TAMPA, Fla., Sept. 21, 2011 /PRNewswire/ -- Comprehensive Care Corporation (OTC BB: CHCR) , which provides behavioral health, substance abuse and employee assistance programs for managed care companies, government agencies, and employer groups throughout the U.S., today announced that a marketWATCH study produced by thebraffgroup.com emphasizes that behavioral health and social services (BH/SS) providers are "innately hedged" against the risk that their reimbursements will be cut.
"Compared to many other health care service segments...BH/SS is less exposed to the kind of rapid margin compression that can occur (and is already happening) in other sectors such as pharmacy services and Medicare home health," the report states.
"Some of the best BH/SS providers have established the kind of competitive advantages that not only protect margins, but also create barriers to entry that portent market protection and long term growth," thebraffgroup.com report stresses.
The Braff Group is a leading merger and acquisition advisory firm specializing in health care services. "Acquisition demand for behavioral health and social service providers will come from many directions, and equally important, will be directed to providers of all sizes," the report concludes.
Clark A. Marcus, CompCare's Chairman and CEO, said "We are pleased to see this report and agree with the conclusion that ours is a sector that has been neglected but which is coming to the forefront in the healthcare industry. We look forward to being one of the most robust companies in our sector."
"CompCare has taken a number of important steps to be in the forefront of what we are confident will be a behavioral health explosion, spearheaded by a focus on wellness. We have developed or acquired first tier wellness programs, aimed at reducing emergency room admissions and lengths of hospital stays. For instance, back pain is a major problem in the U.S. and too often can lead to depression. We will market a product to decrease back pain, therefore decreasing instances of depression. It is these types of programs that CompCare can now integrate into its product portfolio for future successes," Mr. Marcus concluded.
Established in 1969, CompCare provides behavioral health, substance abuse and employee assistance programs for governmental agencies, managed care companies and employer groups 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.
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 numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond CompCare's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, the ability of CompCare and its staff to execute its business plan, the ability of CompCare to offer and sell any of its products at a profit, 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 business, the profitability, if any, of our capitated contracts or other products, increases or variations in cost of care, seasonality, and CompCare'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. Any forward-looking statement in this release speaks only as of the date on which it is made. CompCare assumes no obligation to update or revise any forward-looking statements.
E & E Communications
SOURCE Comprehensive Care Corporation