- During the quarter, ACS continued a focused pricing strategy that maintained clients’ savings on their ancillary spend, but generated incremental revenue of approximately $250,000, which also had a positive impact on contribution margin and cash flow.
- ACS began receiving increased claims volume as a result of an expanded provider agreement with a national anatomic pathology laboratory service provider.
- During the quarter, ACS took steps to manage operations and control costs in preparation for 2012.
- As previously announced, ACS engaged JMG Management Group to consult on the process of transforming ACS’ sales function.
- ACS controlled headcount through natural attrition; headcount at December 31, 2011, was 57 employees compared to 61 employees at December 31, 2010.
- ACS moved from a self-funded health plan to a fully insured plan, which will reduce ACS’ associated benefit costs for 2012.
- The company amended its office lease to eliminate unutilized space, which will result in approximately $48,000 of savings in 2012.
- ACS preserved existing cash and cash equivalents, which were $11.3 million at December 31, 2011.
- Continuing from the third quarter of 2011, the company spent a total of $85,000 on external consulting costs to review and analyze various short and long-term strategic initiatives relating to the company’s mix of services, development of new services and programs, and sales and marketing efforts.
American CareSource Announces Fourth Quarter And Year-End Financial Results For 2011
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