PORTLAND, Ore., April 28, 2015 /PRNewswire/ -- Semler Scientific, Inc. (Nasdaq: SMLR), an emerging medical risk assessment company that develops, manufactures and markets patented products that assist healthcare providers in monitoring patients and evaluating chronic diseases, today announced that it has received an order from another one of the largest 15 insurance plans in the country who offer Medicare Advantage programs. This brings the total count to four of the top 15 insurance plans who are now customers of Semler.
It is estimated that the top 15 insurance plans have control of about 70% market share of patients in Medicare Advantage programs. These plans are interested in understanding and documenting the disease risk of their patients in order to enhance preventative care options and to increase their revenue from risk adjustment factors associated with Medicare Advantage programs. In each case Semler intends to provide a high quality suite of products and services to these clients and hopes to see initial orders grow in size over time.
"We are pleased to add another major insurance plan to our growing list of customers," said Doug Murphy-Chutorian, M.D., chief executive officer of Semler. "In our limited operating experience to date, we have seen that these insurance plans grow familiar with the use of the Semler products after the initial order and then, over months, might become interested in expanding to more sites in their network. Our business plan is to grow our customer base and offer more risk assessment products and services to meet the needs of these organizations, once we have established the value and quality of our product offerings."
"Although we do not intend to announce the addition of each new customer and do not identify our clients by name, it is a good sign of acceptance to add another major player in the field of health insurance to our user base," continued Dr. Murphy-Chutorian.
About Semler Scientific, Inc.:
Semler Scientific, Inc. is an emerging medical risk-assessment company. Its mission is to develop, manufacture and market patented products that assist healthcare providers in monitoring patients and evaluating chronic diseases. Semler's first patented and U.S. Food and Drug Administration cleared product, is FloChec®. FloChec® is used in the office setting to allow providers to measure arterial blood flow in the extremities and is a useful tool for internists and primary care physicians for whom it was previously impractical to conduct blood flow measurements. Additional information about Semler can be found at www.semlerscientific.com.
This press release contains "forward-looking" statements. Such statements can be identified by, among other things, the use of forward-looking language such as the words "may," "will," "expect," "anticipate," "estimate," "project," "would," "could" or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions. The forward-looking statements in this release include statements regarding Semler's ability to provide a high quality suite of products and services to its clients, growth in initial order size over time, expansion to additional sites in a customer's network, and Semler's ability to offer more risk assessment products and services to meet the needs of its customers, among others. Such forward-looking statements are subject to a number of risks and uncertainties that could cause Semler Scientific's actual results to differ materially from those discussed here, such as whether or not insurance plans and other customers will continue to lease FloChec®, along with those detailed in Semler Scientific's SEC filings, and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date this release and Semler Scientific assumes no obligation to update or revise these statements unless otherwise required by law.
SOURCE Semler Scientific, Inc.