Thursday March 26, 2009

 

 

 

Patient Access Solutions Announces a Letter to Their Shareholders

 

HAUPPAUGE, N.Y., March 26, 2009 (GLOBE NEWSWIRE) -- Patient Access Solutions, Inc. (Pink Sheets:PASO - News), a leading provider of healthcare/financial processing solutions for the healthcare, nursing home, homecare and dental industries, filed Form 15B with the SEC on March 23, 2009 to become a non-reporting company.

 

Fiscal 2008 was a growing year for PASO in many ways and although our financial results for the year were less than expected, we continue to believe that PASO is poised for taking advantage of the healthcare market transitions in unique ways. We have a successful implementation of our sales and technology strategy, given our vision of how the healthcare IT industry is now ready to evolve.

 

We believe that PASO is dependent upon three major factors. First, a strong understanding of how the healthcare industry will evolve over the next few years through the use of the PASO technology. Second, the strategy that PASO will employ to gain leadership in the industry. We have signed an agreement with MDwerks, Inc. of Florida (OTC BB:MDWK.OB - News) to build a national contracted sales organization together. Additionally, we have made significant inroads with major vertical markets and suppliers in the healthcare industry. And third, our effectiveness in executing on this strategy, as measured by such factors as market share gains, and leadership in our customer segments.

 

In spite of the demanding business environment, PASO will push forward. Basically, we remain quite confident regarding business prospects for the current fiscal year and beyond. It is, however, extremely difficult to forecast future developments in view of the volatile markets and the current changes occurring in the healthcare industry. The company's recent filing of Form 15B to become a non-reporting company, has moved the company's listing from the OTCBB to the Pink Sheets. The time and costs associated with being a fully reporting company have become a burden on many small public companies. As a result a management decision was made to save in excess of $100,000 per year by becoming a non-reporting company.

 

Bruce Weitzberg, CEO and President of Patient Access Solutions Inc., stated, ``In addition, the time it saves staff and management allows for more concentration on generating sales. Today's healthcare environment has created a large number of business opportunities for PASO. We intend to lead our company very aggressively to take advantage of every opportunity.''

 

About Patient Access Solutions, Inc.

 

Patient Access Solutions, Inc. (PAS) is a Healthcare Solutions Company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare information technology environment. The Company's products are designed to allow healthcare providers an easy migration of the EMR environment. Among these products are D-PAS, which is a state-of-the-art digital pen and paper technology based on Anoto technology, used to capture handwritten information into digital forms and EMR systems and PAS Data Center, which is a terminal solution that allows healthcare providers to quickly and easily determine benefit eligibility. More information on Patient Access Solutions, Inc. and its products can be viewed at pashealth.com.

 

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future.

 

 

 

 

 

 

 

 

 

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  • Bruce Weitzberg

    President & CEO Bringing over 17 years of experience in the healthcare industry to PAS Health with a variety of healthcare processing companies...

  • Robert Linzalone

    Executive Vice-President with over 20 years experience in corporate management, including 10 years experience in the operations...