TSXV:RHT.H - Post by User
Comment by
theinvestor22on Sep 21, 2023 2:26pm
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Post# 35647866
RE:Reliq Healthcare’s #1 Challenge
RE:Reliq Healthcare’s #1 ChallengeI'm hoping for a little more colour (think "data") when it comes to business progress on next week's session, but I thought I should just issue one small correction on your posting, which in part reads like this: "These measures don't appear to be having a significant impact on adherence, hence collections." Since Reliq only invoices for services which it knows CMS will reimburse, adherence issues should have no impact on collections.
Justforfun10 wrote: I believe it's LOW PATIENT ADHERENCE. Not patient adherence in following prescribed medication and treatment plans but taking and transmitting the required number of 16 days of patient data in a 30 cycle of monitoring in order for the healthcare provider to bill for the service. I expect that other healthcare companies that provide remote patient monitoring services face the same challenge although I can't find any published data on patient adherence rates. What is the incentive or disincentive for patients to be adherent? Better health outcomes? I suggest that many chronically ill patients feel that 16 health readings per month is too many and they can continue to use the service if they don't meet the billing criteria. A greater chance of re- hospitalization or admission? Again I suggest that many patients may feel that a couple of readings per week is sufficient. So what is the solution to improve patient adherence rates? Better training on software and hardware usage by the healthcare provider? Direct contact with the patients by RHT when they are at risk of not meeting the billing requirements? These measures don't appear to be having a significant impact on adherence, hence collections. Money is the greatest motivator so if subscribers could be paid monthly when they meet the criteria and RHT receives payment that could have an impact but I am confident it's not legal and would not be allowed by AMA or CMS. Could they give monthly discounts on hardware financing? Again, probably not permitted. So what is the solution? For now I believe it comes down to sheer volume. Perhaps in time RPM becomes mainstay and patients more adherent as greater health outcomes become widely known.