Early Warning for 4th quarter? Patient Home Monitoring Provides Calendar Year-End Update
09:00 EST Thursday, December 10, 2015
LAFAYETTE, LOUISIANA--(Marketwired - Dec. 10, 2015) - Patient Home Monitoring (PHM) (TSX VENTURE:PHM), a profitable company focused on the annuity-based healthcare services market in the US, announced that it released a calendar year end update on growth initiatives and operations.
PHM is offering an ever-larger suite of products and services to an increased geographic footprint in the US. While investing in enrollment growth for all of its existing products and services, PHM's mission in the market has always been to offer newly reimbursed and high demand services and products to patients. These cutting edge products often offer higher margins and limited competition.
PHM has made it a priority in time and resources, since the acquisition of Sleep Management, to establish improved procedures for launching respiratory services into existing markets as well as new geographical areas. The success is being seen clearly through a growth of respiratory services throughout the well-established markets that PHM has historically served with other product lines. The growth in respiratory services is primarily the result of integrating acquisitions made earlier in the year and better utilizing the infrastructure and scale that has been created by PHM.
In addition, PHM has launched initiatives throughout a number of new service and product lines that will continue to augment its existing lines. While none of these are at a point of significant revenue generation, PHM is very optimistic about its plan to significantly expand its patient database through participation in Accountable Care Organizations (ACOs) and Managed Service Organizations (MSOs). These prospects, as well as additional services lines, will continue to drive new opportunities and PHM will deliver more updates in the future.
While the fourth quarter was heavily focused on integration of new acquisitions and divisions, the first quarter has been focused on growth among these divisions. As a result, the fourth quarter is expected to have higher than usual expenses, but the first quarter is on track to be a record quarter for both revenues and EBITDA.
"We are enthusiastic about offering new products and services to our growing list of patients and referring professionals," said Casey Hoyt, CEO of PHM. "The MSO initiative is particularly exciting in that we can improve the financial impact for certain referring physician groups to improve patient care. This will give them an added incentive to enroll patients in money-saving home healthcare solutions with PHM."
"We continue to be focused on improving services offered to patients, increasing our geographic footprint and growing our business through a dual pronged approach of organic growth and accretive acquisitions," continued Mr. Hoyt. "I am optimistic that 2016 will be a record year in terms of revenues and profits."
As with every calendar year end, updates in coverage by Medicare have been made effective for 2016 for all of PHM's products and services. See www.cms.gov for details.