RENNOVA HEALTH ANNOUNCES COMMENCMENT OF BILLING AS THE CENTERS FOR MEDICARE AND MEDICAID SERVICES (CMS) HAVE COMPLETED THE CHANGE OF OWNERSHIP PROCESS FOR JAMESTOWN MEDICAL CENTER, INC.
WEST PALM BEACH, Fla., June 29, 2018 (GLOBE NEWSWIRE) -- Rennova Health, Inc. (OTCQB: RNVA), (OTCQB: RNVAW) (“Rennova” or the “Company”), a vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers that acquired its second rural hospital in Jamestown, Tennessee on June 1, 2018, announces that it has received confirmation from the Centers for Medicare and Medicaid Services (CMS) that they have processed the change of ownership (CHOW) and Provider Tie-in process and issued the Medicare number to Jamestown TN Medical Center, Inc.
Jamestown TN Medical Center, Inc. will now be able to commence billing for services provided, including retroactively to June 1, 2018, the date of acquisition by Rennova Health, Inc.
“We are delighted to have completed the CMS change of ownership process within one month of completing this acquisition” said Seamus Lagan, CEO of Rennova. “Our challenge since taking ownership has been to complete this process as soon as possible and be able to bill and get paid for the services we provide. We can now bill and be paid retroactively to June 1, the date we took ownership, and look forward to now focusing on our future sales revenue and collections”.
”The speed at which this process has been completed is evidence of support and efficiency from all involved” said Lynette Pritchett, CEO of Jamestown TN Medical Center, Inc. “We are grateful for that support and look forward to continued provision of a needed service to the communities we serve and having a successful future and adding value as a Rennova Health owned hospital.”
About Rennova Health, Inc.
Rennova provides industry-leading diagnostics and supportive software solutions to healthcare providers, delivering an efficient, effective patient experience and superior clinical outcomes. Through an ever-expanding group of strategic brands that work in unison to empower customers, we are creating the next generation of healthcare. For more information, please visit www.rennovahealth.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Contacts: Rennova Health Sebastien Sainsbury, 561-666-9818 ssainsbury@rennovahealth.com
Released June 29, 2018