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Reliq Health signs contracts with three new clients in California, including a hospice care organization, a home health agency network and a care management network

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Reliq Healths’ management expects to generate more than US$65 per patient per month through these contracts, with onboarding for the first two physician practices expected to begin next month.

Additional Information:

Company: Reliq Health Technologies Inc.
Website: http://www.ReliqHealth.com
Stock Symbol: TSXV: RHT
Date Published: Nov 16, 2021
Transcript: Available

Video Transcript:

I’m Ebony North for Investmentpitch Media

Reliq Health Technologies Inc., a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market, signs contracts with three new clients in California.

These new clients include a hospice care organization, a home health agency network and a care management network.

Dr. Lisa Crossley, CEO, stated: “We are very excited to be expanding our business in California. These three healthcare organizations together have over 200 physician practices and over 50,000 eligible Medicare patients throughout the state. California has the largest number of Medicare beneficiaries of any state, with over 4.5 million Medicare-enrolled residents. As the population ages, the percentage of Californians covered by Medicare will continue to rise faster than the national average. Over 79% of Medicare patients in California or over 3.5 million individuals have two or more chronic conditions. Medicare reimbursement in California is among the highest in the US, and physician practices in California can receive more than $400 per patient per month from the Centers for Medicare & Medicaid Services (CMS) for services provided using Reliq’s iUGO Care platform.”

Management expects to generate more than US$65 per patient per month through these contracts, with onboarding for the first two physician practices expected to begin next month.

A typical physician practice can bring in more than $1 million in new payments from the Centers for Medicare & Medicaid Services at profit margins of more than 75% by implementing iUGO Care.

Proactive, preventative virtual care has the potential to save the Centers for Medicare & Medicaid Services tens of billions of dollars a year, making iUGO Care a win for every constituent in the healthcare system – patients, clinicians and payors.

According to Statista, a leading provider of market and consumer data, home healthcare spending in the US alone, by Medicare and Medicaid exceeded US$80 billion in 2019 and has been growing at approximately 10% annually.

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 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.

The shares are trading at $1.15.

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 Ebony North for Investmentpitch Media

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