POMPANO BEACH, Fla., May 1, 2007 (PRIME NEWSWIRE) -- MEDirect Latino Inc. (Pink Sheets:MLTO) (www.medirectlatino.org), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced that the Company has been issued a Medicaid Provider License by the State of Kansas Department of Social and Rehabilitation Services, and will immediately begin servicing the state's Medicaid beneficiaries.
Total Medicaid spending in Kansas for fiscal 2005 was $1,981B, servicing approximately 12% of the citizen population, as reported by The Henry J. Kaiser Family Foundation, www.kff.org. Through the Medicaid program, MEDirect Latino will provide services to the state's duly eligible population, including expanded services to children, adults, and disabled beneficiaries, under State guidelines. Additionally, the Company will continue to position itself under the new CMS Competitive Acquisition Program by focusing on licensure in those areas which will be competitively bid. Kansas City, Kansas and Kansas City, Missouri is a Market Service Areas (MSA), which will be bid in the opening round of the CAP. The Kansas City MSA has a market value of $277M for diabetic supplies and equipment.
MEDirect Latino Inc. coordinates its MEDirect-Medicaid Expansion Program with the MEDirect GeoDemo Indicator Algorithm Program the Company developed, which uses proprietary formulas, and when applied to atypical research blends information received from the U.S. Department of the Treasury, U.S. Social Security Administration, U.S. Census Bureau and Centers for Disease Control and Prevention (CDC). This data, when integrated using the Company's algorithms, with published information from the CMS, produces micro-demographic indicators, which pinpoint key target markets and aged Hispanic population centers. The Company will support its planned expansion into the Medicaid markets through mass media placements on television, radio and print. Currently, the MEDirect Latino Provider Relations Department has, in-process, 14 additional state Medicaid applications as identified by the MEDirect GeoDemo Indicator and the MSA's as defined by the CMS CAP.
MEDirect Latino, Founder and Executive Vice President, Mr. Raymond Talarico stated, "Continuing the Company's integration of our successful GeoDemo Indicator, coupled with a systematic approach for licensure in MSAs defined under the CMS CAP, we believe we are placing the Company to be a first mover under the Medicare CAP program. The Company's infrastructure, which is entirely bi-lingual, positions the Company as a unique, 'one-off' provider of healthcare products and services to all demographic groups in all MSAs as MEDirect Latino can cross culturally serve the market. Becoming a Provider for the Kansas Medicaid Program increases the payors, revenue and billable options to the Company, and further facilitates our entry into the underserved, multi-billion dollar Medicaid market."
ABOUT MEDIRECT LATINO:
MEDirect Latino (Pink Sheets:MLTO) (www.medirectlatino.org) is the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community. MEDirect Latino is rapidly growing and uniquely positioned to service the Hispanic community in the United States and Puerto Rico. MEDirect is the only company currently positioned to serve the U.S. Hispanic healthcare market as a direct-to-consumer Medicare provider on an authentically national level. Type II diabetes was targeted because of its unique status within the Medicare reimbursement regime and due to its high degree of correlation to other chronic conditions such as high blood pressure and heart disease. These and other conditions represent considerable future market potential. MEDirect will scale its model by leveraging its existing client base and infrastructure in introducing new products and services to existing customers as they are identified.
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Safe Harbor Disclosure:
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.