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Reliq Health enters profitability in December, 2017
2018-01-11 09:41 ET - News Release
Dr. Linda Crossley reports
RELIQ HEALTH TECHNOLOGIES REACHES OVER 6,000 PATIENTS LIVE ON ITS IUGO CARE PLATFORM, AND ANNOUNCES THAT THE COMPANY HAS ACHIEVED PROFITABILITY
Reliq Health Technologies Inc. closed 2017 with over 6,000 paid subscribers using its iUGO Care chronic-care management, remote patient-monitoring and telemedicine platform, representing recurring monthly revenue of over $300,000 (U.S.) per month. As a result, December, 2017, was the company's first month of profitability.
"We are excited to announce that we now have over 6,000 patients live on our iUGO Care platform," said Dr. Lisa Crossley, chief executive officer of Reliq Health. "The onboarding of patients is starting to accelerate as we move forward with our rollout to over 40,000 patients with the three current contracts in Texas. We are also very pleased to announce that we have achieved another critical milestone, as the company reached profitability in December, 2017. We continue to focus our efforts on the front-line care providers in the United States who are serving the over 37 million Medicare and Medicaid patients who have two or more chronic diseases such as diabetes, hypertension, chronic obstructive pulmonary disease (COPD) and congestive heart failure. This market will continue to grow as the population ages and expands, and as pressure from lawmakers and insurers to reduce health care spending increases. Our iUGO Care platform allows health care providers to pro-actively manage complex chronic care patients in the lower-cost community setting, reducing the need for costly acute interventions such as hospital stays, surgeries, long-term care admissions and emergency room visits."
Reliq's iUGO Care digital health solution provides high-quality virtual care in the community by creating a virtual hospital ward within the patient's home, automatically collecting vital signs and encouraging and tracking medication adherence. iUGO Care's unique interactive voice technology provides patients with audible alerts and reminders to take their medications, collect their vitals using Bluetooth-enabled monitoring devices and perform prescribed rehab or fitness activities. iUGO Care's two-way voice hub provides voice-activated access to patient education content, empowering patients and family members to pro-actively manage complex chronic conditions. Reliq's iUGO Care cloud platform instantly alerts the clinical care team if a patient develops key warning signs, allowing clinicians to intervene before a health crisis occurs, preventing costly and disruptive hospital readmissions and ER visits.
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