OKLAHOMA CITY, Feb. 22, 2011 /PRNewswire/ -- Graymark Healthcare
Inc. (Nasdaq: GRMH), the nation's second largest provider of
diagnostic sleep services and an innovator in comprehensive care
for obstructive sleep apnea (OSA), realized a 225% year-over-year
increase in patient resupply shipments in January, a record level
for what is typically a slow month.
In January, Graymark shipped 659 re-supply parts relating to
their Continuous Positive Airway Pressure (CPAP) machines and also
realized growth in the number of sleep studies performed through
their higher margin outreach programs. The number of sleep therapy
setups also increased versus January
2010.
The re-supply portion of Graymark's business is a recurring
revenue model. Patients compliant on their CPAP devices receive
four shipments of component parts per year.
Graymark's effective five-step clinical approach to managing
sleep disorders includes a convenient referral process, accurate
and timely assessment, diagnosis, treatment and long-term follow-up
to maximize patient compliance. All steps are managed by a board
certified Sleep Medicine physician. By more completely integrating
the diagnostic and treatment processes, Graymark has substantially
improved patient compliance with CPAP care and overall disease
management.
"This record January demonstrates the momentum of our
comprehensive care model," said Stanton
Nelson, chairman and CEO of Graymark Healthcare. "Increasing
rates of CPAP re-supply orders and higher margin agreements are key
barometers that show we are successfully providing timely and
high-quality sleep management programs."
"We improved our platform metrics across the board in spite of
January typically being the most challenging due to patient
deductibles resetting," Nelson added. "These results benchmark our
continued success and validate our organic growth strategy in the
fast growing sleep management market."
Graymark is also expected to benefit from a strengthening
overall sleep disorder market. A 2010 Frost and Sullivan study
forecasts spending on sleep apnea products to grow at a compounded
rate of 13% and reach $5.3 billion by
2014.
About Graymark Healthcare
Headquartered in Oklahoma City,
Okla., Graymark Healthcare Inc. (Nasdaq: GRMH) is the
nation's second largest provider of sleep management solutions. In
addition to diagnosing and treating over 80 sleep disorders, the
company specializes in comprehensive care for Obstructive Sleep
Apnea (OSA). Graymark offers its services through 98 sleep
laboratories throughout the United
States, including standalone or IDTF facilities, rural
outreach sites and hospital or provider agreements. For more
information, visit www.graymarkhealthcare.com.
Important Cautions Regarding Forward Looking
Statements
This press release may contain forward-looking statements that
are based on the Company's current expectations, forecasts and
assumptions. Forward-looking statements involve risks and
uncertainties that could cause actual outcomes and results to
differ materially from the Company's expectations, forecasts and
assumptions. These risks and uncertainties include risks and
uncertainties not in the control of the Company, including, without
limitation, the current economic climate and other risks and
uncertainties, including those enumerated and described in the
Company's filings with the Securities and Exchange Commission,
which filings are available on the SEC's website at www.sec.gov.
Unless otherwise required by law, the Company disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
SOURCE Graymark Healthcare Inc.