InvestmentPitch Media Video Discusses Reliq Health’s Signing of 5 New Contracts with 3 Primary Care Practices and 2 Home Health Agencies in the US.
Rhea-AI Summary
Reliq Health Technologies Inc. (OTCPink:RQHTF) has announced five new contracts with three primary care practices and two home health agencies in the U.S., enhancing its telemedicine services. The company is expanding its mental health care capabilities to include Collaborative Care Management (CoCM), which can generate additional revenue for clinicians. The contracts will bring over 2,000 new patients to Reliq's iUGO Care platform, with a potential revenue of over CDN$180,000 monthly when fully onboarded. The contracts include a one-time payment of $400,000 for medical monitoring device hardware.
Positive
- Signed five new contracts, expanding client base.
- Expansion of mental health services to include CoCM.
- Potential revenue of over CDN$180,000 per month from new patients.
- One-time payment of $400,000 for medical monitoring device hardware.
Negative
- None.
News Market Reaction – RQHTF
In the trading session that priced this news, RQHTF gained 0.86%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, has signed five new contracts with three primary care practices and two home health agencies in the US. The company is also expanding its mental health care capabilities beyond Behavioural Health Integration (BHI) to also support Collaborative Care Management (CoCM).
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company. The video is available for viewing on “InvestmentPitch.com” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Reliq” in the search box.
Dr. Lisa Crossley, CEO, stated: “We are pleased to be adding these five new clients. 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
According to the American Psychiatric Association, under Collaborative Care Management, primary care and behavioral health providers collaborate using shared care plans to deliver both physical and mental health care, effectively reducing duplicate assessments. This effective and efficient integration of services has proven to be successful in terms of controlling costs, improving access, improving clinical outcomes, reducing the stigma related to mental health, and increasing patient satisfaction.
These new providers will add more than 2,000 new patients to the company’s iUGO Care platform, with onboarding expected to begin next month. The contracts include a one-time payment of
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 patients to receive high-quality care at home, 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.
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Disclaimer
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