By Daniel Webster, dWeb.News Publisher
VANCOUVER, British Columbia, Sept. 15, 2021 (GLOBE NEWSWIRE) — Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (WKN:A2AJTB), a rapidly growing global telemedicine company, continues its expansion in Texas, with additional contracts to provide its proprietary iUGO Care platform. It will offer its services through its partnership with Maxlink Health to three additional Dallas-area physician practices.
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Maxlink Health (www.MaxlinkHealth.com), a Tele Healthcare and Population Management Company, provides Business Process Outsourcing services for effective Care Management and Telehealth Solutions.
Maxlink Health, through its Care Team 365 RN program, uses its team of registered nurses and certified wellness experts to track the daily health status of its patients in addition to tracking symptoms and potential side effects to medications. If there are any concerns, the primary doctor is notified and can schedule a visit or a phone consultation if necessary.
Based in Hamilton, Ontario with offices in Texas and Florida, Reliq is a specialist in creating innovative Virtual Care solutions in the multi-billion-dollar healthcare market. Reliq’s powerful iUGO Care technology platform, a SaaS solution, allows complex chronic diseases patients to receive high quality care at home or in a community setting. This improves health outcomes and enhances the quality of life for patients, families and caregivers. It also reduces the cost of care delivery. iUGO Care gives remote access to patient monitoring data. This allows for prompt interventions by the care team to avoid costly hospital readmissions or emergency room visits.
Dr. Lisa Crossley, CEO stated: “ We are excited to continue expanding in the Dallas, TX, area. Maxlink Health has allowed us to access new clients in North Texas, and we expect to continue to grow in this area. Through these contracts Reliq will be providing our iUGO Care software platform to over 1,800 Medicare patients. This month will see the start of onboarding for these clients. Reliq expects to receive an average of US$40 per patient per month for these deployments. As previously disclosed, the Company expects to achieve a revenue run rate of approximately $2 Million per month by the end of December 2021. Reliq’s growth is organic and rapid in response to the strong demand for its solutions. Since Medicare introduced its first billing code for Remote Patient Monitoring in 2018, the average reimbursement that our clients can receive from the Centers for Medicare and Medicaid Services (CMS) has increased by over 500%, from US$59 per patient per month to over US$372 per patient per month. The number of eligible virtual care services clinicians can provide to patients through our iUGO Care platform has also increased dramatically from 1 to 18 with additional billing codes to be added in 2022, creating significant market pull for our products and services. Using iUGO Care allows clinicians to provide high quality virtual care to their at-risk patients, improving health outcomes, reducing hospitalizations, and decreasing healthcare costs.”
Based on its strong organic growth, management is forecasting gross margins of more than 75% and EBITDA margins of more than 45% by the end of calendar year 2021. To achieve its revenue targets, the company doesn’t expect to raise additional funds.
For more information, please visit the company’s website, http://www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations in the United States is handled by Ben Shamsian of Lytham Partners, who can be reached at 649-829-9701 or by email at shamsian@LythamPartners.com.
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