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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): 7-1-98
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BIRMAN MANAGED CARE, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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DELAWARE 0-22127 62-1584092
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(STATE OF OTHER JURISDICTION (COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
OF INCORPORATION)
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1025 HIGHWAY 111 SOUTH, COOKEVILLE, TENNESSEE 38501
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (931) 372-7800
(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)
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Item 5 - Other Events
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On June 30, 1998, the Company implemented a series of steps designed to
reduce the Company's cash operating requirements. These steps, implemented
primarily at the parent company and at Birman & Associates, Inc., include a
reduction in force, staff position consolidations, an across-the-board salary
reduction for most employees ranging from 10% - 30% of salary, and a reduction
in certain expenses. The net effect of these actions is expected to achieve
monthly cash savings of approximately $175,000 - $200,000. Eight staff
positions were eliminated and received severance payments of one to three
weeks' pay depending upon length of service. Outlook: [The following is a
"forward looking statement".] Management does not believe that these steps will
adversely affect the Company's ability to service its consulting clients and to
continue to attract new clients.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
BIRMAN MANAGED CARE, INC.
July 1, 1998 /s/ DAVID N. BIRMAN
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David N. Birman
Chairman of the Board,
President and
Chief Executive Officer
July 1, 1998 /s/ DOUGLAS A. LESSARD
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Douglas A. Lessard
Vice President, Treasure and
Chief Financial Officer
(Principal Accounting Officer)
