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Healthcare Business Services Group, Inc. (OTCBB: HBSV) |
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Dear Reader,
Today we are pleased to bring you breaking news from a company with a business plan focused on two separate growth areas of the health care industry. If you're doing the math on the swelling number of baby boomers hitting their primary health care need years you may understand why we are pleased to bring you continued coverage of this company.
As you may recall from our FULL PROFILE of Healthcare Business Services Group, Inc. (OTCBB: HBSV) published a few weeks ago, this is a company active in the burgeoning medical billing space while aggressively pursuing a new revenue stream based on increasingly popular outpatient surgical center operations.
Today's news seems to indicate that the company is moving forward full-thrust in both these business models.
Take a look.
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**Breaking** News From Healthcare Business Services Group |
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Press Release
Source: Healthcare Business Services Groups, Inc.
Wednesday July 20, 10:17 am ET
Healthcare Business Services Groups, Inc. Sets Up Marketing Dept.
UPLAND, Calif., July 20, 2005 (PRIMEZONE) -- Healthcare Business Services Groups, Inc. (OTC BB:HBSV.OB - News) today announced that it just set up a marketing department in Upland, CA. All business until now was just by word of mouth.
Salespeople hired now can follow up on leads consistently. HBSGI plans to attend five to six medical conferences this year. HBSGI already signed up with more than three conferences by end of June 30, 2005.
"Attending medical conferences is very important for HBSGI," said Chandana Basu, CEO of HBSGI. "We meet our prospects in this kind of conference. Currently we are in negotiations with several major medical associations and groups. Our proprietary software is now ready to handle many billing accounts and will allow us to add new contracts with minimal addition to staff or internal expenditures. We are fortunate to be in an industry which is easy-to-scale and expand without large capital expenditures, and is in growing demand. Having several sales staff, we can now efficiently attend leads."
To view the entire news release with all dislaimers and disclosures - the link is here
Press Release
Source: Healthcare Business Services Groups, Inc.
Monday July 18, 11:42 am ET
Healthcare Business Services Groups, Inc. Announces 3-Year Medical Billing
Contracts With California Physician
Contract should yield in excess of $360,000 over the next 36-months
UPLAND, Calif., July 18, 2005 (PRIMEZONE) -- Healthcare Business Services Groups, Inc. (OTC BB:HBSV.OB - News) today announced that it has secured one (1) new pain medical billing contract with California Physician. The 36-month contract should yield $360,000 in revenue for the company over the life of the contract.
"Every medical billing contract we obtain is a significant milestone for the company," noted Chandana Basu, CEO of HBSGI. "The incremental revenue over extended periods of time provides consistent cash flow which is dependable and easy to forecast out over multi-year periods. These new contracts also represent high-margin opportunities as our existing overhead allows us to add new contracts with minimal addition to staff or internal expenditures. We are fortunate to be in an industry which is easy-to-scale and expand without large capital expenditures and is in growing demand."
All new contracts take approximately 90 days to have noticeable revenue. This contract will add to HBSGI's bottom line in the fourth quarter 2005.
To view the entire news release with all dislaimers and disclosures - the link is here
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About Healthcare Business Services Group |
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Healthcare Business Services Groups, Inc. (HBSG) is an emerging company involved in three primary lines of business:
- Medical Billing Services to healthcare providers in the United States
- Medical Billing Software
- Surgical Center Operations
The traditional core competency of HBSG is medical billing services and it has a successful, fourteen year track record of assisting healthcare providers to drastically enhance their cash flow. The Company has had particular success with physician practices, medical laboratories, anesthesia practices, surgery centers, and pain management practices.
This proven and stable base of operations has laid the foundation for HBSG to enter the software technology segment of the medical billing business with its AutoMed medical billing software, which streamlines and automates the electronic medical billing services. The company believes that it is the "first in its class" and the only automated, full-service product on the market. HSBG is in the late stages of planning and developing a surgical center in Southern California as an asset-based revenue stream. HBSG also has operations in Rhode Island and Texas.
The market in which HBSG operates commands healthy trading multiples by Wall Street as exemplified by Per-Se Technologies Inc. (NasdaqNM: PSTI), a major competitor in the physician services and business outsourcing segment. PSTI, with a market cap of $591 million and a recent share price just below $20 per share, trades at a forward price/earnings multiple of 15.23 times this year's projected earnings (yahoo/finance).
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HBSG Marketing |
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HBSG continues to increase its relationships with physicians and medical specialty practices around the country. With a historical track record of revenues and earnings, HBSG has earned a credible reputation among its past and current clients. The 'Good Will' of HBSG's business integrity gives the Company a unique and durable position in the medical billing market.
These strategic components will allow HBSG to smoothly transition into the markets of medical software and brick & mortar surgical center operation with easier entry points and a willingness of supporting vendors, suppliers, and designers to provide HBSG with the best possible products and services.
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HBSG LEADERSHIP |
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Ms. Basu has over 15 years
of experience
in medical billing and is
a recognized pioneer in healthcare
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Why is HBSGI more successful than other billing agencies?
* Our staff is highly trained in the insurance industry for various states across the country.
* We utilize a unique approach to medical coding, billing, and practice management.
* We do not believe that relying exclusively on electronic billing guarantees maximum reimbursement.
* Most of our claims are mailed with a copy of all documentation of all procedures.
* This process eliminates the risk of an audit
Healthcare Business Services Groups, Inc., (HBSGI) is the fastest growing full-service medical billing agency in the country. What makes HBSGI stand out from thousands of other billing agencies in the industry?
First, HBSGI is a customized billing agency. The biller assigned to each client's account studies and specializes in their client's specific cases and will collect top dollar for their expertise.
Second, HBSGI is successful in medical billing for states other than California. In fact, HBSGI currently operates locations in Providence, RI, and Lorado, TX, in addition to its Headquarters in Upland, CA. It does this to better serve the specific needs of its clients.
Third, HBSG's CEO, Chandana Basu, is a pioneer in collecting from insurance companies, especially those that often refuse to pay. As the medical industry continues to change, HBSG's clients continue to rely on Chandana's extensive experience to take them to the "greener grass".
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TO CONTACT HBSG |
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Healthcare Business Services Groups, Incorporated
Healthcare Business Services Groups, Inc.
1126 W. Foothill Blvd., Suite 105, Upland, CA 91786
Phone: 909.608.0540 or 909.821.1419 - Fax: 909.373.1601
e-mail: General Information: colorred01@aol.com or info@hbsgi.com
HBSG Corporate Web sites: www.hbsgi.com and www.thenewhbsgi.com
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