TAMPA, Fla., April 12, 2012 /PRNewswire/ -- Comprehensive
Care Corporation ("CompCare") (OTC BB: CHCR), a leading behavioral
health, substance abuse and psychotropic pharmacy management
services provider for managed care companies throughout the U.S.,
is pleased to announce that its CEO, Clark
A. Marcus, discussed the Company's 2011 financial results
and future business strategies in an interview with analyst
Francis Gaskins.
The entire interview is available at http://ipopremium.com/ .
Mr. Marcus explains in the interview how the Company was able to
double revenues to $71 million in
2011 while at the same time eliminating non-profitable contractual
arrangements and unnecessary overhead. "We believe we have
now grown into the margins that we want," the Company's CEO
said. Mr. Marcus detailed how the Company reinvested its
top-line revenue to streamline its business and add value for its
clients.
CompCare's CEO also explained how the Company has broadened its
focus to include the commercial market and begun expanding its
provider network to include professionals who specialize in the
commercial sector. He also detailed the Company's new at-risk
pharmacy program which was designed to add a "substantial profit
center for CompCare" while at the same time reducing its clients'
pharmaceutical spend by as much as 10 percent. The Company
expects to be able to measure the results of this program by Q4 of
this year or Q1 of next year.
"The plan we have designed, which is different than anything
else in the healthcare marketplace, simply works. We believe
the efficiencies that we have developed can reduce the cost of
health care dramatically," Mr. Marcus concluded.
About CompCare:
Established in 1969, CompCare provides behavioral health,
substance abuse and psychotropic pharmacy management services for
managed care companies throughout the United States.
Headquartered in Tampa, Florida,
CompCare focuses on personalized attention, flexibility, a
commitment to high-quality services and innovative approaches to
behavioral health that address both the specific needs of clients
and changing healthcare industry demands. For more
information, please call 813-288-4808 or visit our website at
www.compcare.com .
Forward-Looking Statements
Except for statements of historical fact, the matters
discussed in this press release, including but not limited to the
profitability of our at-risk pharmacy program and our ability to
reduce pharmaceutical drug costs, our ability to achieve
profitability and the trend of our operating results towards
profitability, are forward looking and made pursuant to the Safe
Harbor provisions of the Private Securities Litigation Reform Act
of 1995. These forward-looking statements reflect numerous
assumptions and involve a variety of risks and uncertainties, many
of which are beyond the company's control that may cause actual
results to differ materially from stated expectations. These risk
factors include, among others, changes in local, regional, and
national economic and political conditions, the effect of
governmental regulation, competitive market conditions, varying
trends in member utilization, our ability to manage healthcare
operating expenses, our ability to achieve expected results from
new and existing business, our ability to expand and manage our
provider network, the profitability, if any, of our recently
acquired or previously existing capitated contracts, the costs
incurred in seeking new contracts, the loss or termination of any
existing contract, increases or variations in cost of care,
seasonality, the Company's ability to obtain additional financing,
and additional risk factors as discussed in the reports filed by
the Company with the Securities and Exchange Commission, which are
available on its website at www.sec.gov.
Investor Contact:
Paul Knopick
E & E Communications
pknopick@eandecommunications.com
949.707.5365
SOURCE Comprehensive Care Corporation