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DENVER, June 01, 2021 (GLOBE NEWSWIRE) — Guarantee Holdings Corp. (the “Firm” or “Guarantee”) (TSXV: IOM; OTCQB: ARHH), a supplier of intraoperative neuromonitoring companies (“IONM”), is happy to announce that it has signed an settlement (the “Settlement”) with a business well being insurer within the state of Louisiana (the “Insurer”) with whom it has had a protracted dispute. The Settlement is efficient retroactively as of Might 1, 2021, and permits the Firm to offer its skilled telehealth neurology companies for IONM as an in-network healthcare supplier of the Insurer in Louisiana.
The Settlement will assist streamline the Firm’s billing and collections course of in Louisiana by together with contracted charges, fee of claims inside 45 days, medical necessity circumstances and dispute decision steps. The Settlement features a proper for each events to terminate the Settlement with 90 days’ written discover.
As well as, the Insurer has dedicated to expedite all open claims since January 1, 2020, on the contracted charges.
”Reaching an settlement with this Insurer is a vital step for sustaining viability within the Louisiana market, which has been our most difficult state-level setting over a multi-year interval,” stated John A. Farlinger, Guarantee’s government chairman and CEO. “By way of this course of, we’ve got realized that the Insurer made funds to hospitals and medical services by which we function for technologist companies Guarantee supplied. We’re within the technique of negotiating funds with these hospital companions.”
Farlinger added, “This Settlement helps to cut back Guarantee’s threat, decrease complexity and speed up fee on instances related to the Insurer. Executing this Settlement is one other essential step ahead as Guarantee additional develops an in-network income stream, a key differentiator that few of our IONM friends have the dimensions or expertise to realize.”
Farlinger concluded, “We’re seeing encouraging engagement from different payors on negotiating extra in-network agreements.”
The Settlement concludes a protracted negotiation with the Insurer over a dispute by which instances had been carried out, companies had been rendered by Guarantee and related claims had been submitted, however reimbursement related to the companies carried out by Guarantee weren’t subsequently made by the payor.
About Guarantee Holdings
Guarantee Holdings Corp. is a Colorado-based firm that works with neurosurgeons and orthopedic backbone surgeons to offer a turnkey suite of companies that assist intraoperative neuromonitoring actions throughout invasive surgical procedures. Guarantee employs its personal workers of technologists and makes use of its personal state-of-the-art monitoring tools, handles 100% of intraoperative neuromonitoring scheduling and setup, and payments for all technical companies supplied. Guarantee Neuromonitoring is acknowledged as offering the very best degree of affected person care within the trade and has earned the Joint Fee’s Gold Seal of Approval®. For extra info, go to the Firm’s web site at www.assureneuromonitoring.com.
This information launch might comprise “forward-looking statements” inside the which means of relevant securities legal guidelines, together with however not restricted to: feedback with respect to methods; expectations; deliberate operations; future actions of the Firm; the Firm’s progress potential and technique and the anticipated results of the Settlement on the Firm’s enterprise and operations. These statements are based mostly upon the present expectations and beliefs of administration and are topic to sure dangers and uncertainties that might trigger precise outcomes to vary materially from these described within the forward-looking statements. These dangers and uncertainties embody, however should not restricted to: the Settlement might not streamline the Firm’s billing and collections course of in Louisiana; the Firm might not work with the Insurer in markets outdoors Louisiana; the Firm’s technique to develop an in-network income stream; the Firm might not negotiate extra in-network agreements; the Firm might not efficiently negotiate funds with hospital companions; the Settlement might not scale back the Firm’s threat, decrease complexity and speed up fee on instances related to the Insurer; the uncertainty surrounding the unfold of COVID-19 and the affect it is going to have on the Firm’s operations and financial exercise typically; and the dangers and uncertainties mentioned in our most up-to-date annual and quarterly studies filed with the Canadian securities regulators and accessible on the Firm’s profile on SEDAR at www.sedar.com, which dangers and uncertainties are integrated herein by reference. Readers are cautioned to not place undue reliance on forward-looking statements. Besides as required by legislation, Guarantee doesn’t intend, and undertakes no obligation, to replace any forward-looking statements to mirror, particularly, new info or future occasions.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
Scott Kozak, Investor and Media Relations
Guarantee Holdings Corp.