Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global healthcare technology company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed 10 new contracts in the United States.
These new contracts, with eight physician practices in Nevada and Northern California, and two home health agencies in Texas, are expected to add more than 5,000 new patients to Reliq’s iUGO Care platform by the end of 2023, and generate an average revenue of US$65 monthly per patient at an expected 75% gross margin.
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Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global healthcare technology company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed 10 new contracts in the United States.
These new contracts, with eight physician practices in Nevada and Northern California, and two home health agencies in Texas, are expected to add more than 5,000 new patients to Reliq’s iUGO Care platform by the end of 2023, and generate an average revenue of US$65 monthly per patient at an expected 75% gross margin.
Dr. Lisa Crossley, CEO, stated: “We are pleased to be adding these ten new clients to our platform, and to be expanding beyond our current presence in Southern California to Northern California. Patients in Northern California outside of the large urban centers face significant challenges in accessing care. There is a large rural Medicare population in Northern California and we are excited to be working with their care providers to help provide access to high quality virtual care. In Nevada and California, the physician practices will be providing Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) to their patients. In Texas, the home health agencies will be providing RPM to their patients.”
According to Statista Research, Medicare outlays in the United States amounted to US$868 billion in 2021 and are predicted to more than double to US$1.9 trillion in 2032.
Spending on services such as physician services, outpatient services, and physician-administered drugs, accounts for the largest share of Medicare benefit spending.
Projected spending growth for Medicare is due in part to growing enrollment in Medicare related to the aging of the population, increased use of services and intensity of care, and rising health care costs.
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 platform for care coordination and home healthcare integrates wearables, sensors, voice technology with intuitive mobile apps and desktop software for patients, families, clinicians, and healthcare administrators, allowing 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 $0.50.
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
