ALPHARETTA, GA / ACCESSWIRE / August 8, 2022 / RushNet, Inc (OTC PINK:RSHN), (the "Company") heliosDX provides accurate, impartial, and reliable laboratory testing to patients and providers, while serving as an affordable and practical independent laboratory solution. heliosDX prides itself on its mission and value proposition. But independent laboratories throughout the nation are faced with increased economic pressures from insurance companies and globally-dominant laboratories with exclusive contracting arrangements resulting in forced patient steerage - taking the decision-making out of the hands of patients and their physicians.
For many years, heliosDX has provided laboratory services to WellMed patients throughout the United States. heliosDX has enjoyed a good business relationship with WellMed - until recently. Historically, WellMed paid for the services provided by heliosDX. WellMed has initiated a bad faith scheme to not pay for valid, medically necessary laboratory tests ordered by licensed physicians on behalf of WellMed patients.
heliosDX has exercised great efforts to attempt to resolve this dispute, but, to date, has been unsuccessful in reaching a resolution with WellMed. It is clear that WellMed's nonpayment of services is an attempt to steer laboratory services to larger laboratories. Throughout this process, heliosDX has continued to provide testing and results to patients and their treating physicians. heliosDX feels it is extremely important - especially in light of the opioid crisis faced by this country - to continue to provide testing services to patients and providers.
Mr. Ashley Sweat, CEO of heliosDX, states, "If we allow third party payors, like WellMed, to determine what is or is not medically necessary for patients, we completely aid in the injustice continued to be experienced by patients and their treating physicians, and further degrade our healthcare system. To force a physician or provider to use a certain "big box" laboratory completely goes against the democratic foundation upon which this country was built and patient's and physician's right to choose."
In the last few months, heliosDX has processed over 1,000 medically necessary physician ordered tests, and billed nearly one million dollars without reimbursement or substantiated justification. Yet, WellMed continues to receive premiums as an MCO. heliosDX will continue servicing these patients while fighting WellMed for physician, patient and laboratory rights.
heliosDX is a National Clinical Reference Laboratory offering High-Complexity Urine Drug Testing (UDT), Behavioral Drug Testing, Allergy Droplet Cards, Oral Fluids, Infectious Disease (PCR), and NGS Genetic Testing. We are contracted in 44 of the lower 48 states and looking to expand our reach and capabilities. We intend to always stay ahead of the curve by continually investing in our infrastructure with the most efficient scientific proven instruments and latest cutting-edge software for patient and physician satisfaction. In management's opinion, following such best practices are intended to allow heliosDX to provide physicians fast and accurate reporting, meeting, and exceeding industry benchmarks. It is our goal to excel in patient and client care through physician designed panels that aid in testing compliance and reporting education.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). The Company cautions that statements, and assumptions made in this news release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates made by management. Actual results could differ materially from current projections or implied results. The Companies undertake no obligation to revise these statements following the date of this news release.
Investor caution/added risk for investors in companies claiming involvement in COVID-19 initiatives -
On April 8, 2020, SEC Chairman Jay Clayton and William Hinman, the Director of the Division of Corporation Finance, issued a joint public statement on the importance of disclosure during the COVID-19 crisis.
The SEC and Self-Regulatory Organizations are targeting public companies that claim to have products, treatment, or other strategies with regard to COVID-19.
The ultimate impact of the COVID-19 pandemic on the Company's operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak. Additionally, new information may emerge concerning the severity of the COVID-19 pandemic, and any additional preventative and protective actions that governments, or the Company, may direct, which may result in an extended period of continued business disruption, reduced customer traffic and reduced operations. Any resulting financial impact cannot be reasonably estimated at this time.
We further caution investors that our primary focus and goal is to battle this pandemic for the good of the world. As such, it is possible that we may find it necessary to make disclosures which are consistent with that goal, but which may be averse to the pecuniary interests of the Company and of its shareholders.
SOURCE: RushNet, Inc.
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