KindlyMD(TM) Announces Contract with United Healthcare Insurance, the Largest Health Insurer in the United States
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.
KindlyMD (NASDAQ:KDLY) ha annunciato un contratto con UnitedHealthcare Insurance Company, il maggiore assicuratore sanitario negli Stati Uniti. Questo accordo, efficace a partire dal 1 novembre 2024, consentirà a KindlyMD di assistere i pazienti assicurati da UnitedHealthcare e di ricevere rimborsi per i servizi. Il contratto amplia la copertura di KindlyMD e permette l'accesso a referenze da ulteriori grandi ospedali e sistemi medici in Utah.
Tim Pickett, fondatore e CEO di KindlyMD, ha descritto questo come un traguardo fondamentale per l'azienda. Con accordi ora in atto con Blue Cross Blue Shield, Medicare, Select Health, Medicaid e UnitedHealthcare, KindlyMD può trattare una popolazione di pazienti più ampia e con maggiore frequenza. Si prevede che l’ampliamento della copertura assicurativa ridurrà le spese di tasca dei pazienti e favorirà la crescita dei ricavi nelle linee di servizio principali.
KindlyMD (NASDAQ:KDLY) ha anunciado un contrato con UnitedHealthcare Insurance Company, la aseguradora de salud más grande de los Estados Unidos. Este acuerdo, que entrará en vigor el 1 de noviembre de 2024, permitirá a KindlyMD atender a los pacientes asegurados por UnitedHealthcare y recibir reembolsos por los servicios prestados. El contrato amplía la cobertura de KindlyMD y facilita el acceso a referencias de importantes hospitales y sistemas médicos adicionales en Utah.
Tim Pickett, fundador y CEO de KindlyMD, describió esto como un hito crítico para la empresa. Con acuerdos ahora establecidos con Blue Cross Blue Shield, Medicare, Select Health, Medicaid y UnitedHealthcare, KindlyMD puede tratar a una población de pacientes más amplia con mayor frecuencia. Se espera que la ampliación de la cobertura de seguros reduzca los gastos de los pacientes y aumente el crecimiento de los ingresos en las líneas de servicio centrales.
KindlyMD (NASDAQ:KDLY)는 미국 최대의 건강 보험사인 UnitedHealthcare Insurance Company와 계약을 체결했다고 발표했습니다. 이 계약은 2024년 11월 1일에 발효되며, KindlyMD는 UnitedHealthcare 보험에 가입한 환자를 치료하고 서비스에 대한 보상을 받을 수 있게 됩니다. 이 계약을 통해 KindlyMD의 보장이 확대되고 유타주 내 추가 주요 병원 및 의료 시스템으로부터의 소개를 받을 수 있게 됩니다.
KindlyMD의 창립자이자 CEO인 Tim Pickett는 이것을 회사의 중대한 이정표로 설명했습니다. Blue Cross Blue Shield, Medicare, Select Health, Medicaid 및 UnitedHealthcare와의 계약이 체결됨에 따라 KindlyMD는 더 많은 환자를 보다 자주 치료할 수 있게 되었습니다. 확대된 보험 보장은 환자의 자비 부담을 줄이고 핵심 서비스 라인에서 수익 성장을 촉진할 것으로 예상됩니다.
KindlyMD (NASDAQ:KDLY) a annoncé un contrat avec UnitedHealthcare Insurance Company, le plus grand assureur santé aux États-Unis. Cet accord, qui entrera en vigueur le 1er novembre 2024, permettra à KindlyMD de soigner les patients assurés par UnitedHealthcare et de recevoir un remboursement pour les services. Le contrat élargit la couverture de KindlyMD et permet l'accès à des références provenant d'hôpitaux majeurs et de systèmes médicaux supplémentaires dans l'Utah.
Tim Pickett, fondateur et PDG de KindlyMD, a décrit cela comme un jalon critique pour l'entreprise. Avec des accords désormais en place avec Blue Cross Blue Shield, Medicare, Select Health, Medicaid et UnitedHealthcare, KindlyMD peut traiter une population de patients plus large plus fréquemment. L'expansion de la couverture d'assurance devrait réduire les dépenses des patients et favoriser la croissance des revenus dans les secteurs de services principaux.
KindlyMD (NASDAQ:KDLY) hat einen Vertrag mit der UnitedHealthcare Insurance Company bekannt gegeben, dem größten Krankenversicherer in den Vereinigten Staaten. Diese Vereinbarung, die am 1. November 2024 in Kraft tritt, ermöglicht es KindlyMD, Patienten mit UnitedHealthcare-Versicherung zu betreuen und eine Erstattung für Dienstleistungen zu erhalten. Der Vertrag erweitert die Abdeckung von KindlyMD und ermöglicht den Zugang zu Überweisungen von zusätzlichen großen Krankenhäusern und medizinischen Systemen in Utah.
Tim Pickett, Gründer und CEO von KindlyMD, bezeichnete dies als kritischen Meilenstein für das Unternehmen. Mit jetzt bestehenden Vereinbarungen mit Blue Cross Blue Shield, Medicare, Select Health, Medicaid und UnitedHealthcare kann KindlyMD eine größere Patientenzahl häufiger behandeln. Die erweiterte Krankenversicherung wird voraussichtlich die Eigenanteile der Patienten senken und das Umsatzwachstum in den Kernservicebereichen vorantreiben.
- 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
- None.
Insights
This contract with UnitedHealthcare marks a significant expansion for KindlyMD, potentially boosting patient volume and revenue. As the largest health insurer in the U.S., UnitedHealthcare's network opens doors to a vast patient base. This move aligns with the industry trend of integrating alternative therapies into mainstream healthcare.
Key points to consider:
- Expanded patient access could drive revenue growth in core service lines
- Lower out-of-pocket costs for patients may increase demand for KindlyMD's services
- Eligibility for referrals from major hospitals and medical systems could lead to accelerated growth
- The contract enhances KindlyMD's competitive position in the Utah market
While promising, investors should monitor the impact on profit margins, as insurance reimbursements may be lower than direct patient payments. The company's ability to scale operations efficiently will be important to capitalize on this opportunity.
This development is likely to have a positive impact on KindlyMD's financial performance. Key financial implications include:
- Revenue Growth Potential: Access to UnitedHealthcare's large customer base could significantly increase patient volume and revenue
- Market Expansion: Enhanced coverage in Utah provides a platform for regional growth
- Diversified Payer Mix: Adding UnitedHealthcare to existing contracts with BCBS, Medicare and Medicaid reduces dependence on any single payer
- Cash Flow Improvement: Insurance coverage may lead to more consistent and predictable cash flows
However, investors should consider potential challenges such as increased administrative costs and the need for efficient scaling to maintain profitability. The company's ability to negotiate favorable reimbursement rates will be important for long-term financial success. Overall, this contract positions KindlyMD for potential accelerated growth in a competitive healthcare market.
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
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