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SOURCE Millennium HealthCare Inc.
GARDEN CITY, N.Y., June 23, 2014 /PRNewswire/ -- Millennium HealthCare Inc. (OTCBB: MHCC) through its wholly owned subsidiary, Millennium Medical Devices, LLC is assisting primary care physicians to offer their patients breakthrough diagnostics that are reimbursable by Medicare and private insurance companies.
At a time when physician practices are challenged by increasing patient needs and falling practice revenues, Millennium Healthcare has positioned itself to provide innovative solutions by offering an advanced early detection diagnostic assessment test for cardiovascular disease, currently the number one cause of death in the United States. This test not only provides physicians with a new and innovative way to better provide preventative and early detection health management and care to their patients, but also provides opportunities for additional revenue streams. Millennium Healthcare has contracted with numerous US based healthcare organizations representing over 1,000 locations that will be utilizing this cardiovascular assessment test. Millennium Medical Devices, a Millennium Healthcare wholly owned subsidiary, has secured the exclusive marketing rights to the VasoScan cardiovascular assessment test.
With the passing of the Affordable Care Act (Obamacare) in January 2014, costs associated with certain preventative medical testing will no longer be applied to the deductible portion of a patient's medical insurance. This results in Medicare and private insurance and reimbursement agents being responsible for 100% of the cost of these tests. The Company believes that this single change may create a tremendous surge in the demand for and utilization of early detection diagnostic testing and may create and bolster the need to make these tests available to physician practices and ultimately, millions of additional patients across the nation.
VasoScan is a breakthrough FDA cleared diagnostic test for the early detection of cardiovascular disease. The procedure is non-invasive and uses a small LED clip and sensor placed on the finger. The test requires three minutes and is easily performed in the 11-minute window when a technician takes patients' vital signs while the patient waits for the doctor. "The test is designed to help doctors identify high risk cardiovascular issues years in advance," says Chris Amadola, President of Millennium Healthcare. If a positive reading occurs while using VasoScan for early detection of cardiovascular disease, a follow up visit would be scheduled for an advanced imaging procedure to pinpoint the problem. The doctor and or specialist could then order the best and most cost-effective treatment available to the patient. By detecting a cardiovascular problem early, VasoScan has the potential to save millions of lives as well as billions of dollars. The Company believes VasoScan could potentially become a "Standard of Care" with general practitioners in conjunction with blood pressure and cholesterol testing in the assessment of cardiovascular disease.
The VasoScan system immediately delivers a report showing:
Heart Rate Variability
About Millennium HealthCare Inc.
Millennium HealthCare Inc. through its wholly owned operating subsidiaries provides primary care physician practices, physician groups and healthcare facilities of all sizes with cutting edge medical devices focused primarily on preventive care through early detection. The Company also provides advanced billing and coding services and practice development and management services.
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This press release contains certain statements that may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release.
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