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Reliq Health, a rapidly growing global telemedicine company, has signed contracts with 6 US primary care physician practices to provide its iUGO Care platform to their chronic disease patients

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Reliq Health’s powerful iUGO Care technology platform is a comprehensive SaaS solution that allows complex chronic disease patients to receive high-quality care in the home or other community-based setting thereby improving health outcomes, enhancing the quality of life for patients and families, and reducing the cost of care delivery.

Additional Information:

Company: Reliq Health Technologies Inc.
Website: http://www.ReliqHealth.com
Stock Symbol: TSXV: RHT
Date Published: Aug 5, 2021
Transcript: Available

Video Transcript:

I’m Katriina Cotten for Investmentpitch Media

Reliq Health Technologies Inc., a rapidly growing global telemedicine company, has signed contracts with six new US primary care physician practices to provide its iUGO Care platform to their chronic disease patients.

Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions which target the greater than $100 billion virtual care/chronic disease management market.

The company’s powerful iUGO Care technology platform is a comprehensive SaaS solution that allows complex chronic disease patients to receive high-quality care in the home or other community-based setting thereby 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.

Dr. Lisa Crossley, CEO, stated: “We are pleased to announce that we are adding six new US physician practices and over 4,000 new patients to our iUGO Care platform. These primary care physician practices will be using our iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. The average revenue from these contracts will be >$40 USD per patient per month. Onboarding with all six clients will begin this month and is expected to be completed in October. New client acquisition and patient onboarding has been accelerating significantly through July and we expect to continue to experience rapid growth in the business through the remainder of the year, and for the foreseeable future beyond 2021. The current quarter will be Reliq’s first full profitable quarter, which is a major milestone for the company.”

Customer demand for the company’s platform continues to accelerate in response to the Centers for Medicare & Medicaid Services or CMS’s continued expansion of coverage and reimbursement amounts for virtual care services.

In its recently released proposed 2022 Physician Fee Schedule, CMS introduced 5 new billing codes for an expanded form of Remote Patient Monitoring called Remote Therapeutic Monitoring.

These new codes provide more opportunities for healthcare providers using iUGO Care to receive reimbursement for remotely monitoring their patients, while allowing physical therapists and nurses to bill for virtual care services that were previously only reimbursable for physicians.

These Remote Therapeutic Monitoring codes expand coverage beyond the currently eligible chronic conditions such as hypertension, diabetes, congestive heart failure, COPD and kidney disease, where in the US it is estimated that 37 million Medicare/Medicaid patients have 2 or more chronic conditions.

It will now include respiratory system status, musculoskeletal system status, therapy adherence and therapy response, thereby significantly expanding the number of potential clients for Reliq as well as the size of the eligible patient population.

The shares are trading at $0.71.

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

I’m Katriina Cotten for Investmentpitch Media