Consumer Demand for Telehealth, Home Health Services Fueling Revenue Opportunities for Healthcare Companies
PALM BEACH, Florida, April 5, 2018 /PRNewswire/ --
Marketnewsupdates.com News Commentary
The Home Health Index (HHI), which tracks the market values of publicly traded companies in home health industry, increased 4.86% in February. Compared to other indexes, the HHI actually fared better than the S&P 500 last month. When February came to a close, the S&P 500 declined by 3.77% will the HHI almost increased 5%. A primary factor for the positive trend is the signing of The Bipartisan Budget Act of 2018 (BBA) on February 9. The BBA included several health care measures, including plans to construct a new home health payment system by 2020. Another bright spot in the industry includes the Telemedicine segment which is opening up new doors for those seeking care, bringing care conveniently into the home. Telehealth appears to be a growing component in provider's care strategy by looking for the means to implement home health services into their operations at some level. Active companies in the healthcare industry include: Reliq Health Technologies Inc. (OTC: RQHTF) (TSX-V: RHT), CVS Health Corporation (NYSE: CVS), Amedisys, Inc. (NASDAQ: AMED), LHC Group, Inc. (NASDAQ: LHCG), Health Insurance Innovations, Inc. (NASDAQ: HIIQ).
Reliq Health Technologies Inc. (OTCQB: RQHTF) (TSX-V: RHT.V) BREAKING NEWS: Reliq Health Technologies, a technology company that develops innovative mobile health (mHealth) and telemedicine solutions for the Community-Based Healthcare market, is pleased to announce the expansion of its contract with Paz Home Health LLC in Texas to provide its iUGO Care remote patient monitoring and telemedicine solution. The revised contract increases the number of Paz Home Health subscribers by 5,000 patients, bringing the total to over 15,000 patients total.This will generate over $9 Million USD in annual recurring revenue at full deployment, by Q4 2018.
"We are excited to announce that as a result of their implementation of the iUGO Care remote patient monitoring platform, our client Paz Home Health has been accepted as a Superior HealthPlan Approved Provider for in-home telemonitoring. Superior HealthPlan is a managed care organization that works with the State of Texas Health and Human Services Commission to deliver care through approved providers to Medicare and Medicaid patients. As a result of becoming an Approved Provider, Paz has increased their registered Medicare/Medicaid homecare clients to over 15,000 patients across Southern Texas," said Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. "Paz Home Health has successfully demonstrated the benefits of using Reliq's iUGO Care remote patient monitoring system to improve health outcomes and reduce hospital admissions and ER visits in their patients. Reliq's technology allows Paz Home Health's patients to receive high quality care from the comfort of their own homes, reducing the cost of care delivery and increasing patient and family satisfaction."
"Our mission at Paz Home Health is to provide peace of mind for patients and their loved ones," said Dayana Bermea, CEO. "We are excited to have achieved Superior HealthPlan Approved Provider status and look forward to continuing to grow our patient base in Southern Texas and throughout the State. At Paz Home Health we are always striving to provide our clients with best in class home healthcare."
Paz Home Health LLC is a Superior HealthPlan-approved home care provider headquartered in Pharr, Texas that provides care to patients across 16 counties in southern Texas. Paz Home Health delivers in-home care from Registered and Licensed Vocational Nurses, Physical and Occupational Therapists, Medical Social Workers and Dieticians. The company also offers telemonitoring services to connect patients with their care team from the comfort of their own homes. Paz Home Health's caring and qualified healthcare providers are committed to supporting patients and families who are coping with chronic conditions like Congestive Heart Failure (CHF), Chronic Obstructive Pulmonary Disease (COPD) and Diabetes, recovering at home from surgery or injuries, and seniors who are aging in place.. Read more about the Company announcement today along with other recent news releases for Reliq Health Technologies at: http://marketnewsupdates.com/news/rqhtf.html
In other Healthcare Industry developments:
CVS Health (NYSE: CVS) this week announced a new initiative focused on chronic kidney disease and dialysis, which builds upon the company's focus on driving innovation in the management of chronic disease to help improve patient health outcomes while managing costs. This new program will focus on early identification of kidney disease and expansion of home dialysis in order to optimize care for patients with chronic kidney disease. CVS Health's unique enterprise assets along with the company's introduction of a truly innovative new home hemodialysis technology, position the company as a positive disruptor in the field with the ability to help reshape and redefine the kidney care space.
Amedisys, Inc. (NASDAQ: AMED), one of the nation's leading home healthcare, hospice and personal care companies, received an average rating of 4.22 Stars out of a possible 5 for Quality of Patient Care across its home health care centers from the Centers for Medicare & Medicaid Services (CMS) January Star Ratings release. That figure is nearly 30 percent above the industry average and represents an almost 8 percent increase from Amedisys' Quality of Patient Care rating from a year ago. Also, 88 percent of Amedisys' home health care centers achieved a rating of 4 Stars or better.
LHC Group, Inc. (NASDAQ: LHCG) has announced the completion and effectiveness of its merger with Almost Family, Inc. (NASDAQ: AFAM). The transaction creates the second largest in-home healthcare provider in the country with an expanded geographic service territory of 36 states covering over 60 percent of the U.S. population aged 65 and over; the only national home health, hospice, and personal care provider with a long track record of successfully partnering with hospitals and health systems; and the highest quality provider, as measured by the Centers for Medicare and Medicaid Services star ratings, with a depth of talent, industry relationships, and a reputation for driving savings for payors and improving patient outcomes and experiences.
Health Insurance Innovations, Inc. (NASDAQ: HIIQ) closed up on Wednesday at $30 representing a 2.39% increase. HIIQ is a market leading cloud-based technology platform and distributor of innovative health insurance products that are affordable and meet the needs of health insurance plan shoppers. HIIQ helps develop insurance products through our relationships with best-in-class insurance companies and markets them via its broad distribution network of licensed insurance agents across the nation, its call center network and its unique online capability
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