American Healthchoice Inc.AMHI
American HealthChoice, Inc. (AMHI), incorporated in September 1988, owns, operates and manages 12 clinics providing medical, physical therapy and chiropractic services in San Antonio, McAllen, Laredo, San Benito, Corpus Christi and Houston, Texas, and New Orleans, Louisiana. AMHI also has a physical therapy facility at its largest chiropractic clinic. Substantially all of the Company's revenues are derived from chiropractic, physical therapy and medical services provided to individuals living in the vicinity of the clinics. AMHI depends upon third-party payors for reimbursement of approximately 98% of patient services. A substantial percentage of reimbursements for services are received from patient insurance settlements administered by attorneys representing patients with third-party claims.
Chiropractic Services
AMHI owns and operates 10 primary care chiropractic clinics, which are located in suburban areas and serve the general population for their surrounding communities. The services are based on preventative treatment and treatment of the nerve system and body structure, such as the spinal column. Most of the chiropractic clinics have a chiropractor that is complemented with the appropriate support staff.
The marketing services offered by the Company are designed to assist the clinics in developing a patient base through promoting the clinics' services. AMHI provides advice and assistance to the clinics for marketing and advertising. Its patient base is developed through its reputation for quality treatment, patient referrals, printed advertisements and special promotion such as discounts, free initial examinations, open houses, circulars and community participation.
Medical Services
AMHI owns and operates two primary care medical clinics located in San Antonio. The patient source for the Southcross clinic comes from people familiar with the clinic's location, commercial contracts and referrals from attorneys. The San Pedro clinic services are almost exclusively personal injury and worker compensation cases. The patient source for this clinic comes from attorney referrals and chiropractic clinics, including Company-owned clinics in San Antonio.
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AMHI - AMER HLTHCHOICE (OTCBB)
Date Open High Low Last Change Volume % Change
08/03/04 0.0300 0.0300 0.0240 0.0270 -0.0010 2519400 -3.57%
Composite Indicator
Trend Spotter TM Buy
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 1322595
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 961528
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 716999
Overall Average: 96% - Buy
Price Support Pivot Point Resistance
0.0270 0.0210 0.0270 0.0330
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American HealthChoice, Inc. provides medical, physical therapy and chiropractic services through primary care medical clinics and chiropractic clinics. AMHI owns and operates 13 clinics in Texas and Louisiana. On July 21 American HealthChoice, Inc. announced revenues for the three month period ended June 30, 2004 were $2,546,000 compared to $1,960,000 in the same period in 2003. Dr. J.W. Stucki, CEO of AMHI stated, "We are very pleased with fiscal year 2004 revenues to date. The last two quarters have been substantially stronger than the same quarters in fiscal year 2003. These current quarter to previous year quarter increases, which are largely driven by our new Affiliated-Revenue program, should continue in our quarter numbers ending September 30, 2004, which historically is the strongest quarter of the fiscal year."
AMHI earlier announced that it had completed the issuance of 20,475,000 shares of its common stock to retire its obligations under a convertible debenture dated August 25, 2000, thereby causing the release of a first lien against the company's accounts receivable. According to Dr. Stucki, "The final conversion of this debt into equity is a positive step for AMHI shareholders. The Company now has the ability to better utilize a very significant asset as an integral part of its corporate finance structure. With revenues increasing and net receivables of approximately $6,000,000, we are no longer restricted to equity funding to finance growth and meet working capital requirements."
In June 2003, the AMHI initiated its Affiliated-Revenue Program to increase patient billings through arrangements with established clinics owned and/or operated by individual doctors. Under this program, AMHI directs patients to these clinics using its established network of patient referral sources comprised of independent marketers and other professionals. The company reports patient billings as revenue and the treating doctor's fee as an expense with payment at the time of collection. The primary financial benefit is additional operating income without new fixed costs such as employee salaries or office rent. The arrangement is equally attractive to the treating doctor because of the increased number of patients and the resulting increased income. To date AMHI has focused on clinics located in and around large Texas cities where there exists no AMHI owned clinics within a 30-minute travel time for prospective patients.
As of June 15, 2004, AMHI has arrangements with fifteen clinics, including two in Austin, two in the Dallas area, and six in the Houston area. According to Dr. J.W. Stucki, CEO of AMHI, "We anticipate adding three to four additional clinics to our Affiliated-Revenue program each quarter. This new source of patient billings will be responsible for a much larger percentage of American HealthChoice's revenue and operating income in the future."
Looks like an undiscovered gem! The fact that insiders own 72% of the outstanding shares... with the CEO holding 45% is sweet. That kind of confidence combined with growing revenues and an innovative "Affiliated-Revenue Program" with non-AMHI clinics says a lot about a company that restructured and is coming back from a Chp. 11 bankruptcy. Place your bets. The train will be leaving the station shortly on this one!
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Due Da Due......But Be Quick About It!!!!!
Wid ma mind on ma money an' ma money on ma mind!!!
DaDog