Patient Access Solutions Acquires telamentalhealth.com

Rhea-AI Summary

Patient Access Solutions (PASO) has announced its acquisition of Tela Mental Health LLC, enhancing its portfolio by providing mental health services through the telamentalhealth.com platform. This strategic move aims to offer unlimited access to mental health professionals for a low monthly fee of $29.95, serving patients and their families. The company targets over 10,000 subscribers in the first six months, capitalizing on the increasing demand for telemedicine. This acquisition positions PASO to meet the needs of the growing population experiencing mental health challenges, particularly post-COVID-19.

Positive

• Acquisition of Tela Mental Health LLC expands service offerings.
• Target of over 10,000 subscribers in first six months indicates strong growth potential.
• Affordable pricing of $29.95 per month provides attractive access to mental health services.

Negative

• None.

Forest Hills, NY, June 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Patient Access Solutions, Inc. (PASO), a provider of healthcare/financial processing and management solutions for the healthcare industry, proudly announces that it has acquired telamentalhealth.com/Tela Mental Health LLC., to add to their portfolio of services offered to the mental health community.  

This acquisition will allow Patient Access Solutions to offer mental health services through the telamentalhealth.com portal, connecting patients to thousands of psychologists, psychiatrists and therapists nationwide.

Currently, 20% of adults in the United States suffer from some type of mental illness (National Institute of Mental Health), 67% of American adults feel stress due to Covid-19 (American Psychological Association), and 1 out of 3 adults experience an anxiety disorder at some point in their lives (Washington Post). Further, Telemedicine has seen monumental adoption and government support through the pandemic.

The program will cost the patient only $29.95 per month, which is less than a copay! There are no additional fees or copays, and the service is unlimited access. Patients can visit their same care provider as often as they would like. Additionally, Tela Mental Health provides this same access to the whole household, up to 7 family members are included.

The goal of PAS/TelaMentalHealth.com is to achieve over 10,000 participants in the first 6 months and then grow from there. Tela Mental Health is focused on mental wellness for patients accessing their care provider remotely and the demand for this is high. We will leverage social media marketing, vertical partnerships, and conventional marketing techniques to introduce the solution to members and grow our patient subscriber base.

About Patient Access Solutions Inc. (www.pashealth.com)

Patient Access Solutions Inc. (PASHealth) is a Healthcare Solutions company which has created a formidable array of technology, resources and allies to enable it to become an agent of change in what has traditionally been a slowly evolving healthcare environment. For more information about the services and products of Patient Access Solutions, please visit our website at www.pashealth.com. 

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.

Contact:
info@pashealth.com

FAQ

What is the acquisition made by Patient Access Solutions?

Patient Access Solutions has acquired Tela Mental Health LLC to provide mental health services through telamentalhealth.com.

How much will the mental health service cost through PASO?

The mental health service will cost $29.95 per month, offering unlimited access without additional fees.

What is the expected participant goal for Tela Mental Health in the first six months?

The goal is to achieve over 10,000 participants within the first six months after the acquisition.

How does PASO plan to market the new mental health services?

PASO will utilize social media marketing, vertical partnerships, and conventional marketing techniques to grow its subscriber base.

What is the significance of this acquisition for PASO?

This acquisition allows PASO to tap into the growing demand for mental health services, particularly amidst rising mental health issues due to COVID-19.