IRVINE, Calif., Feb. 17, 2015 -- Praxsyn Corporation's (OTCQB:PXYN(link is external)) wholly owned subsidiary, Mesa Pharmacy Inc. (Mesa), entered into a Script Processing Service Contract with NHS Pharma, Inc. (NHS), on October 11, 2014 to process Mesa's preferred provider organization (PPO) claims. NHS is a leading medical billing company who specialize in servicing compounding pharmacies within private insurance networks. Since Mesa entered into the agreement with NHS, the final committed amounts for more than 380 adjudicated claims have totaled $2.9 million.
NexGen Med Solutions, LLC, a wholly owned subsidiary of Praxsyn, will continue the billing and collections of workman's compensation claims for patients in California.
This new agreement with NHS offers Mesa Pharmacy essential collection services including verifying patient and payment eligibility, communications with insurance companies for prescription authorization, and database entry for the company's billing and financial tracking. NHS also offers patient prescription refill reminder calls, patient denial calls, patient compliance calls, and real-time online portal reporting.
"We are proud to be working with such a reputable company," said Edward Kurtz, Chief Executive Officer, Praxsyn Corporation. "NHS is a transparent and trustworthy company and we believe that partnering with them will be a powerful and lucrative step for Praxsyn Corporation."
"It is always refreshing to encounter people of integrity that share the same core values," said Melinda Green, Chief Executive Officer, NHS Pharma. "We share the same passion for keeping patients first and are committed to delivering quality product and timely service. We believe we make a great team and are very pleased with our partnership."
About NHS Pharma, Inc.
NHS was established in 1987 by Melinda Green. At that time, Green was a dental hygienist who saw the need for a more efficient billing system that led to creating her own billing company. NHS quickly became known as being the first company to offer electronic billing for dental clients in California. Shortly thereafter, Green expanded NHS to cover the billing needs for other medical, psychological and pharmaceutical claims. NHS is located in Vista, California and the company consists of more than 100 employees.
About Praxsyn Corporation
Headquartered in Irvine, California, Praxsyn works to realize the vision of medical professionals to improve the lives of patients. Mesa Pharmacy, a wholly owned subsidiary, provides doctors with an alternative to oral pain medications. Mesa focuses on providing custom compounded non-narcotic, transdermal topical pain medications that are marketed to industrial health physicians and medical clinics. Mesa has developed a series of topical creams, in different strengths, that provide the pain relief doctors seek for their patients. Additional company information can be found at www.praxsyn.com.
Certain statements made in this press release are forward-looking in nature (within the meaning of the Private Securities Litigation Reform Act of 1995) including but not limited to statements regarding the past performance and anticipated results of the script processing service contract with NHS Pharma, Inc., and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated and consequently, you should not rely on these forward-looking statements as predictions of future events. Certain of these risks and uncertainties are discussed in the reports we filed with the SEC.
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