Reliq Health Technologies Inc. Announces New Contracts with Three US Physician Practices, Expansion of Texas Medicaid Coverage

Rhea-AI Summary

Reliq Health Technologies Inc. (OTC:RQHTF) announced contracts with three new Texas physician practices for its iUGO Care platform, expected to onboard 1,500 patients at an average revenue of $60 USD monthly per patient. This follows new Texas Medicaid guidelines allowing broader reimbursement for remote patient monitoring of chronic conditions, enhancing demand for Reliq's services. The onboarding is set to begin this month and complete by the end of the quarter, as healthcare providers aim to manage chronic diseases proactively amid rising COVID-19 cases.

Positive

• Contracts signed with three Texas physician practices for iUGO Care platform.
• Expected onboarding of over 1,500 patients, generating revenue of $60 USD per patient per month.
• Increased demand for services due to expanded Texas Medicaid guidelines for remote patient monitoring.

Negative

• None.

HAMILTON, Ontario, Oct. 01, 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 signed contracts with three new primary care physician practices in Texas to provide its iUGO Care platform to their chronic disease patients.

“We are pleased to announce that we are adding three new physician practices in Texas to our iUGO Care platform,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies Inc. “These primary care physician practices will be using our iUGO Care Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Behavioural Health Integration (BHI) modules. We expect to onboard over 1,500 patients with these clients at an average revenue of $60 USD per patient per month. Onboarding with all three clients will begin this month and is expected to be completed later this quarter.”

“We have seen a significant increase in demand for our solutions in Texas in response to the new Texas Medicaid guidelines that took effect September 1, 2021,” continued Dr. Crossley. “Under the new guidelines, Texas Medicaid has expanded the clinical conditions eligible for remote patient monitoring reimbursement to include congestive heart failure, end-stage solid organ disease (heart, liver, kidney, lung, pancreas), organ transplant, and conditions requiring mechanical ventilation. While the federal Medicare program already included these conditions and several others, Texas Medicaid previously only provided coverage for remote monitoring of patients with hypertension and diabetes. The recent expansion of the Texas Medicaid remote patient monitoring program is consistent with the trends we’ve observed in the US healthcare market to increase both the reimbursement amounts available and the scope of virtual care programs aimed at chronic disease patients. As the coronavirus Delta variant continues to overwhelm US hospitals, community physicians are being urged to keep their chronic disease patients out of the ER and ICU by proactively managing their conditions using virtual care. There is a real sense of urgency among our clients to onboard their patients quickly to help keep them healthy and at home through what most healthcare professionals expect will be a very difficult fall and winter for hospitals due to the combined threat of the Delta variant and flu season. Using iUGO Care dramatically reduces the risk of hospitalization due to the complications typically seen in chronic disease patients, helping to keep these patients from adding to the strain on an already overburdened acute care system.”

Reliq Health

Reliq Health Technologies is a rapidly growing global telemedicine 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.

Cautionary Statements Regarding Forward Looking Information

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

What new contracts has Reliq Health Technologies signed in Texas?

Reliq Health Technologies has signed contracts with three new primary care physician practices in Texas to provide its iUGO Care platform.

How many patients are expected to be onboarded with the new Texas contracts?

Reliq Health expects to onboard over 1,500 patients with the new contracts.

What is the average revenue per patient for Reliq's iUGO Care platform?

The average revenue per patient for the iUGO Care platform is $60 USD per month.

How have Texas Medicaid guidelines changed to benefit Reliq Health Technologies?

Texas Medicaid expanded reimbursement for remote patient monitoring to include additional chronic conditions, enhancing demand for Reliq's services.

When is the onboarding of patients expected to be completed?

Onboarding with the new clients is expected to be completed later this quarter.