Ethema's ARIA Treatment Center Receives Rate Increases
Ethema Health Corporation (OTCPINK: GRST) announced a contract amendment with New Directions Behavioral Health, effective April 10, 2022, increasing rates by 6% to 17% due to rising healthcare costs. This is significant as approximately 97% of Ethema's revenue is billed to New Directions, which manages behavioral health benefits for major insurers such as Blue Cross. CEO Shawn Leon expressed satisfaction with the contract's adjustments, highlighting the importance of maintaining quality service amidst increasing operational costs.
- Contract amendment with New Directions results in a revenue increase of 6% to 17%, positively impacting Ethema's financial health.
- 97% of the company's revenue is associated with New Directions, indicating strong reliance on this contract.
- None.
West Palm Beach, FL, March 02, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Ethema Health Corporation (OTCPINK: GRST) (“Ethema” “GRST” or the “Company”): On March 1, 2022 the Company received its signed contract amendment from New Directions Behavioral Health, LLC (“New Directions”) providing for increases to the contracted amounts between New Direction and the Company.
The increases were granted due to the rising cost of healthcare workers and elemental costs of the program such as food and transportation. The increases were between 6 and 17 percent on the various levels of care the Company bills out. This is significant since the Company bills approximately
Mr. Shawn Leon, Company CEO, reported, “We are very pleased with the response from New Directions and recognizing the rising costs in the marketplace. These increases will ensure that we can continue to offer quality service to the clients we serve.”
About Ethema Health Corporation
Ethema Health Corporation (OTCPINK: GRST) operates in the behavioral healthcare space specifically in the treatment of substance use disorders. Ethema developed a unique style of treatment over the last decade and has had much success with in-patient treatment for adults. Ethema will continue to develop world class programs and techniques for North America. For more information you can visit our website at www.ethemahealth.com .
Notice Regarding Forward-Looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For information please contact:
Ethema Health Corporation
shawn@ethemahealth.com
Text to 416-500-0020
Twitter @healthethema
FAQ
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