eWellness Healthcare Corp. (OTCQB: EWLL) specializes in physical therapy teleheath treatment and services, through its PHZIO platform. Shares of the telehealth company jumped 33.33% on Thursday, October 19, 2017. Over the past month, eWellness Healthcare Corp. has seen average daily volume of 347,270 shares. However, volume of 1.44 million shares or dollar volume of $230,400, exchanged hands during trading on Thursday.
Shares of eWellness Healthcare Corp. jumped 33.33% on Thursday, after the company announced that it has signed a 5-year comprehensive physical therapy services agreement with Endeavor Plus Services, Inc., a fast growing healthcare administration company. Management estimates that the new agreement will generate around $4.2 million in annual reoccurring gross revenue for the company. However, if the Endeavor Plus continues to see strong growth, eWellness Healthcare Corp. could see revenues jump even further. The partnership will go live with patients on January 1, 2018. Here is the full press release detailing of the healthcare services partnership:
eWellness Healthcare Corp. Press Release:
Culver City, CA,, Oct. 19, 2017 (GLOBE NEWSWIRE) — eWellness Healthcare Corp. – (OTCQB: EWLL) – a provider of the state of the art PHZIO Platform for the physical therapy and telehealth markets, announced today that it has signed a Signs 5-Year Comprehensive Physical Therapy Services Agreement with Endeavor Plus Services, Inc. (“EPS”), an fast growing healthcare plan administrator. EPS projects having approximately 100,000 healthcare members by the beginning of 2018. According to eWellness, this new agreement is anticipated to generate initially up to $4.2 million in annual reoccurring gross revenue for the Company. This level of sales is anticipated to allow the Company to gain cash flow positive operations during the early part of 2018. Additionally, if EPS is able to continue on their projected growth rate over the next 12-18 months that could generate at least 500,000 new members, which in turn could generate at least $100 million in reoccurring gross annual revenue to eWellness.
eWellness and EPS intend to immediately commence system, sales and marketing integration, in order to position eWellness to begin onboarding and treating EPS members by January 1, 2018.
EPS is a third-party administrator (TPA), which is an organization that processes insurance claims or certain aspects of employee benefit plans for small and medium sized companies.
EPS is projecting to grow rapidly in the small group health insurance market which has annual premiums of over $384 billion per year. Approximately 84% of this market is traditional full insurance. EPS is expected to grow rapidly by offering these small employers the ability to self insure through excellent plan design and reinsurance. EWLL is excited to be chosen as their physical therapy gatekeeper as well as wellness program supplier.
EWLL’s comprehensive PT & wellness programs and consulting services are anticipated to provide EPS with new products that will: (1) build new sales channels that increase their current health insurance business, and (2) create new revenue sources through the introduction of such products.
Concierge PT Medical Services: EWLL will be provisioning to EPS insureds a new and highly unique patient treatment protocol, that includes “white glove” concierge in-home or in-office physical therapy assessments and digital care treatments in order to enhance the medical treatment and help improve patient treatment outcomes. EWLL will become the exclusive provider of “white glove” concierge in-home or in-office physical therapy assessments, digital physical therapy and a wellness program to the individuals covered by EPS. EWLL has been selected to be the gatekeeper for all EPS physical therapy treatments. As the PT treatment gatekeeper, EWLL will conduct an online consultation with each patient to assess the complexity involved with the patient presentation. From the online consultation, an in-home or in-office evaluation of the patient may be prescribed. Through this initial evaluation, a plan of care will be designed for each patient that in most cases is anticipated to include digital therapy sessions.
PreHabPT: All individuals covered by EPS, that are seeking (non-emergency) orthopedic surgery shall first receive a concierge online consultation, in-home or in-office physical therapy evaluation and will be prescribed a 4-8 week prehabpt.com exercise program prior to any surgery. Another in-home or in-office physical therapy evaluation will be made following surgery and a treatment plan will be initiated. PreHabPT is up to an 8-week physician to patient pre-surgical (Prehab) digital therapeutic exercise treatment system for patients that anticipate having total join replacement (knee, hip and or shoulder) or back surgeries. Patients may complete these digital therapeutic exercises either monitored or unmonitored.
PurePT: PurePT is a patient & independent PT digital treatment platform for connecting new patients to PT’s that are seeking to be treated with our PHZIO treatment system. Patient program assessments can be made in the privacy of a patient home or office. PurePT connects new patients to PT’s, particularly in states that have direct access rules where patient’s insurance will reimburse for treatment without requiring a physician’s prescription. PurePT puts the patient first!
