Post by
lscfa on Nov 22, 2023 3:43pm
lopsided contracts
Reliq onboards patients and tries to get patients to comply with CMS minimum requirements for reimbursement (16 days of data readings per month). First attempts are automated voice messages. If that fails, care managers increase nagging. This is all at Reliq's expense.
If Reliq is able to get patients to comply and submit a minimum 16 readings per month then Reliq gets paid because physician gets a reimbursement from CMS. If Reliq gets < than 16 readings per month it does not get paid.
But 5, 10, 15 readings per month still benefits patient with fewer trips to emergency room and physician benefits by avoiding penalties (and possibly a share of cost savings) for frequent readmission by patient.
No wonder Cognizant does not want any part of this arrangement and Reliq had to raise funds to hire more care managers.
Comment by
lscfa on Nov 23, 2023 11:55pm
It's even more lopsided than I first pointed out. Physicians prescibe RPM/CCM for the eligible patients and then it's up to Reliq to get them to comply or the physician pays nothing to Reliq. So physician has no incentive to be selective. Just send every damn eliglble patient he can to Reliq to deal with.
Comment by
Lifeboat1 on Nov 24, 2023 2:12pm
It's not just Reliq it's the entire industry. It is still a relatively new industry with the only significant increase in usage post Covid. Despite what some claim Reliq experience working out and optimizing the model is only going to pay benefits in the future. It is likley thenreason they are landing large health plans.
Comment by
lscfa on Nov 24, 2023 3:45pm
Reliq is landing large health plans because it's throwing around Cognizant's name. But Cognizant is not going to supply care managers if Reliq keeps using the we-don't-get-paid-until-you-get-paid model. Thus the equity rasie to hire more care managers in house.
Comment by
lscfa on Nov 24, 2023 3:48pm
p.s. If asked I bet Reliq won't break down expenses to show how much it has used Cognizant outsourcing to date. I suspect it is zero.
Comment by
Lifeboat1 on Nov 24, 2023 5:25pm
Pure speculation on your part. Even if true, kidos to the CEO of a small Canadian healthcare company that can land Cognizant as a partner and as a result land top US health plans.
Comment by
Gangsterme on Nov 24, 2023 8:28pm
Lisa was president and CEO of Natrix when it was sold to Merck. She has had more corporate experience that few if any here. Many some might consider this when making comments, showing your ignorance. Kudos to her for sure.
Comment by
Peggy123 on Nov 25, 2023 10:03am
What was it at when she was CEO and what was it sold for. Important info Papi
Comment by
Lifeboat1 on Nov 25, 2023 12:18pm
It was a private Company sold to a public one. Terms were not disclosed
Comment by
Peggy123 on Nov 25, 2023 1:41pm
Thanks LB Why did i know that LOL Well she has said i belive she wants to take it as far as she can and sell and no you Papi haters,not near this price but in multiple dollars. Enjoy yoyr day peoples Papi
Comment by
teeswater on Nov 25, 2023 6:38pm
She will sell when it makes sense and makes millions for her...Papi haters can go F themselves
Comment by
Bucketshop on Nov 26, 2023 12:32am
NOBODY hates Papi. He is the best provider of GUARANTEED losses in any stock that most of us has ever seen. I retired at 46 going against anything he said. In fairness....he listens to Bruce Campbell
Comment by
kentucky77 on Nov 27, 2023 4:56pm
Hey BS (somewhat apprortate initials) you are sorrily mistaken... Papi did VERY well a couple years ago on TheScore when takenover by PENN. We accumulated solid positions over time and it was a blast on the buyout. Do yourself a favour and listen to his sage advice. Let's to do it again Papi!
Comment by
Peggy123 on Nov 27, 2023 6:07pm
Nice to hear from you 77. Hope all's well. How long did we have to wait,how many ups and downs,how frusterated we got and IT PAID OFF BIG TIME. Papi
Comment by
Bucketshop on Nov 27, 2023 6:14pm
Perfect,are you another one of his many ALIASES??? The spelling mistakes certainly sound like him. The SAGE advice I didnt take was...CMC, Fuel,Avn among others.
Comment by
EdinColorado on Nov 27, 2023 11:06pm
Always happy to hear of good things happening to people. Hoping to join you this time for a repeat. Thanks for the post, Kentucky.
Comment by
lscfa on Nov 25, 2023 1:11pm
Vitalhub was sold for a measly $3 million so no big whoop there.
Comment by
lscfa on Nov 25, 2023 1:36pm
Correction: Vitahub bought for a crummy $1.47 million (13.6 mill shs x $0.11)
Comment by
Lifeboat1 on Nov 24, 2023 1:19pm
The physicians are already around 20% with the patients they were managing and Reliq was above 70% with the patients they were managing per the Company's webinar a while back. Once Rliqngets all patients under their management and adherent revenue will increase significantly. Just getting it to 50% will more than double revenue in 2024
Comment by
theinvestor22 on Nov 24, 2023 1:26pm
Excellent posts Lifeboat. Thanks!