Reliq Health Technologies, Inc. Announces Expansion of Mental Health Services
HAMILTON, Ontario, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, is pleased to announce that it has expanded its mental health services portfolio and expects to add 10,000 new mental health patients to its platform in 2024.
“We are very pleased to be adding cognitive assessments to our portfolio of mental health services,” said Chris Shields, CEO at Reliq Health Technologies, Inc. “Many of our existing and potential clients have requested that Reliq offer additional products and services in the mental healthcare area, particularly for patients in Skilled Nursing and Assisted Living Facilities. Providing cognitive assessments to our patient populations, will allow clinicians to identify patients with previously undiagnosed mental health needs. Cognitive assessments are typically performed twice a year and are billed to CMS under a unique billing code. It is estimated that 1 in 4 Medicare recipients have a mental health condition but up to half of those patients are not currently receiving treatment. Our clients are committed to providing comprehensive care to their patients to achieve both physical and mental wellness. Medicare has increased the reimbursement rate for Behavioral Health Integration (BHI) by 25% in 2024 as part of their ongoing commitment to improving mental health in at-risk patient populations. The Company will initially roll out its expanded mental health services to existing Skilled Nursing and Assisted Living Facilities as well as Alzheimer and Dementia Care (Memory Care) Facilities. The Company expects to add over 10,000 additional mental health patients in 2024 at an average of $48 per patient per month with an expected 70% gross margin. The strong customer/patient demand for the expansion of our mental health care services further demonstrates our existing clients’ high levels of satisfaction with the usability and efficacy of our products, and with the resulting cost savings and new anticipated revenue streams.”
About Reliq Health
Reliq Health Technologies is a growing global healthcare technology company 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 Frankfurt Stock Exchange under the WKN: A2AJTB.
ON BEHALF OF THE BOARD
“Chris Shields”
Interim CEO
For further information please contact:
Company Contact
Investor Relations at
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.
