Advanzeon Solutions, Inc.'s Wholly Owned Subsidiary Material Streamlining of its Sleep Apnea Screening and Testing Process to Accommodate Increased Patient Volume
TAMPA, FL / ACCESSWIRE / August 17, 2020 / Advanzeon Solutions, Inc. (OTC PINK:CHCR) ("Advanzeon") announced today that its wholly-owned subsidiary, Pharmacy Value Management Solutions, Inc. dba SleepMaster Solutions™ (collectively, the "Company"), will start using a revolutionary, disposable home sleep test device known as the WatchPAT™ ONE which utilizes cloud-based technology for the immediate upload of testing data. This feature will streamline the Company's receipt of test data and its ability to render faster obstructive sleep apnea ("OSA") test results - critical, in light of the increased OSA testing reasonably to be anticipated when DOT-required medical exams resume.
Clark A. Marcus, the Company's CEO, stated, "We have been Beta testing the WatchPAT™ ONE technology in connection with other testing being conducted by the Company, currently in an advanced third cohort phase. The device has performed beautifully, providing the Company with faster and completely accurate test results. With the WatchPAT™ ONE, we can measure the patient's PAT® signal, heart rate, oximetry, actigraphy, body position, snoring, and chest motion. In March of this year, the Federal Motor Carrier Safety Association (FMCSA) suspended the commercial driver's required annual/biennial medical exams. This suspension was a reaction to the COVID-19 pandemic, and the nation's need to keep its commercial drivers on the road delivering essential supplies. The suspension is currently scheduled to expire on September 30, 2020. With no further extensions expected, it is reasonable to anticipate that almost seven months of drivers will need to schedule and complete their required medical exams shortly after September 30th. It is also reasonable to anticipate that many of the smaller OSA testing facilities who had to close during the height of the COVID-19 pandemic will not be able to reopen. Thus, it is anticipated that there will be an increased wave of drivers all needing completion of their medical exams including OSA testing (when indicated), and less testing facilities to perform same. This "wave of drivers" would be in addition to our new patient accounts acquired during the past four-month period. With our implementation of this new technology, we expect to not only be more efficient in our testing process, but to greatly enable our clinic partners to process the OSA portion of their drivers' DOT medical exams faster and more efficiently. While there is an additional cost to the Company for the WatchPAT™ ONE process, we have elected to not pass this cost on to the clinic, the driver or the driver's employer. Bottom line, what is most important to us is helping our healthcare partners perform optimally, keeping our drivers safe and on the roads and the trucking industry intact."
About Advanzeon Solutions, Inc.
Advanzeon Solutions, Inc. (OTC PINK:CHCR) through its wholly-owned subsidiary, Pharmacy Value Management Solutions, Inc. dba SleepMaster Solutions™ owns and operates the nation's most complete sleep apnea program. Headquartered in Tampa, Florida, the Company is an established leader in the healthcare industry focusing on personalized attention, flexibility, a commitment to high-quality services and innovative approaches that address both the specific needs of clients and changing healthcare industry demands. For more information, visit our websites at www.advanzeon.com and www.sleepmastersolutions.com.
Safe Harbor Statement
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
Advanzeon Public Relations Contact:
Brianna Bujnowski
Crank Communications
407-830-7312
brianna@crankcommunications.com
SOURCE: Advanzeon Solutions, Inc.
View source version on accesswire.com:
https://www.accesswire.com/602040/Advanzeon-Solutions-Incs-Wholly-Owned-Subsidiary-Material-Streamlining-of-its-Sleep-Apnea-Screening-and-Testing-Process-to-Accommodate-Increased-Patient-Volume
