Reliq Health Technologies, Inc. Announces New Contracts in Texas, California and Puerto Rico; Increased CMS Reimbursement Amounts

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) announced new contracts with five physician practices across Texas, Puerto Rico, and California, expected to add over 3,000 patients to its platform by the end of Q2 2022. The average revenue per patient is projected to exceed $60 USD per month. Enhanced reimbursement rates from CMS, effective January 1, 2022, include an 8% increase for existing services and new billing codes for Remote Therapeutic Monitoring. This reflects growing market demand for Reliq's iUGO Care platform, aimed at improving patient outcomes and reducing healthcare costs.

Positive

• New contracts signed with five physician practices, adding over 3,000 patients.
• Average revenue expected to exceed $60 USD per patient per month.
• CMS increased reimbursement rates for key healthcare services by over 8%.
• Introduction of five new billing codes for Remote Therapeutic Monitoring.

Negative

• None.

HAMILTON, Ontario, Jan. 18, 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 new contracts with five physician practices in Texas, Puerto Rico and California.

“We are pleased to be adding these five practices to our platform,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “These new clients include primary care, internal medicine, nephrology and orthopedic practices. These contracts will add over 3,000 patients to our platform by the end of Q2 at an average revenue of over $60 USD per patient per month. The Centers for Medicare & Medicaid Services (CMS) have increased reimbursement amounts by over 8% relative to 2021 for existing covered services including Remote Patient Monitoring (RPM), Chronic Care Management (CCM), Behavioural Health Integration (BHI) and Transitional Care Management (TCM). Effective January 1^st, 2022, CMS has also introduced five new billing codes for Remote Therapeutic Monitoring (RTM), which allows for monitoring of both physiologic and non-physiologic data (e.g. medication adherence) for patients who have musculoskeletal conditions or asthma. These increased financial incentives clearly demonstrate CMS’s commitment to funding proactive, preventative healthcare programs aimed at preventing complications and hospitalizations in patients with chronic conditions, improving health outcomes and reducing healthcare costs. Market demand for Reliq’s products continues to grow as more clinicians recognize the benefits of iUGO Care for both their patients and their practices.”

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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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.