We are delighted by HealthSmart's continued vote of confidence in our ability to lower their ancillary healthcare costs and serve their constituents with our high quality, cost effective network of providers
Irving, TX (Vocus) January 22, 2009
HealthSmart Holdings, Inc. announced that it has reached a new agreement with American CareSource Holdings, Inc. (ACS) to extend the term of their existing agreement through 2012 and creates a deeper partnership between the two companies by making ACS the exclusive provider of ancillary services.
HealthSmart Holdings, Inc. (HealthSmart) is the parent company of Emerald Health Network, Inc., HealthSmart Preferred Care II, LP and the Interplan Health Group of PPO networks. The HealthSmart companies contributed approximately 60% of ACS’s revenues during the first nine months of 2008, making them ACS's largest client. ACS has been the primary ancillary group health network solution for HealthSmart since 2005 and now influences approximately 1.7 million insured lives.
Ted Parker, Chairman and Founder of HealthSmart noted, "We are pleased to have extended our contract with American CareSource. They are a first-tier ancillary services provider and this extension is a direct reflection of the outstanding value added that they bring to the table."
As the exclusive provider of ancillary services, ACS will be better positioned to drive additional market share to their participating providers, thus enhancing the value proposition for their contracted ancillary care givers. "We are delighted by HealthSmart's continued vote of confidence in our ability to lower their ancillary healthcare costs and serve their constituents with our high quality, cost effective network of providers," stated David S. Boone, Chief Executive Officer of American CareSource.
Under the terms of the new agreement, the logo for Ancillary Care Services, a subsidiary for ACS, will appear on all HealthSmart member ID cards and ACS providers will be included in HealthSmart's directories. The two companies have also committed to the development of new products and services in order to provide comprehensive healthcare solutions in the marketplace.
About American CareSource Holdings, Inc. (Parent Company of Ancillary Healthcare Services)
American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites through its subsidiary, Ancillary Care Services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.
About HealthSmart Holdings, Inc.
HealthSmart Holdings, Inc., along with its healthcare-related subsidiaries, comprise an innovative healthcare solutions company servicing over 1.7 million members and managing over $3.2 billion in claims. The company is headquartered in Dallas, Texas, and currently maintains 11 service operations around the country. The HealthSmart companies are dedicated to delivering integrated self-funded solutions by utilizing proprietary products and services, including provider networks, care management, prescription benefit management, primary clinic management, benefit administration and stop-loss. HealthSmart’s mission is to improve member health, reduce costs and deliver “smarter” healthcare solutions. To learn more about HealthSmart Holdings, Inc. and its related companies, visit http://www.healthsmart.com.