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Vancouver, British Columbia--(Newsfile Corp. - January 20, 2022) - Reliq Health Technologies (TSXV: RHT) (OTC Pink: RQHTF) (WKN: A2AJTB), a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed new contracts with five physician practices in Texas, Puerto Rico and California.
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Dr. Lisa Crossley, CEO, stated: "We are pleased to be adding these five practices to our platform. These new clients include primary care, internal medicine, nephrology and orthopedic practices. The Centers for Medicare & Medicaid Services (CMS) have increased reimbursement amounts by over 8% relative to 2021 for existing covered services including Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Behavioural Health Integration (BHI) and Transitional Care Management (TCM). Effective January 1st, 2022, CMS has also introduced five new billing codes for Remote Therapeutic Monitoring (RTM), which allows for monitoring of both physiologic and non-physiologic data (e.g. medication adherence) for patients who have musculoskeletal conditions or asthma. These increased financial incentives clearly demonstrate CMS's commitment to funding proactive, preventative healthcare programs aimed at preventing complications and hospitalizations in patients with chronic conditions, improving health outcomes and reducing healthcare costs. Market demand for Reliq's products continues to grow as more clinicians recognize the benefits of iUGO Care for both their patients and their practices."
According to Statista, a leading provider of market and consumer data, home healthcare spending in the US alone, by Medicare and Medicaid exceeded US$80 billion in 2019 and has been growing at approximately 10% annually.
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.
These new contracts will add more than 3,000 patients to the company's platform by the end of second quarter generating an average revenue of more than US$60 per patient per month or in excess of CDN$225,000 in revenue per month.
The shares are trading at $1.05. 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.
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