VANCOUVER, British Columbia, September 15, 2021 (GLOBE NEWSWIRE) – Reliq Health Technologies Inc. (TSXV: RHT) (OTCPink: RQHTF), a fast-growing global telemedicine company, continues to expand in Texas, with additional contracts for the provision of its proprietary iUGO Care platform. Through the partnership with Maxlink Health, the company will provide its services to three additional medical practices in Dallas, Texas.
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Maxlink Health (www.MaxlinkHealth.com), a tele-health and population management company, provides business process outsourcing services for effective care management and telemedicine solutions.
Maxlink Health uses its team of registered nurses and certified wellness professionals as part of its Care Team 365 RN program to track the daily health of its patients, as well as to track symptoms and possible side effects of medication. If problems are found, the GP will be notified to arrange a telephone consultation or visit if necessary.
Based in Hamilton, Ontario with offices in Florida and Texas, Reliq specializes in developing innovative virtual care solutions for the multi-billion dollar healthcare market. The company’s powerful iUGO Care technology platform is a comprehensive SaaS solution that enables patients with complex chronic conditions to receive high quality care at home or in another community setting, thereby improving health outcomes, the quality of life for patients and families the costs for the care service are improved and reduced. iUGO Care provides real-time access to remote patient monitoring data, enabling timely interventions by the care team to avoid costly hospital and emergency admissions.
Dr. Lisa Crossley, CEO, said, “We are excited to continue our expansion in the Dallas, TX area. Working with Maxlink Health has given us access to new customers in North Texas and we expect continued growth in this region. With these contracts, Reliq will provide our iUGO Care software platform for over 1,800 Medicare patients. Onboarding with these customers begins this month. Reliq expects an average of $ 40 per patient per month for these assignments. As previously announced, the company expects sales of approximately $ 2 million per month through December 2021. Reliq is growing organically and very quickly in response to strong market demand for our solutions. Since Medicare introduced its first remote patient monitoring billing code in 2018, the average reimbursement our customers can receive from the Centers for Medicare and Medicaid Services (CMS) has increased by over 500%, from $ 59 per patient per month over US $ 372 per patient per month. The number of eligible virtual care services clinicians can deliver to patients through our iUGO Care platform has also increased dramatically from 1 to 18, with additional billing codes being added in 2022, creating significant market appeal for our products and services. Using iUGO Care enables clinicians to provide high-quality virtual care to their at-risk patients, improve health outcomes, reduce hospital stays and lower health costs. “
The story goes on
Based on the strong organic growth, management is forecasting gross margins of more than 75% and EBITDA margins of more than 45% by the end of the calendar year 2021. The company does not expect to raise additional funding in the future to meet its revenue targets.
For more information, please visit the company’s website, www.ReliqHealth.com or email IR@ReliqHealth.com. Investor Relations in the United States is led 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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