Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global telemedicine company, signs new contract with network of 40 Skilled Nursing Facilities in Florida, adding 50,000 patients to its platform. Reliq will provide Traditional Care Management to newly discharged patients at a rate of US$60 per patient, with recurring revenue from Remote Patient Monitoring, Chronic Care Management and Behavioural Health Integration of US$65 per patient per month, at 75% gross margin.
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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 a new contract with a network of 40 Skilled Nursing Facilities in Florida.
Dr. Lisa Crossley, CEO, stated: “Skilled Nursing Facilities (SNFs) play a critical role in the healthcare system, helping patients transition from acute care back into the community in a lower-cost setting than the hospital. As the population ages and grows the number of Medicare patients with chronic conditions is steadily increasing, placing pressure on SNFs to reduce the length of stay for individual patients in their facilities. As a result, demand from the SNF market for post-discharge care has grown dramatically. SNFs face significant financial penalties if patients are readmitted to their facilities or to hospital post-discharge. Reliq’s iUGO Care Transitional Care Management (TCM), Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) solutions can help improve post-discharge health outcomes and reduce readmissions, while also generating new revenue streams for Skilled Nursing Facilities.”
With a Skilled Nursing Facility, trained registered nurses provide the same level of nursing care you receive in a hospital, in a medical setting, under a doctor’s supervision.
After an illness, injury or surgery, patients may go from a hospital to a Skilled Nursing Facility to continue recovering, where in addition to skilled nursing, the care may include rehabilitative services from licensed physical, occupational or speech therapists.
A Skilled Nursing Facility provides transitional care, which is covered under Medicare for a limited time after a qualifying hospital stay.
Reliq will provide Traditional Care Management to newly discharged patients at a rate of US$60 per patient, with recurring revenue from Remote Patient Monitoring, Chronic Care Management and Behavioural Health Integration of US$65 per patient per month, at 75% gross margin.
The company will begin onboarding patients at the first few facilities next month and expect to go live with all 40 Skilled Nursing Facilities by the end of March 2023.
Once all 40 facilities are live, the company anticipates onboarding more than 4,000 newly discharged patients every month going forward and expects to have more than 50,000 new patients onboarded by the end of 2023.
On September 27th, Bruce Campbell, President and Portfolio Manager of Stonecastle Investment Management was interviewed by Andrew Bell on Bloomberg and had this to say about Reliq Health.
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.
The 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 $0.59.
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
