Reliq Health (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global telemedicine company, has signed new contracts to onboard more than 8,000 new patients. The company has signed four new US contracts with three individual physician practices in Texas and California and a health network in Nevada that includes 10 family physician practices. When the more than 8,000 new patients are fully onboarded and generating an average revenue of US$60 per patient per month, the company anticipates generating additional revenue of more than CDN$600,000 per month.
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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 new contracts to onboard more than 8,000 new patients.
The company has signed four new US contracts with three individual physician practices in Texas and California and a health network in Nevada that includes 10 family physician practices.
Dr. Lisa Crossley, CEO, stated: “Market demand for Reliq’s Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Behavioural Health Integration (BHI) and additional specialized virtual care solutions is rapidly increasing as physicians and payors recognize the benefits of proactively managing at-risk patients in the home to prevent complications. Both the scope of the virtual care programs funded by the Centers for Medicare & Medicaid Services and the level of reimbursement have increased dramatically over the last several years. Our physician clients can now collect over $400 per patient per month in new, high profit revenue by deploying Reliq’s iUGO Care platform. Preventative care enabled by iUGO Care can help payors reduce the average cost of care per patient by over 80% by enabling early interventions by the patient’s primary care physician, preventing costly and disruptive hospitalizations and ER visits.”
Onboarding of both new clients and new patients continues to accelerate this quarter.
The company expects to begin onboarding these 8,000 new patients next month, which are expected to generate an average revenue of more than $60 per patient per month at 75% gross margin.
When the more than 8,000 new patients are fully onboarded and generating an average revenue of US$60 per patient per month, the company anticipates generating additional revenue of more than CDN$600,000 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 $0.72.
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
