Can anyone elaborate on this? Sorry in advance if
Post# of 7769
Posted On: 03/11/2015 2:34:46 PM
Can anyone elaborate on this? Sorry in advance if this has already been discussed as I am unavailable to read the board everyday. Maybe this is why a few skittish investors have left.
******************** Separately, Main Avenue Pharmacy received notice from one of its payor insurance companies that its agreement was ending effective March 13, 2015.
Mr. Schneiderman added, "We are already filing for arbitration to adjudicate the ending of our insurance contract as we firmly believe this decision is unjust. While the matter is adjudicated, however, the insurance company has elected to not reimburse its patients who purchase certain of our products from Main Avenue Pharmacy, which will have an impact on their revenues. Fortunately, while any temporary or permanent loss of these reimbursements to our patients will impact our revenues, we still believe our total revenues in 2015 will grow due to the efforts underway to diversify into adjacent and complementary healthcare operations, such as PIMD, diabetic medical supplies, additional pharmacies, and, prospectively, a Physician dispensing program. In addition, we believe revenues from Main Avenue Pharmacy and other lines of business should enable us to generate a profit in 2015."
******************** Separately, Main Avenue Pharmacy received notice from one of its payor insurance companies that its agreement was ending effective March 13, 2015.
Mr. Schneiderman added, "We are already filing for arbitration to adjudicate the ending of our insurance contract as we firmly believe this decision is unjust. While the matter is adjudicated, however, the insurance company has elected to not reimburse its patients who purchase certain of our products from Main Avenue Pharmacy, which will have an impact on their revenues. Fortunately, while any temporary or permanent loss of these reimbursements to our patients will impact our revenues, we still believe our total revenues in 2015 will grow due to the efforts underway to diversify into adjacent and complementary healthcare operations, such as PIMD, diabetic medical supplies, additional pharmacies, and, prospectively, a Physician dispensing program. In addition, we believe revenues from Main Avenue Pharmacy and other lines of business should enable us to generate a profit in 2015."
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