Skylight Health Begins Patient Onboarding for GatherMed Roll-Out with Insurable Reimbursement Revenue
TORONTO, ON – February 2, 2021 – Skylight Health Group Inc (TSXV:SHG; OTCQX:SHGFF) (“Skylight Health” or the “Company”), one of the largest multi-specialty healthcare systems in the United States, is pleased to announce an operational update on its Remote Care Services Clinical Agreement with GatherMed to provide Skylight patients with Remote Patient Monitoring (“RPM”) tools and services for patients with hypertension. The initial roll-out adds immediate revenue from insurable services, and this number is expected to increase as the Company continues to execute its goal of rolling the program out nationally to its roster of 150,000 patients.
- Over 45% or approximately 135 million Americans suffer from hypertension in the US.
- Skylight patients will benefit significantly from access to tools to optimize health outcomes.
- Insurance expected to reimburse recurring US $160/month or US $1,920/year per patient registered.
- The average clinic with 1,500 patients using the device can expect to bill up to US $2.9 million per year as per minimum guidelines set by US industry payors.
- Skylight will move to offer Remote Patient Monitoring to its current roster of 150,000 patients nationally throughout 2021.
Utilization and deployment of RPM devices has seen exponential growth over the last few years, especially after the impact of the COVID-19 Pandemic. As more patients seek to remain safe and at home, managing care and communicating with their health care provider has never been more crucial. RPM devices are getting broader support from regulatory agencies as tools that complement the patient journey, allowing physicians and care teams to remotely monitor, track and support their patients’ needs.
Skylight has launched its GatherMed RPM devices through its newly acquired Washington clinic. Integration with Skylight’s technology platform has shown to enable quicker access to information by the Skylight Health team. Skylight retains 100% of the earnings from insurable reimbursements from US payors. Reimbursable benefits include a one-time payment of US $21 per patient and then an average recurring payment of up to US $160 per patient per month. Annually, this could garner up to US $1,920 per patient using the device as per minimum guidelines set by the payor groups. Skylight currently has over 150,000 patients of which an estimated 40% qualify to benefit from this program.
“Our team understands the importance of organic growth, and it continues to be a priority for us as we consolidate the US healthcare market,” said Prad Sekar, Co-founder an CEO of Skylight Health. “GatherMed works with our physician practices and insurance providers to reduce readmissions, increase patient satisfaction, and organically scale and expand the suite of services we offer to our clients.”