Reliq Health Technologies, Inc. Provides Corporate Update
HAMILTON, Ontario, June 27, 2019 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTCQB:RQHTF) (“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare is pleased to provide the following corporate update.
As previously announced, Reliq will be hosting a webinar today, June 27th at 12:00pm EST at . For those who are not able to attend the webinar, a recording of the webinar will be available on the Company’s website immediately following the session. A written summary of the material updates to be presented in the webinar is also provided below.
Agenda for Webinar
1.Review of recent organizational and operational changes
2.Discussion of recent changes to Medicare and Medicaid billing codes
3.Overview of live pilots and contracts
4.New business opportunities and market segments
5.Time to cashflow positive
6.General/administrative updates
1. Recent Organizational and Operational Changes
As previously disclosed, the Company has consolidated operations to Hamilton, Ontario to improve communication and oversight and reduce operating costs, and has built a world class team of new technical, operational and sales staff.
To ensure that previous billing issues do not recur, the Company now performs automated eligibility screening of all patients prior to onboarding onto the iUGO Care platform. Further, the Company’s contracts now require payment from clients, irrespective of whether or not the client has been or expects to be reimbursed by CMS or another payer. The iUGO Care platform now provides adherence reports and other tools to help clients ensure compliance and maximize reimbursements.
2. CMS Billing Codes
The webinar will provide an overview of the reimbursement criteria and value of the relevant CMS billing codes for remote patient monitoring, telemedicine and chronic care management.
3. Live Pilots and Contracts
The Company is pleased to announce that it has gone live with two new pilots in California and new pilots in Alabama, Georgia, Montana and Pennsylvania. As previously disclosed, Reliq also has pilots ongoing in Australia and New Jersey. The Company will provide further updates on the pilots as each one either concludes or converts to a full contract. Reliq has also previously announced that it has recently gone live with multiple new contracts in Maryland, New Jersey and Texas.
4. New Business Opportunities
Reliq’s current pipeline includes clients in several new market segments, including Wound Care, Skilled Nursing Facilities, Dialysis Clinics, Medically-Supervised Weight Loss and Employee Wellness. The webinar will provide an overview of these market segments and Reliq’s relevant product offerings.
5. Cashflow Positive
Based on its current contracts, the Company expects to be cashflow positive in Q4 2019.
6. General Updates
The Company is pleased to report that it has received over $458,000 through warrant exercises in May and June.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the Community Care market. Reliq’s powerful iUGO Care platform supports care coordination and community-based healthcare. The iUGO Care platform integrates wearables, sensors, voice technology and intuitive mobile apps and desktop user interfaces for patients, clinicians and healthcare administrators. 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 and on the OTCQB as RQHTF.
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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.
