Houston, March 20, 2017 (GLOBE NEWSWIRE) -- Spine Injury Solutions, Inc. announces Lubbock TX affiliate location under its new affiliate expansion program.
HOUSTON, March 20, 2017 -- Spine Injury Solutions, Inc., Inc. (OTCQB:SPIN), a technology-driven, medical service, and healthcare solution company servicing the multi-billion dollar spine injury sector, today announced the addition of a new affiliate program to be located in Lubbock, TX.
Seven years ago, SPIN initiated its first affiliate program in Houston TX whereby SPIN would provide funding assistance to independent healthcare providers who provide diagnostic and treatment procedures for patients with spine injury accidents. In many cases the reimbursements for these medical treatments took several years, depending on the settlement timing of the case. For these reasons, SPIN developed programs to fund the affilates case billings after the procedure is completed at a discount and assume risk of future collection. During these seven years, while averaging three affiliates, over 8,300 procedures have been funded generating some $25 million in reported net revenues for SPIN. Actual cash collections to date from SPIN funded cases have exceeded $16 million.
Why SPIN Is Now Expanding Its Affiliate Program Nationally
In early 2014, SPIN began beta testing of a unique video transparency and documenting device called Quad Video HALO™ (QVH). In 2015 it received its US Patent on the QVH and began Medical Safety Certification Testing. In 2016, 3rd Party Testing was successfully completed and the QVH became certified for Medical use in both the US and EU. Since adding the QVH to its affiliate program, almost 2,500 cases have been funded. Included in the new affiliate Program is training based on SPIN’s business model. In many cases, there is minimal cash outlay to the independent healthcare providers other than a monthly cloud storage for all procedures involving the QVH. The independent healthcare provider may offer SPIN the option to fund all cases which used the QVH. SPIN has been advised by some attorneys that the use of the QVH helps expedite the settlement of the case.
William F. Donovan, M.D., Chairman CEO of Spine Injury Solutions, Inc., said, “Costs associated with accident victims total in the hundreds of millions of dollars annually. Much of this cost is attributable to delayed or improper early diagnosis of the injury causing unnecessary, long term problems and costs. With over 40 years’ experience as a Board Certified Orthopedic surgeon, I have evaluated many cases that would not have required unnecessary treatments if early diagnosis would have been made. I came to the conclusion that lack of proper ‘tools’ rather than medical incompetency was the cause in the delay for patients to receive appropriate, necessary, and reasonable treatment. This led to the development of the SPIN affiliate program with its appropriate protocols and most importantly, the QVH.”
.Having been one of the first surgeons in the country to use video in arthroscopic surgery, I felt there was a need to provide video documentation for accident victim procedures. For this reason, SPIN has invested some $2.5 million in developing and putting into service its proprietary QVH v.3. To date the QVH has been used on some 2,500 cases providing transparency for procedures performed.
About Spine Injury Solutions, Inc.:
We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey solutions to spine surgeons, orthopedic surgeons, DOs and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our management and funding services help reduce the financial burden on healthcare providers that provide patients with early-stage diagnostic testing and non-invasive surgical care, preventing many patients from being unnecessarily delayed or inhibited from obtaining needed treatment. We believe that our services and technology brings strong transparency and impartiality to all parties involved in the settlement of patient cases.
Additional information about the company, along with a video can be found at its website at www.spineinjurysolutions.com.
About Quad Video HALO, Inc.:
A wholly owned subsidiary of Spine Injury Solutions, Inc., Quad Video HALO, Inc brings surgeons and interventional pain doctors the technology to provide Transparency of their surgical procedures The Quad Video Technology™ V3.0 and HALO Rx™ creates a digital turnkey video and audio documentation solutions that integrates multiple views from other OR/treatment imaging sources with several other viewpoints just outside the sterile field.
Additional information about QVH can be found at its website: www.quadvideohalo.com.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company's recent filings with the SEC.
Dr. William F. Donovan
Chairman, President & CEO
Spine Injury Solutions, Inc.