Reliq Health Technologies Inc. (TSXV:RHT or
OTCQB:RQHTF) (“
Reliq” or the
“
Company”), a technology company focused on
developing innovative mobile health (mHealth) and telemedicine
solutions for Community-Based Healthcare is pleased to provide the
following corporate update.
As previously announced, Reliq will be hosting a
webinar today, June 27th at 12:00pm EST at
https://bit.ly/2ZCBvMq. For those who are not able to attend
the webinar, a recording of the webinar will be available on the
Company’s website immediately following the session. A
written summary of the material updates to be presented in the
webinar is also provided below.
Agenda for Webinar
1.Review of
recent organizational and operational changes
2.Discussion
of recent changes to Medicare and Medicaid billing codes
3.Overview
of live pilots and contracts
4.New
business opportunities and market segments
5.Time to
cashflow positive
6.General/administrative
updates
1. Recent
Organizational and Operational Changes
As previously disclosed, the Company has
consolidated operations to Hamilton, Ontario to improve
communication and oversight and reduce operating costs, and has
built a world class team of new technical, operational and sales
staff.
To ensure that previous billing issues do not
recur, the Company now performs automated eligibility screening of
all patients prior to onboarding onto the iUGO Care platform.
Further, the Company’s contracts now require payment from clients,
irrespective of whether or not the client has been or expects to be
reimbursed by CMS or another payer. The iUGO Care platform
now provides adherence reports and other tools to help clients
ensure compliance and maximize reimbursements.
2. CMS Billing
Codes
The webinar will provide an overview of the
reimbursement criteria and value of the relevant CMS billing codes
for remote patient monitoring, telemedicine and chronic care
management.
3. Live Pilots and
Contracts
The Company is pleased to announce that it has
gone live with two new pilots in California and new pilots in
Alabama, Georgia, Montana and Pennsylvania. As previously
disclosed, Reliq also has pilots ongoing in Australia and New
Jersey. The Company will provide further updates on the
pilots as each one either concludes or converts to a full
contract. Reliq has also previously announced that it has
recently gone live with multiple new contracts in Maryland, New
Jersey and Texas.
4. New Business
Opportunities
Reliq’s current pipeline includes clients in
several new market segments, including Wound Care, Skilled Nursing
Facilities, Dialysis Clinics, Medically-Supervised Weight Loss and
Employee Wellness. The webinar will provide an overview of
these market segments and Reliq’s relevant product offerings.
5. Cashflow
Positive
Based on its current contracts, the Company
expects to be cashflow positive in Q4 2019.
6. General
Updates
The Company is pleased to report that it has
received over $458,000 through warrant exercises in May and
June.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
Reliq Health Technologies is a healthcare
technology company that specializes in developing innovative
software solutions for the Community Care market. Reliq’s powerful
iUGO Care platform supports care coordination and community-based
healthcare. The iUGO Care platform integrates wearables, sensors,
voice technology and intuitive mobile apps and desktop user
interfaces for patients, clinicians and healthcare administrators.
iUGO Care allows complex patients to receive high quality care at
home, improving health outcomes, enhancing quality of life for
patients and families and reducing the cost of care delivery.
iUGO Care provides real-time access to remote patient monitoring
data, allowing for timely interventions by the care team to prevent
costly hospital readmissions and ER visits. Reliq Health
Technologies trades on the TSX Venture under the symbol RHT and on
the OTCQB as RQHTF.
For further information please contact:
Investor Relations at ir@reliqhealth.com
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward
Looking Information
Certain statements in this press release
constitute forward-looking statements, within the meaning of
applicable securities laws. All statements that are not
historical facts, including without limitation, statements
regarding future estimates, plans, programs, forecasts,
projections, objectives, assumptions, expectations or beliefs of
future performance, are "forward-looking statements".
We caution you that such "forward-looking
statements" involve known and unknown risks and uncertainties that
could cause actual and future events to differ materially from
those anticipated in such statements.
Forward-looking statements include, but are not
limited to, statements with respect to commercial operations,
including technology development, anticipated revenues, projected
size of market, and other information that is based on forecasts of
future results, estimates of amounts not yet determinable and
assumptions of management.
Reliq Health Technologies Inc. (the
"Company") does not intend and does not assume any
obligation, to update these forward-looking statements except as
required by law. These forward-looking statements involve risks and
uncertainties relating to, among other things, technology
development and marketing activities, the Company's historical
experience with technology development, uninsured risks. Actual
results may differ materially from those expressed or implied by
such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
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