Reliq Health Technologies, Inc. Launches New Post-Discharge Program and Signs New Hospital Clients in CA, FL and PR
August 17 2023 - 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, is pleased to
announce that it has launched a new post-discharge program for
acute care hospitals and signed new hospital clients in California,
Florida and Puerto Rico. The new contracts are expected to add
5,000 new patients to the platform every month by the end of 2024.
“We are very excited to announce our new
post-discharge program aimed at acute care hospitals,” said Dr.
Lisa Crossley, CEO at Reliq Health Technologies, Inc. “This new
iUGO Care program supports patients who are being discharged from
an acute care hospital to a wide range of care settings, from their
own homes to inpatient rehabilitation, assisted living or skilled
nursing facilities. Under the Centers for Medicare & Medicaid
Services (CMS) Hospital Readmissions Reduction Program (HRRP),
hospitals that fail to meet readmission targets can be assessed
penalties equal to up to 3% of their total Medicare reimbursement
for the following year, translating to millions of dollars in lost
revenue. In 2021, over 96% of all Florida hospitals were assessed
financial penalties due to readmission rates. According to Kaiser
Health News, over 2,300 hospitals across the US will pay a total of
over $320 Million in HRRP penalties in 2023 based on penalties
assessed by CMS in 2022. Our clients’ data shows that healthcare
organizations using Reliq’s iUGO Care platform have been able to
drastically reduce their readmissions rates by over
90%, avoiding financial penalties and improving patient
health outcomes and quality of life. This program is a win-win for
hospitals, clinicians, patients, and their families.”
“With iUGO Care’s post-discharge program,”
continued Dr. Crossley, “patients receive targeted monitoring for
the first 30 days after discharge to specifically prevent
readmission to hospital and are then followed long-term using the
iUGO Care Remote Patient Monitoring (RPM), Transitional Care
Management (TCM) and Behavioural Health Integration (BHI) modules
to improve long-term health outcomes and prevent complications that
could lead to future hospitalizations. The Company expects to add
over 5,000 new patients per month to the platform by the end of
2024 through these new contracts, generating revenue of
approximately $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 Frankfurt Stock Exchange under the WKN:
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
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
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"Company") does not intend and does not assume any
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SOURCE: Reliq Health Technologies Inc.
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