HAMILTON, Ontario, April 21, 2022 (GLOBE NEWSWIRE) — 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, today announced that it has signed new contracts with two physician practices, a hospital and a Skilled Nursing Facility in California, Texas and Nevada.
“We are excited to be adding our first hospital client to the iUGO Care platform,” said Dr. Lisa Crossley, CEO at Reliq Health Technologies, Inc. “Both the Skilled Nursing Facility and the hospital will be using the iUGO Care Transitional Care Management (TCM) module along with Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioral Health Integration (BHI) to improve health outcomes for patients who are transitioning from an inpatient facility to the community. Transitional Care Management helps ensure continuity of care for patients post-discharge, preventing complications that lead to readmissions. Under the Centers for Medicare & Medicaid Services (CMS) Value-Based programs, hospitals and SNFs are assessed penalties for high rates of readmissions and can earn bonuses for low rates of readmission. According to data published by CMS, in FY2021 over 70% of SNFs and over 80% of all hospitals governed by CMS Value-Based programs were assessed penalties due to excessive readmissions. Preventing readmissions not only provides financial benefits to these inpatient facilities but also improves quality of life and long-term health outcomes for patients. The hospital and SNF patients will be onboarded on a rolling basis beginning next month with over 1,000 patients expected to be added to the platform in 2022. These patients are expected to generate recurring software and professional services of $50 per patient per month at 75% gross margin. The physician practices are expected to onboard over 1,500 patients in 2022, beginning in June. These patients are expected to generate an average revenue of $65 per patient per month at 75% gross margin.”
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 WKN as A2AJTB.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
For further information please contact:
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Lytham Partners, LLC
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SOURCE: Reliq Health Technologies Inc.