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Reliq Health Technologies has signed new contracts with 20 Skilled Nursing Facilities (SNFs), 10 physician practices, and 2 home care agencies in California, Florida, Nevada, and Texas. These contracts are expected to add over 30,000 new patients to Reliq's iUGO Care platform by the end of June 2024, with an average revenue of $65 per patient per month.
The new clients will use iUGO Care's Remote Patient Monitoring (RPM), Chronic Care Management (CCM), and Behavioural Health Integration (BHI) modules. SNFs will also use the Transitional Care Management (TCM) module. Onboarding will begin next month, ramping up to an average of 2,500 new patients per month in 2024.
Reliq expects a 75% gross margin from these contracts. The company has already documented >70% adherence in existing post-discharge SNF patients, with expectations for improvement over time.
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