HAMILTON, Ontario, March 16, 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 five new contracts with three primary care practices and two home health agencies in the US. The Company is also pleased to be expanding its mental health care capabilities beyond Behavioural Health Integration (BHI) to also support Collaborative Care Management (CoCM).
“We are pleased to be adding these five new clients,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “These providers will add over 2,000 new patients to our iUGO Care platform. The contracts include a one-time payment of $400,000 for hardware (medical monitoring devices) and are expected to generate an average recurring revenue of over $70 per patient per month. Onboarding is expected to begin next month. We are also excited to be expanding our support for mental health care by adding Collaborative Care Management (CoCM) to our platform. Our CoCM module allows primary care physicians and specialists to proactively care for patients with behavioural, mental health or psychiatric conditions including addiction. CoCM is an additional level of care that can be offered to patients who aren’t responding to Behavioural Health Integration services alone. The Centers for Medicare and Medicaid Services (CMS) reimburse clinicians an average of $230 per patient per month for CoCM services, in addition to any payments the provider is receiving from CMS for other virtual care services provided to the patient including Remote Patient Monitoring (RPM) and Chronic Care Management (CCM). CoCM therefore provides a new revenue stream for clinicians while improving care for patients with the most challenging mental health and addiction issues.”
Reliq Health
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:
Company Contact
Investor Relations at ir@reliqhealth.com
US Investor Relations Contact
Investor Relations
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
646-829-9701
shamsian@lythampartners.com
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Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Reliq Health Technologies Inc. (the "Company") does not intend and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: Reliq Health Technologies Inc.
