Praxsyn Corp (PXYN)

[OhManIDied]

CA WC-Study Supports Recent PXYN Moves
http://www.comppharma.com/CaliforniaDispensingStudy.pdf

Key points taken from study:
- Median accounts receivable collection period is 22 days
- 93% of WC prescriptions are "in-network"; 2.8% of which are denied/reversed
- Of the pharmacies using a third-party billing service, the average per-claim cost of the service was significantly higher than costs incurred by pharmacies who collect WC claims in-house. (This was using a relatively low cost for factoring due to the inclusion of chain pharmacies in the study among independent pharmacies, who have higher factoring costs and stand to gain more by collecting in-house; 100% of the independent pharmacies in the study collected in-house for practical reasons)

Praxsyn stands to gain a lot by bringing collections in-house. Kelly's expertise in setting up electronic filing for the in-house collections system will further expedite collections and reduce the costs.

Don't be fooled by baseless claims that ARs can't be collected "for years" or "in this lifetime", that is ridiculous. If they had data to prove it they would post it.

PXYN