Reliq Health Technologies, Inc. Announces Three New Contracts with Physician Practices in Dallas, TX
HAMILTON, Ontario, Sept. 14, 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 through its partnership with Maxlink Health it has signed new contracts to provide its iUGO Care platform to three physician practices in Dallas, TX.
“We are excited to continue our expansion in the Dallas, TX area,” said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. “Working with Maxlink Health has given us access to new clients in North Texas and we expect to see continued growth in this region. Through these contracts Reliq will be providing our iUGO Care software platform to over 1,800 Medicare patients. Onboarding with these clients will start this month. Reliq expects to receive an average of $40 USD 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,” continued Dr. Crossley. “Reliq is growing organically and very rapidly in response to strong market demand for our solutions. Since Medicare introduced its first billing code for Remote Patient Monitoring (RPM) 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 $59 USD per patient per month to over $372 USD 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. With our strong organic growth and forecasted gross margins of over 75% and EBITDA margins of over 45% by the end of calendar year 2021, we do not expect to need to raise additional funds going forward to achieve our revenue targets.”
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SOURCE: Reliq Health Technologies Inc.
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