Reliq Health Technologies, Inc. Announces Implementation of FHIR Standard for Interoperability to Address New CMS Regulations, Hires New Chief Technology & Innovation Officer
Reliq Health Technologies Inc. (OTC:RQHTF) has adopted the FHIR standard for its iUGO Care platform, enhancing interoperability for large-scale enterprise clients, including managed care plans. This move aligns with new CMS regulations aimed at improving healthcare data exchange. The company has also appointed Dave McKay as the new Chief Technology & Innovation Officer, bringing over 30 years of experience in healthcare technology. The previously held positions of Chief Technology Officer and Chief Innovation Officer have been eliminated, streamlining leadership as Reliq targets market expansion in 2021.
- Adoption of FHIR standard opens new market opportunities for Reliq, enhancing interoperability for enterprise clients.
- Appointment of experienced Dave McKay as Chief Technology & Innovation Officer may strengthen product development.
- Elimination of two senior leadership positions could raise concerns about continuity and potential experience gaps in technology and innovation.
HAMILTON, Ontario, April 28, 2021 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global telemedicine company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced that it has adopted the FHIR (Fast Healthcare Interoperability Resources) standard for its iUGO Care platform to meet the needs of large-scale enterprise clients such as managed care plans and other payers, who must comply with new CMS regulations for interoperability.
“Incorporating the FHIR standard into our platform allows Reliq to offer current and prospective clients cutting edge interoperability capabilities,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “In December 2020 the US Centers for Medicare and Medicaid Services (CMS) introduced the CMS Interoperability and Prior Authorization Proposed Rule, which would require CMS-regulated payers to adopt the FHIR standard. FHIR is essentially a standardized framework for healthcare data exchange which CMS has adopted in order to improve communication between diverse healthcare information systems, and to streamline Prior Authorization processes to ensure in advance that patients are eligible (and providers will therefore be reimbursed) for any services to be provided. This proposed rule builds on the existing CMS Interoperability and Patient Access Final Rule, which will be enforced by CMS as of July 1, 2021. Under these new interoperability standards, Medicare Advantage (MA) plans, Medicaid and Children's Health Insurance Program (CHIP) managed plans, State Medicaid and Qualified Health Plans (QHP) are required to use the FHIR standard to enable seamless data exchange between providers, payers and patients. Our new patient portal leverages the FHIR standard to provide patients on the iUGO Care platform with secure, seamless access to their healthcare data in accordance with the new regulations. Implementing FHIR significantly expands the Company’s total addressable market, allowing Reliq to work directly with large-scale enterprise clients such as managed care plans, private insurers and other payers as well as healthcare providers.”
The Company also announced that it has hired Dave McKay in the newly created position of Chief Technology & Innovation Officer. Mr. McKay has over 30 years of experience in Software Development and brings significant expertise in healthcare technology, cybersecurity, privacy and product innovation to Reliq. His experience in developing enterprise-level solutions for the healthcare market will be invaluable to the Company as it executes on its strategy to rapidly scale its business over the remainder of 2021 and beyond. The Company would also like to announce that it has eliminated the positions of Chief Technology Officer and Chief Innovation Officer, previously held by Rob Prouse and Bassma Ghali, respectively, and wishes to thank both Mr. Prouse and Dr. Ghali for their contributions to date. Mr. McKay will assume the responsibilities previously associated with these two roles.
Reliq Health
Reliq Health Technologies is a rapidly growing global telemedicine 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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Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
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.
FAQ
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