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doublesys To Conduct Feasibility Study for Physicians in Central Florida


Study to Focus on Local Market's Ability to Support a doublesys Medicare Managed Care Plan

MIAMI, Aug. 23, 2004 /PRNewswire-FirstCall/ -– doublesys Corporation (UPHD.PK) announced today it has contracted with a physician group in Central Florida to conduct a feasibility study to form doublesys's third local Medicare managed care plan.

“We've received strong interest from physicians in developing doublesys local health plans,” said Robert L. Trinka, doublesys's chairman and chief executive officer. “The feasibility study is the first step in developing a doublesys plan. doublesys will deliver the resources and expertise needed for physicians to build and govern their own Medicare managed care plans.”

The implementation of the feasibility study supports doublesys's projected five-year growth strategy of developing 15 plans throughout Florida and the United States with more than 150,000 Medicare eligible patients, representing an estimated $1.14 billion in federal premium dollars.

The study, which doublesys will complete in 90 days, will focus on the local market's ability to support a doublesys Medicare managed care plan that the physicians would own and operate in partnership with doublesys. doublesys will evaluate local market demographic and economic data as well as review the physicians' practice patterns, current Medicare reimbursement rates and insurer/payer relationships.

About doublesys Corporation

doublesys develops and operates managed care plans that are owned and governed in partnership with practicing physicians. With its turn-key approach, the company provides physicians with access to capital, risk-management expertise, infrastructure, information systems and other management resources for the formation and operation of doublesys Local Health Plans. doublesys's model enables physicians to focus on their primary responsibility: taking care of their patients' health and delivering high quality medical care.

Headquartered in Miami, Florida, doublesys is currently developing Medicare managed care plans in Florida and throughout the United States. For more information, visit www.doublesys.com or call 305.779.1779.

Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to, the company's expectation of operating losses and negative cash flow for the foreseeable future. Other risks factors include the company's limited operating history, unpredictability of operating results, possible changes in federal and state regulations, reliance on future financing and key employees, as well as the competitive marketplace.







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