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SOURCE Apollo Medical Holdings, Inc.
GLENDALE, Calif., Sept. 16, 2013 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB:AMEH), a physician-centric integrated healthcare delivery company,' today announced that Integrated Healthcare Holdings, Inc. (OTCBB: IHCH) ("IHHI") has signed a hospital ACO (Accountable Care Organization) participation agreement with ApolloMed ACO in Orange County, California.
Based in Santa Ana, California, IHHI is a publicly traded hospital management company that owns and operates four hospital facilities in Orange County, California: 282-bed Western Medical Center in Santa Ana, 188-bed Western Medical Center in Anaheim, 178-bed Coastal Communities Hospital in Santa Ana and 114-bed Chapman Medical Center in Orange.
Under the terms of the agreement, ApolloMed and IHHI will partner to provide ACO patients with high quality care focused on achieving better outcomes at lower costs. ApolloMed will also work with IHHI aligned providers to share clinical data, manage high-risk patients, coordinate care across each patient's full care continuum and to establish quality benchmarks for the delivery of highly attentive care.
"We are very pleased that IHHI has elected to team its hospitals with ApolloMed ACO," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings, Inc. "We look forward to working with our network of ACO physicians in Orange County, as well as IHHI's hospital case managers, nursing staff and hospital administrators to enhance patient care and efficiencies, and to share in the cost savings we realize as a result of our concerted efforts."
According to the L.E.K. Consulting Strategic Hospital Priorities Study, published in April 2013, the most critical initiatives of hospitals' strategic plans in 2013 continue to be "cost management," "data connectivity across the spectrum of clinical care," and "utilization of outcomes data." The survey tracked disruptions to traditional healthcare models that have been underway for the past few years and found that ACOs are taking hold with over 80% of surveyed hospitals making future plans to join or are already participating in an ACO.
"The success of healthcare reform rests on transforming into a more effective, cost-efficient healthcare system," stated Kenneth Westbrook, Chief Executive Officer and President of Integrated Healthcare Holdings, Inc. "By leveraging ApolloMed ACO's coordinated care platform, IHHI looks forward to identifying opportunities to further enhance the high quality metrics and outcomes of our patients' care, and, in the process, to increase our competitive edge in the markets we serve."
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
407-585-1080 or via email at AMEH@hanoverelite.com
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