PHZIO Comprehensive Wellness Program: Any EPS insureds may after an in-home or in-office physical therapy assessment, enroll in a 6-month comprehensive wellness program. The top line wellness goals of our PHZIO wellness exercise program is to graduate at least 60% of inducted patients through our 6-month program. Patients should expect to experience an average of a 20% reduction in BMI, a 2-inch reduction in waist size, weight loss of at least 10 pounds, significant overall improvement in balance, coordination, flexibility, strength, and lumbopelvic stability. Patients also should score better on Functional Outcomes Scales (Oswestry and LEFS), which indicates improved functional activity levels due to reduced low back, knee and hip pain.
About Endeavor Plus, Inc. (EPI)
Endeavor Plus, Inc. (EPI’), the parent company of Endeavor Plus Services, Inc., has taken the lead in a movement to assist small group employers to leave fully insured health plans and instead use partially self-funded ERISA qualified health insurance plans that are new and innovative and embrace a new era of Consumer-Driven Health Care Planning (CDHC). EPI’s mission is to bring about innovative changes using existing law and regulations to change the traditional health insurance models to drive down healthcare costs while offering significantly better benefits to both small and midsize group employers and their employees.
This is accomplished further by having these employers and their employees participate in the Endeavor Plus Plan, a CDHC program with technology-driven Health Care Programs that are affordable, manageable and responsive to the demand for higher quality care with cost transparency, integrated health information and better provider access and communication and better outcomes.
The Endeavor Plus model is supported by five key pillars:
➢ PLAN DESIGN Our single comprehensive plan design eliminates guesswork, simplifies enrollment, and provides straightforward data.
➢ PROVIDER ACCESS Our open access network allows plan members the freedom to use the doctor or hospital of their choice.
➢ EMPLOYEE ENGAGEMENT Our market-leading employee engagement creates healthier outcomes, and healthier bottom lines.
➢ TOP-RATED INSURANCE COVERAGE Allows clients to rest assure they are covered in the event of higher than expected claims costs.
➢ RISK LEVELING REINSURANCE COVERAGE Our revolutionary, patent-pending program allows for a first-of-its-kind premium stability.
With EPI, small and mid-size group employers can:
➢ Offer a partially self-funded plan that focuses on employee wellness, education, and engagement that puts employers in an advantageous position to attract and retain valuable employees who are the beneficiaries of savings, control, transparency and the freedom and flexibility to manage their healthcare plan.
➢ A plan that may include not only major comprehensive medical coverage, telemedicine, dental and vision coverage coupled with a funded Health Savings Account (HSA), all of which are protected by top-rated reinsurance carriers. Their HSA offering is paired with a ‘smart’ High-Deductible Health Plan that keeps premiums low for everyone. Additionally, plan members have access to a multitude of all-encompassing voluntary benefits that address their individual healthcare needs.
About eWellness Healthcare Corp.
eWellness Healthcare Corp. (OTCQB: EWLL) is the first physical therapy telehealth company to offer insurance reimbursable real-time distance monitored treatments. Our business model is to license our PHZIO (“PHZIO”) platform to any physical therapy (“PT”) clinic in the U.S. and or have large-scale employers use our PHZIO platform as a fully PT monitored corporate wellness program. The Company’s PHZIO home physical therapy exercise platform has been designed to disrupt the $30 billion physical therapy and the $8 billion corporate wellness industries. PHZIO re-defines the way physical therapy can be delivered. PHZIO is the first real-time remote monitored 1-to-many physical therapy platform for home use. Due to the real-time patient monitoring feature, the PHZIO platform is insurance reimbursable.
The PHZIO Solution: A New Physical Therapy Delivery System
|●||SaaS technology platform solution for providers bundling rehabilitation services and employer wellness programs;|
|●||First real-time remote monitored 1-to-many physical therapy treatment platform for home use;|
|●||Ability for physical therapists to observe multiple patients simultaneously in real-time;|
|●||Solves what has been a structural problem and limitation in post-acute care practice growth; and|
|●||Allows PT practices to generate increased revenues due to higher adherence and compliance rates.|
Safe Harbor Statement
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements (within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this press release reflect the good faith judgment of our management and are based on facts and factors currently known to us. Forward-looking statements are subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements as a result of either the matters set forth or incorporated in this press release generally or certain economic and business factors, some of which may be unknown to and/or beyond the control of the Company. Specifically, we are exposed to various risks related to our need for additional financing to support our technology development, the sale of a significant number of our shares of common stock could depress the price of our common stock, acquiring or investing in new businesses and ongoing operations, we may incur losses in the future and the market price of our common stock may be volatile. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We do not undertake, and we expressly disclaim, any obligation to revise or update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of the press release.