Comprehensive Care CEO, Clark A. Marcus Opens Up About Pharmacy Management Program Which Saves Tens of Millions of Dollars
Mr. Clark A. Marcus, Chairman and CEO of Comprehensive Care Corporation
Comprehensive Care provides behavioral health, substance abuse and psychotropic pharmacy management services throughout the United States. During the first nine months of 2011, it grew its revenues by 212% to $54 million, compared with the same period in 2010.
Adding to the excitement, Mr. Marcus explains the recently launched pharmacy management program in cooperation with Wal-Mart, which can save tens of millions of dollars annually for both private and governmental entities.
The CEO shares with us that if the Company continues to offer its current services, it will become profitable in 2012, but with the pharmacy management program included, “the world changes for the Company”.
CompCare’s management team is also introduced as the executive describes the backgrounds of the Company’s key players. Mr. Marcus adds that he and his team have invested over $22 million of their own money since they took over the Company a few years ago.
Our thorough interview with Mr. Marcus helps any investor to become more familiar with Comprehensive Care, which currently has a market cap of less than $12 million.
Our interview is available in a convenient transcript format and you can listen to our interview with Mr. Marcus by clicking the play button on the media player below. We’d love to hear your comments or questions.
| |  |
This article doesn’t say anything.= Like how about explaining how they make their money? Waste of time to wade through all the BS by Mr. Marcus =
Hi Sam,
Simply put, CompCare provides managed care services in the behavioral health, substance abuse, and psychotropic pharmacy management fields to Medicare, Medicaid, Children’s Health Insurance Programs and other commercial health plans.
These, mostly regional, health plans usually don’t have their own behavioral health network. So they will contract with a Managed Behavioral Healthcare Organization (MBHO) like CompCare, to obtain access to behavioral healthcare professionals, claims processing, case management, better-integrated behavioral healthcare, and psychotropic pharmacy management services.
Typically, a health plan engages CompCare on an annual basis to provide managed behavioral healthcare, substance abuse and psychotropic pharmacy management services to its members. In return, CompCare receives a fixed fee paid on a so-called “per-member-per-month” (PMPM) basis. The agreements fall into two broad categories:
In most cases an at-risk agreement is signed where the PMPM fee includes both the costs paid out to the providers and for the pharmaceuticals. In exchange for the fee, which is set at the beginning of the contract, CompCare bears all costs associated with providing these services.
Does that answer your question?