Apollo Medical Holdings, Inc. ("ApolloMed") (OTC-QB: AMEH), an integrated, physician-centric healthcare delivery company, today announced interim financial results from the Centers for Medicare and Medicaid Services (“CMS”) that show that ApolloMed ACO beat its benchmark by $3.1 million.
The interim financial results released from CMS indicate that ApolloMed ACO, in its first 12 months, had $3.1 million less in expenditures for its patient population than its benchmark. Of the 114 Medicare Shared Savings Program (“MSSP”) ACOs that started operations in 2012, 54 had lower expenditures compared to their benchmarks and ApolloMed ACO is one of those. ApolloMed ACO was selected by CMS to participate in the Medicare Shared Savings Program in July 2012 and its first performance year covers 18 months, from July 2012 to December 2013. Final performance year-one results will be released by CMS later this year.
“We are extremely pleased with these preliminary results. They validate our integrated care model and demonstrate the positive impact of our population health management efforts,” stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings. “Early on in our development, we focused on data analytics and our own proprietary high-risk assessment tool to identify those patients who would benefit the most from specific interventions. This enabled us to proactively provide specialized care for certain patient populations.”
About ApolloMed ACO
A division of Apollo Medical Holdings, Inc., ApolloMed ACO was one of only eight ACOs selected to participate in the Medicare Shared Savings Program (“MSSP”) by CMS in the State of California in 2012. Physicians in Greater Los Angeles, Orange County and Central California have joined ApolloMed ACO to enhance patient engagement and lower healthcare costs through the coordination of care and integration of clinical services across all aspects of a patient’s healthcare needs – whether in the primary care office, seeing a specialist, admitted to the hospital or at home. Through a shared commitment to reducing Medicare expenditures and delivering superior quality care to its patients, ApolloMed ACO and its physicians enjoy a culture that supports, incentivizes and rewards continuous quality improvement across the care continuum.
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 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 four affiliated and complementary physician groups: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization), Maverick Medical Group (Independent Physician Association) 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, 2013 and in any of the Company’s other subsequent Securities and Exchange Commission filings.
Contacts
Financial Profiles, Inc.
Jody Cain, 310-478-2700
jcain@finprofiles.com