KindlyMD(TM) Announces Contract with United Healthcare Insurance, the Largest Health Insurer in the United States
Rhea-AI Summary
KindlyMD (NASDAQ:KDLY) has announced a contract with UnitedHealthcare Insurance Company, the largest health insurer in the United States. This agreement, effective November 1, 2024, will allow KindlyMD to serve UnitedHealthcare-insured patients and receive reimbursement for services. The contract expands KindlyMD's coverage and enables access to referrals from additional major hospitals and medical systems in Utah.
Tim Pickett, KindlyMD's founder and CEO, described this as a critical milestone for the company. With agreements now in place with Blue Cross Blue Shield, Medicare, Select Health, Medicaid, and UnitedHealthcare, KindlyMD can treat a larger patient population more frequently. The expanded insurance coverage is expected to lower patients' out-of-pocket expenses and drive revenue growth in core service lines.
Positive
- Contract with UnitedHealthcare, the largest health insurer in the US
- Expanded coverage and access to referrals from major hospitals and medical systems
- Potential for increased patient base and treatment frequency
- Expected lower out-of-pocket expenses for patients
- Anticipated revenue growth in core service lines
Negative
- None.
News Market Reaction – KDLY
On the day this news was published, KDLY declined 1.38%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Contract provides KindlyMD with expanded coverage and gives the Company access to receive referrals from additional major hospitals and medical systems
SALT LAKE CITY, UT / ACCESSWIRE / October 8, 2024 / KindlyMD, Inc. ("KindlyMD" or the "Company") (NASDAQ:KDLY), a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies, today announced it is now contracted with UnitedHealthcare Insurance Company, the largest healthcare insurance company in the United States.
On November 1, 2024, KindlyMD will begin serving patients insured with UnitedHealthcare and will be eligible to receive reimbursement for those services. This new contract with UnitedHealthcare Insurance will enhance and expand coverage access to patients referred by additional major hospitals and medical systems for KindlyMD in Utah.
"Credentialing with the nation's largest healthcare insurance provider marks a critical milestone for KindlyMD and our patients," said Tim Pickett, PA-C, KindlyMD founder and CEO, commented. "With agreements in place with Blue Cross Blue Shield, Medicare, Select Health, Medicaid and now UnitedHealthcare we will be able to treat a greater patient population with more frequency. With insurance coverage, patients' out-of-pocket expenses can be lower, driving revenue growth in our core service lines. This expanded coverage in Utah offers our company a huge opportunity for growth. We take pride in leading the way in innovative holistic healthcare."
About KindlyMD
KindlyMD™️ is a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies to offer patients comprehensive care and reduce the addiction and dependency of opioid use in the U.S. KindlyMD currently operates four centers including the largest alternative pain treatment center in Utah. With a focus on holistic pain management through its specialty outpatient clinical services, including, where appropriate, the recommendation of medical cannabis by KindlyMD healthcare providers, KindlyMD is providing better patient health outcomes.
For more information, please visit www.kindlymd.com.
Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as "should," "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including, but not limited to, the statements made under the heading "Risk Factors" in KindlyMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. KindlyMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
Investor Relations Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
(212) 896-1254
KindlyMD@KCSA.com
SOURCE: KindlyMD, Inc
View the original press release on accesswire.com
FAQ
When will KindlyMD (KDLY) start serving UnitedHealthcare-insured patients?
How does the UnitedHealthcare contract benefit KindlyMD (KDLY)?
What other insurance providers does KindlyMD (KDLY) have agreements with?
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