Reliq Health Technologies, Inc. Announces New Contracts in California, Nevada and Texas
April 21 2022 - 3:01AM
Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or
WKN:A2AJTB) (“
Reliq” or the
“
Company”), a rapidly growing global healthcare
technology company that develops innovative Virtual Care solutions
for the multi-billion dollar Healthcare market, today announced
that it has signed new contracts with two physician practices, a
hospital and a Skilled Nursing Facility in California, Texas and
Nevada.
“We are excited to be adding our first hospital
client to the iUGO Care platform,” said Dr. Lisa Crossley, CEO at
Reliq Health Technologies, Inc. “Both the Skilled Nursing Facility
and the hospital will be using the iUGO Care Transitional Care
Management (TCM) module along with Remote Patient Monitoring (RPM),
Chronic Care Management (CCM) and Behavioral Health Integration
(BHI) to improve health outcomes for patients who are transitioning
from an inpatient facility to the community. Transitional Care
Management helps ensure continuity of care for patients
post-discharge, preventing complications that lead to readmissions.
Under the Centers for Medicare & Medicaid Services (CMS)
Value-Based programs, hospitals and SNFs are assessed penalties for
high rates of readmissions and can earn bonuses for low rates of
readmission. According to data published by CMS, in FY2021 over 70%
of SNFs and over 80% of all hospitals governed by CMS Value-Based
programs were assessed penalties due to excessive readmissions.
Preventing readmissions not only provides financial benefits to
these inpatient facilities but also improves quality of life and
long-term health outcomes for patients. The hospital and SNF
patients will be onboarded on a rolling basis beginning next month
with over 1,000 patients expected to be added to the platform in
2022. These patients are expected to generate recurring
software and professional services of $50 per patient per month at
75% gross margin. The physician practices are expected to onboard
over 1,500 patients in 2022, beginning in June. These patients are
expected to generate an average revenue of $65 per patient per
month at 75% gross margin.”
Reliq Health
Reliq Health Technologies is a rapidly growing
global healthcare technology company that specializes in developing
innovative Virtual Care solutions for the multi-billion dollar
Healthcare market. Reliq’s powerful iUGO Care platform supports
care coordination and community-based virtual healthcare. 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, on the
OTC as RQHTF and on the WKN as A2AJTB.
ON BEHALF OF THE BOARD“Dr. Lisa Crossley”CEO and Director
For further information please contact:
Company ContactInvestor Relations at
ir@reliqhealth.com
US Investor Relations ContactInvestor
RelationsLytham Partners, LLCBen ShamsianNew York |
Phoenix646-829-9701shamsian@lythampartners.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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