Cognizant risk A comment from ceo.ca board got me thinking. Reliq is using Cognizant who must be paid but Reliq is not getting paid by clients if patients miss the 16 readings/month. So Reliq raises $6 million, $3.4 million of which is set aside to guarantee Cognizant gets paid. This means Crossley has made a huge bet that hiring Cognizant will get adherence numbers up to a level where client payments to Reliq will exceed payouts to Cognizant. Reliq shareholders taking all the risk.
$3,400,000 to "Hire, train and deploy (virtual roles - no travel required) new Care Managers to support immediate deployment under the recent contracts listed above."
@permanentvacation Maybe this has already been addressed here, but in the interview with Shields, he said the following "For our care management team, we rely on Cognizant to provide the majority of our staffing there, and that’s going to continue into the future. They bring on people as needed, and we really rely on them to bring in teams, and then we train them and they continually add to the staff that’s needed so it puts less burden on us to bring in care managers as we’re growing." I can't see Cognizant working for free, so how is this sort of service been paid for? I assume there is sufficient cash flow to cover off care management services and if not, does it become an AP? Once again, apologies if this has already been discussed
"Hire, train and deploy (virtual roles - no travel required) new Care Managers to support immediate deployment under the recent contracts listed above."