of Mission Hospice, stated, "We are very pleased to be partnering with ApolloMed to enable its patients with an advanced life-limiting illness to continue an alert, pain-free life and to manage other symptoms so that their last days may be spent with dignity and quality, surrounded by their loved ones."
"Our association with Mission Hospice allows ApolloMed ACO to better meet our commitment of putting 'Patients First' by helping our terminally ill patients and their families through the final phase of life with quality medical care, support, education and counseling. We believe this program will be a great service to our patients while also significantly reducing medical costs and unnecessary stress and suffering," added Warren Hosseinion, M.D., CEO of ApolloMed.
About Mission Hospice
Founded in 1997 and headquartered in South Pasadena, California, Mission Hospice is one of the largest providers of compassionate care and support to patients and families residing in the Greater Los Angeles area. Its team of highly skilled, interdisciplinary healthcare professionals – available 24 hours a day, seven days a week – delivers quality medical, emotional, spiritual and social support and comfort to patients in private homes, skilled nursing facilities, board and care facilities and assisted living facilities. For more information, visit www.missionhospice.net.
About Apollo Medical Holdings, Inc. (ApolloMed)
Headquartered in Glendale, California and dedicated to putting the 'Patient First,' ApolloMed is a leading provider of physician-centric integrated healthcare management services, fueled by its commitment to provide exceptional multi-disciplinary care in the communities it serves in Southern and Central California. ApolloMed is addressing the healthcare needs of the nation's largest population center by leveraging its integrated healthcare delivery platform comprised of three affiliated and complementary physician groups: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization) and Maverick Medical Group (Independent Physician Association). This platform combines hospitalist medicine, critical care medicine, case management and transition management that enable healthcare organizations to engage in performance payments for utilization efficiency, quality of care objectives and shared accountability arrangements. 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, 2013 and in any of the Company's other subsequent Securities and Exchange Commission filings.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT
Kathy Addison, Chief Operating Officer
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SOURCE Apollo Medical Holdings, Inc.