Bitech Technologies Corp (BTTC)

[shrlck9]

The last that I really care to say about the issue is that SPIN clinics are potentially impacted by this law. The entire percutaneous disc decompression (“PDD”) industry is a borderline fraudulent industry. If Florida is cracking down on auto insurance fraud, the end result is that pain clinics will be under more scrutiny in terms of the necessity of the medical procedures that they are administering. This is detailed in this article here, which I highly recommend reading.

http://www.insurancefraud.org/article.lasso?RecID=1896

However, this in no way implies that SPIN is fraudulent. I mearly suggested that some of the procedures that they are taking on the bills for were done in order for doctors to pump up the bills that are eventually sent as claims to the insurance company. Based on the severity of insurance fraud in spine and pain clinics in the state of Florida, there is no reason to believe that SPIN's partner clinics are saintly havens that are not taking part in this activity. Everyone is taking part, because (almost) everyone is getting away with it. As long as SPIN is smart in the cases that they take on, and confident that they can continue to settle at a 99.9% clip, I agree that SPIN still represents a strong investment opportunity. If insurance companies do find a way to crack down on PDD procedure settlements, that is what would have a directly negative impact on the company. I do not agree that this law is a net positive for the company, however, as a crackdown on fraud brings the questionable billing activities of spine clinics into the public eye.

Keep in mind that I am posting this not to bash, as I would prefer to see the PPS increase, but rather to offer a differing opinion on WHY the PPS dropped off in the past week. I also would rather see a board where all issues, both positive and negative, are discussed, as bringing these industry issues to the forefront will only serve to strengthen ones thesis, so long as they can be proven to be non-issues for SPIN itself.