Leading Practice Management Publication Affirms MediSys Model, Providing Revenue Solutions to Internal and Family Medicine Physicians
MediSys Corporation (Pink Sheets: MDYS) today announced that an article titled “The Incredibly Shrinking Payment” that appeared in the January 2007 issue of Physicians Practice magazine, further validates the need for physicians to increase revenues.
The article reported that the average physician reimbursement from commercial insurance payers and Medicare collapsed in 2006, with payment levels averaging a staggering 36 percent below that of 2004. This reduction in insurance reimbursement is the biggest factor in the shrinking income of America’s internal and family medicine physicians.
The article warned: “… it’s even worse for specific parts of the country. In the Northeast, (insurance) payments sank — hold your breath — (a) 27 percent (drop) in just one year, almost as bad as the 20 percent cut in the Pacific region. When Physicians Practice began publishing fee schedule data in 2002, commercial reimbursement loosely tracked changes in Medicare rates. Now it’s off the map. In 2005, we could hardly believe how dramatic the cutbacks were. But payers were generous in 2005 when compared with their behavior in 2006. This is the worst-looking data we’ve ever seen.
“… it’s the cumulative rate drops that are sending practices over the edge.”
According to the article, Medicare is now a better payer than commercial payers on a national level.
The article did however offer some solutions to shrinking practice revenues: “If you find your payers’ fees to be inadequate, ask yourself if you can you find other ways to bring cash in the door. Physicians need to get smarter about negotiating and look for other revenue sources.”
MediSys solves that need with its MaxLife Center for Men(TM). It helps America’s physicians get their income back up to once considered standard levels while providing life saving technology. This of course in turn enables consumers and patients to once again attain the kind of high quality care they enjoyed in years past.
MediSys CEO Joshua Konigsberg stated: “This is yet another example of edification of our model, again coming from a highly credible source — the leading practice management journal in the country, circulated to more than 300,000 physicians nationwide. This is still another indication that the market continues to move towards MediSys.”
About Physicians Practice: Physicians Practice is published by Med-IQ, a leading, innovative healthcare media and education company and is America’s leading practice management journal, circulated to more than 300,000 physicians nationwide through partnerships with more than 50 hospitals and medical centers, including academic, community, faith-based, and specialty hospitals.
About MediSys: MediSys’ proprietary disease identification and management system for men (The MaxLife Center for Men(TM)) enables physicians to make the best decisions in terms of diagnosis and treatment for a large number of serious diseases prevalent in men. Working with nationally acclaimed medical doctors, the management team discovered that many serious and sometimes life-threatening diseases prevalent in men often share common underlying symptoms. The MaxLife Center for Men is marketed to internal medicine, family medicine, and cardiology markets and enables doctors to provide superior medical & treatment plans while significantly improving their practice revenues.
Forward-Looking Statements: This announcement may contain certain forward- looking statements per the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such statements reflect management’s current views and are based on assumptions. Actual results could differ materially from the assumptions currently anticipated. Forward-looking statements speak only as of the date the statement was made. The Company assumes no obligation to update forward- looking information to reflect actual results, changes in assumptions, or changes in other factors affecting forward-looking information. If the Company does update any forward-looking statement, no inference should be drawn that the Company will make additional updates with respect to that statement or any other forward-looking statements.