InvestmentPitch Media Video Discusses Reliq Health’s Signing of New Contracts to Onboard More than 8,000 New Patients

Rhea-AI Summary

Reliq Health Technologies has secured contracts to onboard over 8,000 new patients, enhancing its telemedicine capabilities. These contracts involve three physician practices across Texas, California, and a health network in Nevada. The company's iUGO Care platform is expected to generate an average revenue exceeding $60 per patient per month, translating to an anticipated increase of over CDN$600,000 monthly. Reliq’s solutions aim to reduce healthcare costs significantly, improving patient care and financial performance.

Positive

• Onboarding of 8,000 new patients expected to generate CDN$600,000/month.
• Average revenue per patient projected at over $60/month at 75% gross margin.
• Increased demand for Reliq's Remote Patient Monitoring and Chronic Care Management solutions.

Negative

• None.

News Market Reaction – RQHTF

+4.23%

+4.23% Session move

In the trading session that priced this news, RQHTF gained 4.23%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

VANCOUVER, British Columbia., April 28, 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 new contracts to onboard more than 8,000 new patients. The company has signed four new US contracts with three individual physician practices in Texas and California and a health network in Nevada that includes 10 family physician practices.

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 “InvestmentPitch” or on “YouTube”.

Dr. Lisa Crossley, CEO, stated: “Market demand for Reliq’s Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Behavioural Health Integration (BHI) and additional specialized virtual care solutions is rapidly increasing as physicians and payors recognize the benefits of proactively managing at-risk patients in the home to prevent complications. Both the scope of the virtual care programs funded by the Centers for Medicare & Medicaid Services and the level of reimbursement have increased dramatically over the last several years. Our physician clients can now collect over $400 per patient per month in new, high profit revenue by deploying Reliq’s iUGO Care platform. Preventative care enabled by iUGO Care can help payors reduce the average cost of care per patient by over 80% by enabling early interventions by the patient’s primary care physician, preventing costly and disruptive hospitalizations and ER visits.”

Onboarding of both new clients and new patients continues to accelerate this quarter. The company expects to begin onboarding these 8,000 new patients next month, which are expected to generate an average revenue of more than $60 per patient per month at 75% gross margin. When the more than 8,000 new patients are fully onboarded and generating an average revenue of US$60 per patient per month, the company anticipates generating additional revenue of more than CDN$600,000 per month.

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.

The shares are trading at $0.72. 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.

Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. Reliq Health Technologies has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

About InvestmentPitch Media

InvestmentPitch Media leverages the power of video, which together with its extensive distribution, positions a company’s story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

CONTACT:
InvestmentPitch Media
Barry Morgan, CEO
bmorgan@investmentpitch.com

FAQ

What is the recent news about Reliq Health Technologies (RQHTF)?

Reliq Health Technologies has signed contracts to onboard over 8,000 new patients, increasing its telemedicine services.

How much revenue is Reliq Health expected to generate from new patients?

Reliq Health expects to generate more than CDN$600,000 per month from the new patients.

What is the average revenue per patient for Reliq Health (RQHTF)?

The company anticipates generating an average revenue of over $60 per patient per month.

Which states are involved in Reliq Health's new contracts?

The new contracts involve physician practices in Texas, California, and a health network in Nevada.

What technology does Reliq Health utilize for patient monitoring?

Reliq Health uses the iUGO Care platform for Remote Patient Monitoring and Chronic Care Management.