RE:RE:RE:RE:IR reply to themoneynarrativeYou seems to have a misunderstanding of the business model. The signed contract is an agreement for care providers to sell the service of the iUGO platform to their patient base. No matter how many patients are mentioned in the contracts each patient can have different steps to go through before onboarding can be done. You need the patient’s consent, his/her doctor’s recommendation, and then the insurers approval if paid by private insurance policies. The onboarding process is a timely procedure/paperwork depending on the individual patients background.
Breizh1 wrote: Takeactionnow wrote: I asked: “On point three of the second email reply (highlighted below), you indicated that the Texas billing code changed in January 2020. It had changed in 2019 too if I am not mistaken?” RHT.V’s investor relations replied: “Yes. The situation in 2019 directly impacted Reliq since the change essentially made home healths (Reliq’s customers for Texas Medicaid RPM) ineligible to bill for services. That was reversed after a few months. We are getting used to business disruption at the start of every calendar year due to changes in regulations.” lscfa wrote: Ask IR if this is a typo. It was jan/feb 2019 when Texas resolved coding. If this happened again in 2020 I would like a link as proof.
theinvestor22 wrote:
3) There was a change in the Texas Medicaid physician billing codes in January 2020 for remote patient monitoring care management. This change provides the physician practice with more flexibility and revenue but the codes did not work for several months and physicians were not reimbursed. The problem was expected to be fixed in weeks but wasn’t. This caused doctors to have less incentive to send New Medicaid patients to Home Healths for RPM services. The physicians are not Reliq’s customer in the Medicaid program like they are for Medicare patients.
The actual billing codes for managing the patient, data transmission and devices did not change and that activity is the responsibility of the Home Healths who are Reliq’s direct customer. The problem is fixed now and onboarding is increasing for that segment of the business.
Why ist that it seems only RHT is affected by the changes in rates/billing codes.??
But IR never clarifies the situation and numbers related to the changes. Is it because the billing admin is overwhemed or incompetent. And I would also be curious to know how easily the competitors can recruit patients from the so-called RHT clients. Is the contract binding? Or is it operating in similar fashion to cellphone clients. are clients either hopping to other remote patient monitoring systems or the clients are disappearing?. I am starting to have grave doubts about the accountability of RHT's administration.
If RHT cannot give us a count of signed up patients, I suspect that the reason is that it would be very damaging to the Co. Too bad because I was positive about this outfit.
I am long.
GLTA