Comprehensive Care Corporation Announces Completion of Specialty Behavioral Health Provider Network Build Out Serving Puerto Rico

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Jan 09, 2012, 05:02 ET

TAMPA, Fla. and SAN JUAN, Puerto Rico, Jan. 9, 2012 /PRNewswire/-- Comprehensive Care Corporation (CompCare) (OTC BB: CHCR), which provides behavioral health, substance abuse and at-risk psychotropic pharmacy management services for managed care companies throughout the U.S. and Puerto Rico, is pleased to announce that CompCare de Puerto Rico (CCPR) has completed its build out of a fully contracted and credentialed specialty behavioral health provider network to better serve its clients and insured Medicare and dual-eligible members across the Island of Puerto Rico.

"CCPR's provider network is the only NCQA behavioral health provider network on the Island and is believed by us to be the largest behavioral health provider network servicing the Medicare population in Puerto Rico," said Clark A. Marcus, CompCare's Chairman and CEO.

"In addition to having the necessary providers and facilities to serve Medicare and dual-eligible members, our network is specifically designed to meet the needs of future commercial insurers as well," Mr. Marcus explains.

The new specialty network is comprised of:

422 individual professional providers, including 130 psychiatrists, 249 psychologists, and 43 social workers; and
31 behavioral health facilities, which extends our business relationships with all major hospital systems on the Island, including, among others, San Juan Capestrano System and INSPIRA.

To further round out its network capabilities and maximize access to members, CompCare has also established six company-owned clinics dedicated exclusively to the members of CompCare's clients. The clinics are located in the critical areas of Ceiba, Caguas, Manati, Coamo, Aguadilla and Mayaguez. This model has been proven to result in improved health maintenance for members and decreased use of potentially inappropriate acute care services, such as ER visits and hospitalizations.

"We will continue to grow and refine our network to meet the ongoing needs and increased access to our client's members to ensure the highest quality of behavioral health care, especially for those in underserved, rural areas as well as those suffering from co-morbid or chronic illnesses. By having a direct relationship with our own credentialed provider network, CompCare now has more flexibility and greater ability to more quickly implement innovative, creative clinical strategies to better meet the clinical needs of the 'at-risk' populations. We anticipate expanding our at-risk behavioral health, pharmacy and clinic model to our U.S. population throughout 2012," concluded Mr. Marcus.

About CompCare:

Established in 1969, CompCare provides behavioral health, substance abuse and psychotropic pharmacy management services for managed care companies 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 .

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 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, CompCare's ability to obtain additional financing, increased outsourcing of behavioral health services, 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.

Investor Contacts:
Paul Knopick
E & E Communications
[email protected]
949.707.5365

SOURCE Comprehensive Care Corporation