Company Generates Initial Revenues in Q4
Culver City, CA, Nov. 25, 2019 (GLOBE NEWSWIRE) -- eWellness Healthcare Corporation – (EWLL:OTCQB) (“Company”)– a provider of the state of the art PHZIO platform for the physical therapy (“PT”) and telehealth markets, announced today a shareholder update to highlight the Company’s current revenue outlook and operational developments.
eWellness’ CEO, Darwin Fogt, stated, “We are pleased to achieve a critical inflection point in our growth strategy with the realization of revenues. With our expanding variety of partnership agreements, we believe we will catalyze a robust revenue model in the new year which supports our commitment to building long-term shareholder value.”
Operational Developments
The Company added three individual professional operating companies in California, New Jersey and Florida. With its Florida Professional Association (PA), the Company is now able to provision telehealth services in 46 states. Each professional company has executed a revocable operating agreement with the Company. These agreements are required by each individual state and stipulate that Darwin Fogt, MPT, the Company’s CEO, is the sole shareholder, officer and director of each of the operating companies.
eWellness is the first physical therapy telehealth company to offer real-time distance monitored assessments and treatments utilizing its PHZIO and MSK 360 platforms as a fully PT monitored corporate musculoskeletal treatment (“MSK”) and wellness program. The Company’s PHZIO and MSK360 home physical therapy assessment and exercise platform has been designed to disrupt the $30 billion physical therapy market, the $4 billion MSK market and the $8 billion corporate wellness industry.
Revenue Model
The Company has signed 7 partnership and healthcare provider agreements to date, each are anticipated generate revenue during the fourth quarter of 2019. Key highlights are provided below along with a summary of the Company’s current digital treatment products.
| - | As recently announced, the Company’s PHZIO.com digital treatment platform gained traction with referred third party insurance administrators (“TPA”) patients to commence revenue generation. |
| - | In June the Company signed a Provider Service Agreement with one of the largest Third-Party Insurance Administrators in the U.S. with patients in all 50 states. Initially, PHZIO will be used to treat patients in five (5) states including: California, New Jersey, Georgia, Tennessee and Arizona. These initial states will be used to assess the effectiveness of the PHZIO digital physical therapy platform. |
| - | On October 11, 2019 the Company signed a Direct to Consumer Marketing Agreement with Wosler Holdings, Inc., a Delaware Corporation d/b/a/ Slingshot Health (“Slingshot”). Through this agreement, Slingshot seeks to engage EWLL affiliated PT Providers, and EWLL seeks to gain their affiliated PT Providers access to the Slingshot consumer healthcare patients through the Slingshot platform. The Parties anticipate commencing these new direct to consumer sales and marketing efforts during the fourth quarter of 2019. |
| - | On October 22, 2019, EWLL’s PHZIO Canada (“PHZIO Canada”) signed a one-year Pilot Program Agreement with C&C Insurance Consultants d/b/a/ StudentVIP.ca (“StudentVIP.ca”). Through this agreement StudentVIP.ca seeks to market PHZIO.com services to its student health insurance clients. StudentVIP.ca is one of Canada’s largest student health insurance provider servicing over 100,000 college students. The Parties anticipate commencing these new direct to consumer sales and marketing efforts during the fourth quarter of 2019. |
The Company’s current digital treatment products include:
PrehabPT. Any individuals, who are seeking non-emergency orthopedic surgery, shall first receive a concierge online consultation, in-home or in-office PT therapy evaluation and will be prescribed a four to eight-week exercise program prior to any surgery. Another in-home or in-office PT evaluation will be made following surgery and a treatment plan will be initiated. PrehabPT is up to an eight-week physician to patient pre-surgical (Prehab) digital therapeutic exercise treatment system for patients that anticipate having total join replacement (knee, hip and or shoulder) or back surgeries.
PurePT. PurePT is a patient and independent PT digital treatment platform for connecting new patients to PT’s that are seeking to be treated with our PHZIO treatment system. Patient program assessments can be made in the privacy of a patient’s home or office. PurePT connects new patients to PT’s, particularly in states that have direct access rules where patient’s insurance will reimburse for treatment without requiring a physician’s prescription. PurePT puts the patient first.
MSK360. MSK 360 is a Comprehensive Wellness Program which includes an online PHZIOFIT fitness assessment which evaluates risk profiles and return to work readiness. Employees may also enroll in a 6-month comprehensive wellness program. The top line wellness goals of our MSK 360 wellness exercise program is to graduate at least 60% of inducted patients through our 6-month program.
EWLL is developing a new Rheumatoid Arthritis Treatment Platform called RA360. The new platform is anticipated to be available in Q-1, 2020. Rheumatoid Arthritis and related autoimmune disorders are the leading cause of illness and disability in the US.
About Slingshot Health
Slingshot Health is a healthcare marketplace connecting people to health and wellness providers, placing control directly in the hands of those seeking and delivering care. By removing layers of bureaucracy surrounding our healthcare system, Slingshot is achieving its mission of creating better access, more affordability and greater transparency in healthcare. Through Slingshot’s proprietary platform, consumers enter the services they want, their location, availability and the price they are willing to pay. Slingshot then matches them to a local provider who can deliver the service. Healthcare consumers receive high-quality, affordable services and providers earn more overall.
About StudentVIP
Established in 1985, StudentVIP is the longest active health and dental provider in Canada. StudentVIP custom-builds programs and coverages for the modern-day student who demands constant and instant access, first-rate security, an intuitive interface and peace of mind. For more information: www.StudentVIP.ca
About eWellness
eWellness Healthcare Corporation (OTCQB: EWLL) is the first physical therapy telehealth company to offer real-time distance monitored assessments and treatments. Our business model is to have large-scale employers use our MSK 360 and or PHZIO platform as a fully PT monitored corporate MSK wellness program. The Company’s MSK 360 and PHZIO home physical therapy assessment and exercise platform has been designed to disrupt the $30 billion physical therapy market, the $4 billion MSK market and the $8 billion corporate wellness industry. PHZIO re-defines the way MSK physical therapy can be delivered. PHZIO is the first real-time remote monitored 1-to-many MSK physical therapy platform for home use.
For more information on eWellness go to:
http://www.ewellnesshealth.com/
http://phzio.com/
Safe Harbor Statement
This news release includes certain information that may constitute forward-looking statements. Forward-looking statements are typically identified by terminology such as “could,” “may,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “proposed,” “planned,” “potential” and similar expressions, or are those, which, by their nature, refer to future events. All statements, other than statements of historical fact, included herein, including statements about eWellness’ beliefs and expectations, are forward-looking statements. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Although eWellness believes that such statements are reasonable, it can give no assurance that such forward-looking information will prove to be accurate. eWellness cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors. Accordingly, due to the risks, uncertainties and assumptions inherent in forward-looking information, readers and prospective investors in the Company’s securities should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof and is subject to change. The Company assumes no obligation to revise or update forward-looking information to reflect new circumstances, whether as a result of new information, future events or otherwise, except as required by law.
For additional information on eWellness Healthcare Corporation and its PHZIO telehealth products please contact Mr. Darwin Fogt, CEO: 1-855-470-1700