TAMPA, Fla., June 3, 2015 /PRNewswire/ -- Advanzeon
Solutions, Inc.'s (OTC-BB: CHCR), ("Advanzeon") wholly-owned
subsidiary, Pharmacy Value Management Solutions, Inc. ("PVMS"),
announced today that it has entered into an agreement with the
Trustees of a large Teamsters Health and Welfare Fund in
Southern California (the
"Teamsters Trust Fund"). The Agreement provides, among other
things, for PVMS to provide sleep apnea testing and treatment
through its SleepMaster Solutions™ Program to the Teamsters Trust
Fund members operating commercial vehicles in California. The Program becomes effective
July 1, 2015 and has an initial
three-year term.
The Federal Motor Carrier Safety Administration (FMCSA) has
identified sleep apnea as one of the leading causes of motor
vehicle accidents involving commercial motor vehicles. These
accidents often lead to injuries and/or deaths, as well as millions
of dollars in fines, legal fees, restitution and lost revenue to
companies responsible for the drivers operating those commercial
vehicles. Accordingly, the FMCSA has mandated that, effective
May 21, 2014, as a condition of each driver's maintenance of
his or her commercial driver's license (CDL), he or she must be
screened by a Department of Transportation (DOT) approved Certified
Medical Examiner for sleep apnea. If sleep apnea is
suspected, further testing is required; and if a sleep apnea
condition is determined to exist, the driver must undergo treatment
with reports being periodically submitted to the DOT. It is
estimated that 46% of all commercial drivers suffer from a sleep
disorder. The Teamsters Trust Fund has selected PVMS as its
vendor to provide its membership with PVMS' SleepMaster Solutions™
Program.
PVMS' SleepMaster Solutions™ Program, developed over the
past approximate two years, works in tandem with the DOT-approved
Certified Medical Examiners, providing the mandated treatment,
monitoring and requisite reporting designed to ensure that the
driver safely operates his or her motor vehicle without concern for
inattention or sleepiness that can be caused by sleep apnea.
The SleepMaster Solutions™ Program is a non-clinic based,
cost-effective method of providing treatment for sleep apnea.
Treatment of sleep apnea has been shown to not only reduce
the costs of healthcare, in general, but, more importantly, it has
shown positive results in reducing the number of heart
attacks and strokes; reducing high blood pressure; and improving
diabetic conditions and other costly disabilities common to
truckers.
Jerry Smith, Chief Operating
Officer of PVMS, stated, "We are extremely pleased at being
selected as the sleep apnea benefits vendor to the Teamsters Trust
Fund and providing its members with this important benefit.
Sleep apnea is a seriously under-diagnosed condition in our
society, not only affecting the commercial driving industry, but
the general public as well. We are confident that our Program
will bring an immense benefit to the Teamsters participating in the
Teamsters Trust Fund and will be a model treatment program for all
Teamsters nationally. We also have had advanced discussions
with other Teamsters and non-teamsters organizations about our
SleepMaster Solutions™ Program, and the response has been
excellent. We are confident that we have a very effective and
cost-efficient Program that can be easily rolled out
nationally."
About Advanzeon Solutions, Inc.
Established in 1969,
Advanzeon provides behavioral health, substance abuse and pharmacy
management services, as well as sleep apnea programs, for
employers, Taft-Hartley health and welfare Funds, and managed care
companies throughout the United States. Headquartered in
Tampa, Florida, the Company
focuses on personalized attention, flexibility, a commitment to
high-quality services and innovative approaches that address both
the specific needs of clients and changing healthcare industry
demands. For more information, please call 813-367-9080 or
visit our website at www.advanzeon.com.
Forward-Looking Statements
Except for statements
of historical fact, the matters discussed in this press release 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 the current beliefs and
expectations of the Company's management, reflect numerous
assumptions, and are subject to significant risks and
uncertainties, many of which are beyond the Company's
control. If any of these underlying beliefs, expectations or
assumptions prove inaccurate or risks or uncertainties materialize,
actual results may differ materially from those set forth in the
forward-looking statements.
These risk factors include, among others, the ability of the
Company to maximize its market share with new pharmacy initiatives,
the ability of the Company's new pharmacy cost-savings program to
guarantee a 10% or more reduction in pharmacy costs, our ability to
achieve expected results from new business and to revolutionize the
pharmacy sector of the healthcare industry, the ability to obtain a
performance bond on satisfactory terms, the ability of the
Company's pharmacy program to promote greater medication adherence
without restricting access to needed medications, technological
advances, challenges in development of new products and services,
new products and services developed by competitors, the Company's
ability to provide superior patient care while increasing its
business and margins as a result of implementing its pharmacy
cost-savings program, general industry conditions and competition,
general economic factors, global trends toward health care cost
containment, the effect of governmental regulation, including
pharmaceutical industry regulation, insurance regulation and health
care legislation, varying trends in member pharmacy utilization,
increases or variations in cost of care, seasonality, our ability
to manage healthcare operating expenses, the profitability (if any)
from capitated pharmacy contracts or other products, and the
Company's ability to obtain additional financing.
Advanzeon undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise. Additional risk factors
that could cause results to differ materially from those described
in the forward-looking statements can be found in the Company's
most recent Annual Report on Form 10-K and the Company's other
filings with the Securities and Exchange Commission (SEC), which
are available at the SEC's website at
www.sec.gov.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/advanzeon-solutions-incs-wholly-owned-subsidiary-pharmacy-value-management-solutions-inc-signs-agreement-with-southern-california-teamsters-300093395.html
SOURCE Advanzeon Solutions, Inc.