Pediatric Prosthetics Inc. Announces Recent Downward Trends in Health Insurance Reimbursements for Pediatric Prostheses
2008年4月10日 - 8:57AM
ビジネスワイヤ(英語)
The Vice President of Pediatric Prosthetics Inc. (OTCBB:PDPR),
Kenneth Bean stated today: "We founded Pediatric Prosthetics Inc.
to better serve the children with a limb-loss across the country
and build a strong national company on behalf of our shareholders.
We have worked diligently for four years building the company into
a viable national prosthetics provider with over 30 allied fitting
facilities, Medicare and Medicaid approval, Full SEC compliance,
and just recently, completed the national ABC Certification
process. "As has become clear in just the last few days based upon
reimbursement claims being processed since January 2008, the major
health insurance companies have begun imposing unprecedented
procedure caps on prosthetic services to children. These
arbitrarily imposed caps or 'allowables' have impacted our
operating margins, and in fact have put our entire business model
under duress. On some claims submitted, our reimbursements have
been cut over 40% below what we have historically seen. "We have
also been involved in seeking additional equity investment this
Spring, but to date have not been successful in attracting funds.
"If the current trend in allowables continues and we are unable to
raise additional capital on favorable terms, if at all, we could be
forced to change our business plan and/or may be forced to cease
our business operations." Please see the articles now posted on the
most recent "Amputee Coalition of America" website home-page,
(http://www.amputee-coalition.org/), for a more in depth
understanding of the environment here described. This press release
may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. In particular
when used in the preceding discussion, the words "believes",
"expects", "intends", "will", "anticipated" or "may" and similar
conditional expressions are intended to identify forward-looking
statements within the meaning of the Act and are subject to the
safe harbor created by the Act. Except for historical information,
all of the statements expectations and assumptions contained in the
foregoing are forward-looking statements that involve a number of
risks and uncertainties including, without limitation, risks
associated with operations, availability of capital on a reasonable
term, the effects of government regulations and operations risks,
and the risk factors set forth from time to time in the Company's
SEC reports, included but not limited to its annual report on Form
10-KSB; its quarterly reports on Forms 10-QSB, and any reports on
Form 8-K. It is possible that the assumptions made by management
are not necessarily the most likely and may not materialize.
Pediatric Prosthetics Inc. (PDPR.) takes no obligation to update or
correct forward-looking statements, and also takes no obligation to
update or correct information prepared by third parties that is not
paid for by the Company. The forward-looking statements contained
herein reflect the Company's judgment as of the date of this
release, and the Company cautions readers not to place undue
reliance on these statements.
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