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American CareSource Holdings Adds Benefit Administrative Systems to Client Portfolio

^{Published on 2010-08-31 05:41:45 - Market Wire}
 

HOMEWOOD, Ill. & DALLAS--([ BUSINESS WIRE ])--American CareSource Holdings, Inc. (NASDAQ: ANCI), the nationa™s leading ancillary health care system, announced today that it has signed and implemented an agreement with Homewood, Illinois-based Benefit Administrative Systems, LLC (aBASa), a third party administrator (aTPAa) representing an additional 200,000 covered lives.

David S. Boone, Chief Executive Officer of American CareSource (aACSa), noted, "The addition of BAS to our client portfolio has provided us with an opportunity to become an integral part of BASa™ affordable healthcare solution. The BAS suite of services a" including claims administration, utilization review, large case and disease management a" can all benefit from access to ACSa™ more than 38,000 quality provider locations."

Joe Toscano, Chief Financial Officer of BAS stated, "We are equally pleased to offer our clients the benefits of the ACS provider network. In todaya™s changing world of healthcare, our goal is to design and manage employee benefit plans that are not only cost effective for the employer, but also meet the ever-changing needs of the employee and his family. ACSa™ network customization allows us to maximize provider access by all employees."

About American CareSource Holdings, Inc.

American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of over 4,600 ancillary service providers at more than 38,000 sites through its subsidiary, Ancillary Care Services. Ancillary Care Services provides ancillary health care services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion and has grown to over 20% of total national health expenditures. These providers offer services in 31 categories including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics and others.

The Company's ancillary network and management provides a complete outsourced solution for a wide variety of health care payors and plan sponsors including self-insured employers, indemnity insurers, preferred provider organizations, health maintenance organizations, third party administrators and both federal and local governments. For additional information, please visit [ www.anci-care.com ].

About Benefit Administrative Systems, LLC

With offices located in the suburbs of Chicago and St. Louis, BAS offers flexibility, timeliness, and control to its diverse client base of corporate employers, non-profit employers, and government employers. Founded in 1983, BAS has become a premier third party administrator in the national marketplace. For more information about Benefit Administrative Systems, visit their website at [ www.benadmsys.com ].

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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic, political and regulatory conditions, the effect of competition, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.