InvestmentPitch Media Video Discusses Reliq Health’s Signing of 5 New Contracts with 3 Primary Care Practices and 2 Home Health Agencies in the US.
March 17 2022 - 9:57AM
Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF)
(FSE:MHN2), a rapidly growing global telemedicine company
developing innovative Virtual Care solutions for the
multibillion-dollar Healthcare market, has signed five new
contracts with three primary care practices and two home health
agencies in the US. The company is also expanding its mental health
care capabilities beyond Behavioural Health Integration (BHI) to
also support Collaborative Care Management (CoCM).
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Dr. Lisa Crossley, CEO, stated: “We are pleased to
be adding these five new clients. We are also excited to be
expanding our support for mental health care by adding
Collaborative Care Management (CoCM) to our platform. Our CoCM
module allows primary care physicians and specialists to
proactively care for patients with behavioural, mental health or
psychiatric conditions including addiction. CoCM is an additional
level of care that can be offered to patients who aren’t responding
to Behavioural Health Integration services alone. The Centers for
Medicare and Medicaid Services (CMS) reimburse clinicians an
average of $230 per patient per month for CoCM services, in
addition to any payments the provider is receiving from CMS for
other virtual care services provided to the patient including
Remote Patient Monitoring (RPM) and Chronic Care Management (CCM).
CoCM therefore provides a new revenue stream for clinicians while
improving care for patients with the most challenging mental health
and addiction issues.”
According to the American Psychiatric Association,
under Collaborative Care Management, primary care and behavioral
health providers collaborate using shared care plans to deliver
both physical and mental health care, effectively reducing
duplicate assessments. This effective and efficient integration of
services has proven to be successful in terms of controlling costs,
improving access, improving clinical outcomes, reducing the stigma
related to mental health, and increasing patient satisfaction.
These new providers will add more than 2,000 new
patients to the company’s iUGO Care platform, with onboarding
expected to begin next month. The contracts include a one-time
payment of $400,000 for medical monitoring device hardware and are
expected to generate an average recurring revenue of over US$70 per
patient per month. When the 2,000 patients are fully onboarded and
generating revenues of US$70 per patient per month, the company
anticipates generating revenue of more than CDN$180,000 per
month.
Based in Hamilton, Ontario, with offices in
Florida and Texas, Reliq specializes in developing innovative
Virtual Care solutions for the multi-billion dollar healthcare
market. The company’s powerful iUGO Care technology platform is a
comprehensive SaaS solution that allows complex patients to receive
high-quality care at home, improving health outcomes, enhancing the
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 emergency
room visits.
The shares are trading at $0.78. For more
information, please visit the company’s website,
www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations
in the United States is handled by Ben Shamsian of Lytham Partners,
who can be reached at 649-829-9701 or by email at
shamsian@LythamPartners.com.
Disclaimer
The information in this Investmentpitch Media Ltd
video is for the viewers information only. Reliq Health
Technologies has paid a fee not exceeding $2,000 in cash to have
its current news release produced in video format. The corporate
information is based on information that is publicly available. Any
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