VANCOUVER, British Columbia, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCPink:RQHTF) (FSE:MHN2), a rapidly growing global telemedicine company developing innovative Virtual Care solutions for the multibillion-dollar Healthcare market, is capitalizing on recent changes to the Centers for Medicare and Medicaid Services billing schedules to add a significant number of new patients to its platform.

The new physician fee schedule that came into effect on January 1st, extends the services offered to patients with musculoskeletal or respiratory conditions by adding five new Remote Therapeutic Monitoring/Treatment Management codes that are now covered by CMS. Reliq Health has signed implementation plan arrangements with current clients and anticipates onboarding more than 10,000 new Remote Therapeutic Monitoring patients to its iUGO Care platform this year at an average revenue of US$40 per patient per month. Upon completion of the onboarding of these new clients, which will begin later this month, Reliq could be generating an additional revenue of CDN$6 million annually.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

InvestmentPitch Media Video Discusses Reliq Health’s Agreements to Add More than 10,000 Musculoskeletal and Respiratory Condition Patients to its Virtual Care Platform in 2022: Reliq Health Technologies to Add More than 10,000 Musculoskeletal and Respiratory Condition Patients to its Virtual Care Platform in 2022

For more information, please view the InvestmentPitch Media video which provides additional information about this news and the company, along with video comments from Reliq Health’s CEO, Dr. Lisa Crossley. The video is available for viewing on “InvestmentPitch.com” and on “YouTube”. If these links are not enabled, please visit www.InvestmentPitch.com and enter “Reliq” in the search box.

COVID-19, along with the growing number of aging baby boomers, have certainly accelerated the share of Medicare visits conducted through telehealth which grew from 840,000 in 2019 to 52.7 million in 2020, according to a December 2021 report from the US Department of Health & Human Services.

A recent study by McKinsey & Company confirms this trend, stating: “Up to US265 billion worth of care services for Medicare fee-for-service and Medicare Advantage patients could shift from traditional facilities to the home by 2025.”

Based in Hamilton, Ontario, with offices in Florida and Texas, Reliq specializes in developing innovative Virtual Care solutions for the multibillion-dollar healthcare market. The company’s powerful iUGO Care platform is a comprehensive SaaS solution that allows complex patients to receive high-quality care at home, improving health outcomes, enhancing the 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 emergency room visits.

The shares are trading at $1.13. For more information, please visit the company’s website, www.ReliqHealth.com or email [email protected]. 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 [email protected].

Disclaimer

The information in this Investmentpitch Media Ltd video is for the viewers information only. Reliq Health Technologies has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by Investmentpitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. Investmentpitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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