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Phyhealth Provides Business Update on the Third Quarter of 2007

Posted on: Wednesday, 7 November 2007, 09:00 CST

Physicians Healthcare Management Group, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenance organizations (HMOs) in partnership with physicians, today provided a business update for the third quarter ended September 30, 2007.

Mr. Robert Trinka, chairman and chief executive officer, stated, "With each passing week we are moving closer to providing our novel and much needed solution to the healthcare crisis in America--community-based HMO's operated in partnership with participating physicians. Placing physicians in control of their own practices, including the insurance aspect and a "well-care" approach to their patients, is an enticing scenario that benefits all concerned allowing for high quality patient care that is designed to serve the needs of the local community. We have been very active in our efforts to educate the medical community on the merits of community-based HMOs and are taking the regulatory steps needed to roll out our pilot HMO in 2008."

Mr. Trinka continued, "We recently secured $2.5 million to begin the application process for obtaining our first HMO license and additional money for working capital purposes to embark on our marketing initiatives. We have entered into discussions with various physician groups interested in establishing community-based HMOs, and over the past few months have participated in three major healthcare industry conferences which generated additional interest and a substantial number of solid leads among the conference attendees."

"With the critical capital surplus financing in place along with addressing other regulatory matters, the foundation is in place for affordable, comprehensive and value-driven healthcare. Our first community HMO is expected to open in the state of Florida in 2008. In compliance with Florida insurance regulations and standard industry practice, we formed Phyhealth Plan Corporation (Plancorp) in September 2007. This new subsidiary will be the applicant for the HMO Certificate of Authority necessary for Phyhealth to develop its pilot community health plan."

Mr. Trinka concluded, "Our approach to healthcare fully integrates all the delivery and financing components of the healthcare system. We have determined that the core problem regarding the healthcare system in America centers around the structure of the delivery system and not just the healthcare insurance system, which is the common perception. With over 47 million Americans uninsured due to upwardly spiraling health insurance premiums, we look forward to being the catalyst for change in the healthcare industry. Our model rewards physicians for providing personalized, preventive care to keep patients healthy, which, in turn, keeps costs for physicians and patients low as potential health problems are addressed early on. In addition to reducing costs and improving patient care, our future plans also include layering on other value-added products and services in cooperation with physicians, such as medical malpractice insurance, local care facilities and wellness programs."

About Physicians Healthcare Management Group, Inc.

Physicians Healthcare Management Group, Inc. (Phyhealth) is a developer of community-based health maintenance organizations (HMOs) that are owned and operated in partnership with the participating physicians. Phyhealth Plans are designed to deliver high-quality affordable healthcare by enabling physicians to assume end-to-end management of healthcare for their patients. The Phyhealth model empowers physicians to provide preventive healthcare and proactively manage their patient's general health by aligning incentives amongst the HMO, physician and the patient. Phyhealth intends to offer additional value-added products and services in cooperation with physicians, including medical malpractice insurance, local care facilities and wellness programs, as well as information technologies such as secure electronic medical records.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Physicians Healthcare Management Group, Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. Additional information is available at: http://www.phyhealth.com.

Source: Business Wire

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