GLENDALE, Calif. and RIDGEFIELD, Conn., Dec. 11, 2013 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB: AMEH), an integrated physician-driven healthcare delivery company, and Boehringer Ingelheim Pharmaceuticals, Inc., a research-based, global pharmaceutical company, today announced a partnership dedicated to managing the care of ApolloMed ACO patients with chronic obstructive pulmonary disease (COPD). Boehringer Ingelheim has a vast array of provider and patient resources from their "Strategies For Chronic Care" and "InStep" programs, as well as the provision of provider education around the burden of illness and COPD disease management.
More than 12.1 million people 18 years of age and older in the United States have been diagnosed with COPD. However, pulmonary function tests show that more than 26 million people may have the disease. According to the National Institutes of Health, chronic lower respiratory diseases, which include COPD, emphysema and asthma, are the third leading cause of death in the United States. The total economic cost of this disease was $49.9 billion in 2010. This includes $29.5 billion in direct health care expenditures and $20.4 billion in indirect costs.
More than 500 physicians have signed up with ApolloMed ACO, which was approved by CMS in July, 2012 to participate in the Medicare Shared Savings Program. ApolloMed ACO has initiated a high-risk program that is targeting chronic conditions, including COPD, and is excited to partner with Boehringer Ingelheim, one of the world's leading pharmaceutical companies. Boehringer Ingelheim has a tradition of core competency in COPD and has developed unique resources for identifying and managing COPD patients in the outpatient and inpatient settings.
"Boehringer is the ideal partner to support our COPD chronic care management program and we are delighted to have entered into this collaboration with them," stated Warren Hosseinion, M.D., chief executive officer of Apollo Medical Holdings, Inc. "This collaboration furthers our commitment to improve the care of our ACO patients and to reduce overall health care expenditures."
Burcu Erylimaz, vice president of respiratory marketing for Boehringer Ingelheim Pharmaceuticals, Inc., stated that "The changing healthcare landscape dictates that all healthcare related organizations change or evolve while still remaining focused on exceptional care for the patient. As Boehringer Ingelheim continues to deliver value through innovation, we are mindful that we can only do this with the right collaborative partners. We are excited to work with such a partner in ApolloMed. It is our hope that this new relationship grows into a long and strong partnership as we both strive to help patients with COPD and other chronic conditions."
In 2010, there were 822,500 hospital discharges with a diagnosis of COPD among adults age 40 years and older. Also, an additional 3.8 million hospital stays included COPD as a secondary or complicating condition during an admission for some other medical problem. Thus, nearly one out of every five patients 40 years or older in United States hospitals has a diagnosis of COPD. Hospitalization rates for acute exacerbation of COPD were highest among patients 75-84 years of age. COPD is also a leading cause of readmissions to the hospital. The 30-day readmission rate among patients hospitalized for COPD is 22.6%.
Leading Respiratory Forward
Through research, treatments and patient-centric support services, the Boehringer Ingelheim (BI) lung health portfolio is designed to help address the challenges people living with a lung disease face every day. Leveraging the company's cutting edge science and leadership in chronic obstructive pulmonary disease (COPD), BI is researching new treatment approaches where needs persist. It is the company's goal to make a difference in the lives of patients with COPD, asthma, lung cancer, idiopathic pulmonary fibrosis and other respiratory diseases.
About Boehringer Ingelheim Pharmaceuticals, Inc.
Boehringer Ingelheim Pharmaceuticals, Inc., based in Ridgefield, CT, is the largest U.S. subsidiary of Boehringer Ingelheim Corporation (Ridgefield, CT) and a member of the Boehringer Ingelheim group of companies.
The Boehringer Ingelheim group is one of the world's 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, it operates globally with 140 affiliates and more than 46,000 employees. Since it was founded in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel medications of high therapeutic value for human and veterinary medicine.
As a central element of its culture, Boehringer Ingelheim has a demonstrated commitment to corporate social responsibility. Involvement in social projects, caring for employees and their families, and providing equal opportunities for all employees form the foundation of the global operations. Mutual cooperation and respect, as well as environmental protection and sustainability are intrinsic factors in all of Boehringer Ingelheim's endeavors.
In 2012, Boehringer Ingelheim achieved net sales of about $19.1 billion (14.7 billion euro). R&D expenditure in the business area Prescription Medicines corresponds to 22.5% of its net sales.
For more information please visit www.us.boehringer-ingelheim.com
About ApolloMed ACO
A division of Apollo Medical Holdings, Inc., ApolloMed ACO was one of only eight ACOs selected to participate in the Medicare Shared Savings Program (MSSP) by CMS in the State of California in 2012. To date, over 500 physicians in Greater Los Angeles, Orange County and Central California have joined ApolloMed ACO to enhance patient engagement and lower healthcare costs through the coordination of care and integration of clinical services across all aspects of a patient's healthcare needs – whether in the primary care office, seeing a specialist, admitted to the hospital or at home. Through a shared commitment to reducing Medicare expenditures and delivering superior quality care to its patients, ApolloMed ACO and its physicians enjoy a culture that supports, incentivizes and rewards continuous quality improvement across the care continuum.
About Apollo Medical Holdings, Inc. (ApolloMed)
Headquartered in Glendale, California and dedicated to putting the 'Patient First,' ApolloMed is a leading provider of physician-driven integrated healthcare management services, fueled by its commitment to provide exceptional multi-disciplinary care in the communities it serves in Southern and Central California. ApolloMed is addressing the healthcare needs of the nation's largest population center by leveraging its integrated healthcare delivery platform comprised of three affiliated and complementary physician groups: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization) and Maverick Medical Group (Independent Physician Association). This platform combines hospitalist medicine, critical care medicine, case management and transition management that enable healthcare organizations to engage in performance payments for utilization efficiency, quality of care objectives and shared accountability arrangements. ApolloMed strives to improve medical outcomes with high quality, cost efficient care. For more information, please visit www.apollomed.net.
Forward Looking Statements
This press release may contain forward-looking statements, including information about management's view of future expectations, plans and prospects for Apollo Medical Holdings, Inc. ("the Company"). In particular, when used in the preceding discussion, the words "predicts," "believes," "expects," "intends," "seeks," "estimates," "plans," "anticipates," and similar conditional expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could" are intended to identify forward-looking statements. In addition, our representatives may from time to time make oral forward-looking statements. Any such statements, other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based on the current expectations and certain assumptions of the Company's management. Such statements are, therefore, subject to a variety of known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company, its subsidiaries and concepts to be materially different than those that may be expressed or implied in such statements or anticipated on the basis of historical trends. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company's actual results, performance or achievements may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included herein are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update or revise these forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended January 31, 2013 and in any of the Company's other subsequent Securities and Exchange Commission filings.
FOR ADDITIONAL INFORMATION REGARDING APOLLOMED:
Kathy Addison, Chief Operating Officer
407-585-1080 or via email at [email protected]
FOR ADDITIONAL INFORMATION REGARDING BOEHRINGER INGELHEIM PHARMACEUTICALS, INC.
203-791-6250 or via email at [email protected]
SOURCE Apollo Medical Holdings, Inc.