Reliq Health Technologies, Inc. Announces Agreements to Add over 10,000 Musculoskeletal and Respiratory Condition Patients in 2022

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) has signed implementation agreements expected to onboard over 10,000 new patients this year, leveraging new Medicare Remote Therapeutic Monitoring (RTM) billing codes. These codes, introduced on January 1, 2022, have expanded the eligible patient population by over 20 million, improving revenue opportunities for specialists. The average revenue per patient is estimated at $40 monthly. The company's iUGO Care platform aims to enhance virtual care, reducing hospitalization costs while improving patient outcomes.

Positive

• Onboarding over 10,000 new patients through implementation agreements.
• Expansion of eligible patient population by over 20 million due to new RTM codes.
• Estimated average revenue of $40 per patient per month.

Negative

• None.

HAMILTON, Ontario, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced that it has signed implementation plan agreements with current clients that are expected to add over 10,000 new patients to the platform this year, leveraging the new Medicare Remote Therapeutic Monitoring billing codes for patients with musculoskeletal or respiratory conditions.

“As previously disclosed, for 2022 the Centers for Medicare and Medicaid Services (CMS) have expanded their virtual care reimbursement programs to include Remote Therapeutic Monitoring (RTM),” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “Five new billing codes for RTM were introduced on January 1, 2022. This is consistent with the trend CMS has established over the past four years towards increased reimbursement for virtual care programs that can decrease healthcare costs by reducing hospitalizations and ER visits. Remote Therapeutic Monitoring allows clinicians to provide ongoing in-home treatment and monitoring for patients with musculoskeletal and respiratory conditions. RTM involves having patients use medical devices that collect non-physiological data such as therapy/medication adherence and therapy/medication response, and also allows for patient self-reporting of key metrics such as pain level, mobility, nighttime waking due to breathing difficulties, etc. The new RTM codes have increased the eligible patient population for our primary care clients by over 50% and allow orthopaedic and respiratory specialists to use Reliq’s iUGO Care platform to improve patient care and generate new revenue streams for their specialty practices. The new RTM codes have increased Reliq’s target patient population by over 20 million eligible patients. We expect to begin onboarding RTM patients with our existing clients later this month. Based on current implementation plans we expect to add a minimum of 10,000 new RTM patients this year through our current clients alone at an average revenue of $40 per patient per month.”

Reliq Health
Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing 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 ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.

ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director

For further information please contact:

Company Contact
Investor Relations at ir@reliqhealth.com

US Investor Relations Contact
Investor Relations
Lytham Partners, LLC
Ben Shamsian
New York | Phoenix
646-829-9701
shamsian@lythampartners.com

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Reliq Health Technologies Inc. (the "Company") does not intend and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company's historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.

SOURCE: Reliq Health Technologies Inc.