Scottsdale 10/2/2015 8:00:00 PM
QualityStocks News - MIT Holding, Inc. (MITD) Industry-Changing Solutions Address Key Post-Care Concerns
QualityStocks would like to highlight MIT Holding, Inc. (OTC: MITD). The company, through its agents, facilitators and contractual obligations, offers professional outpatient medical care with ambulatory infusion therapies, home infusion services, and medical equipment delivery. The company is also pursuing government contacts to obtain approval to import pharmaceutical products into the Americas.
In the company’s news,
You could assume plenty of reasons someone may not be a fan of going to the hospital. Fears of doctors, needles and tests aside, many people simply cringe at the aftermath of a hospital: recovery and bill management.
MIT Holding provides professional outpatient medical care with ambulatory infusion therapies, home infusion services and medical equipment delivery. At the core of its operations, MIT Holding is addressing the mayhem associated with hospital discharge and subsequent at-home recovery, working through its growing network of accredited agents, facilitators and contractual obligations to operate as a single-source provider of the aforementioned services.
From the time of patient discharge from the medical facility, MITD handles everything pertaining to the at-home recovery phase, including in-home medical equipment, infusion services, medications, follow-up appointments, organize therapy sessions, wound dressings, transportation. This saves the patient and their caretakers with significant convenience and assistance through what might otherwise become a burdensome task that delays full recovery.
MITD’s goal here is to make sure there is no lapse in patient care or communication. Furthermore, the digital paperwork MIT maintains in order to monitor the patient’s recovery contains all the information the hospital and doctors need to comply with the industry rules.
Another advantage is that MITD meets and/or exceeds major U.S. health insurance requirements and is therefore able to direct bill and receive payments from carriers on behalf of the patient its agents and its facilitators. This ability marks an important step in the company’s goal of developing the first-of-its-kind seamless transition for patient needs from hospital discharge to complete home recovery. Because the company handles insurance inquires and professional insurance claim billing, mounting claims, bills and calls to insurance companies are no longer an insurmountable task.
The company also provides expert legal, accounting, advisory and educational services to physicians, medical centers, hospitals, small and large businesses regarding the Affordable Care Act; offers travel and transportation services of medically challenged patients for medical needs and personal travel; and through its contracts is approved to, conduct and administer FDA clinical trials.
Revolutionary to the broader healthcare industry, MITD’s sails are starting to catch wind as it sees the fruition of its reorganization strategy implemented in 2014. The company last month reported that sales for the first six months were $851,724, an increase over sales of $473,153 for the same period of 2014. Adjusted net income for the period was $265,967, or $0.0027 per diluted share. In a GAAP basis, MITD’s first six months of 2015 earned a gross profit of $631,725 compared to $312,240 for the comparable period of 2014.
For the six-month period ended June 30, 2015, MITD produced a per share profit on 202% increase in revenues, as compared to the same period of 2014, reflecting a 37% increase in receivables.
“We are pleased with the strong financial and operational performance of our reorganization strategy. The first six months of profit and growth validate our strategy and approach to our business model,” MITD Chief Executive Officer Walter Drakeford stated in a previous news release. “The unabated growth in the medical industry is creating headwinds, contributing to our continued growth and profitability. The MITD concept of bringing together all necessary services and products under one umbrella for a patient’s post-medical event recovery is, to our knowledge, the first in the industry.”
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.