Proactiveinvestors USA & Canada eWellness Healthcare Corp. https://www.proactiveinvestors.com Proactiveinvestors USA & Canada eWellness Healthcare Corp. RSS feed en Sun, 24 Mar 2019 12:17:36 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Telehealth provider eWellness Healthcare announces convertible debt consolidation strategy ]]> https://www.proactiveinvestors.com/companies/news/216779/telehealth-provider-ewellness-healthcare-announces-convertible-debt-consolidation-strategy-216779.html eWellness Healthcare Corp (OTCMKTS:EWLL) announced Tuesday a convertible-debt-consolidation strategy to attract additional financing.

“If completed, this consolidation could have a positive effect to the company’s share price,” eWellness Chief Financial Officer David Markowski said in a statement.

Shares of eWellness traded at $0.12 in Tuesday’s late-afternoon OTC Markets trading.

READ: eWellness eyes Georgia after state approves favorable telehealth bills

The Culver City, California, company is working to make its Phzio platform the leader in the new industry of digital telehealth physical therapy (dPT).

A goal is to demonstrate that a majority of future physical therapy treatments can be accomplished with a smart phone.

Earlier this month, eWellness said it was looking at Georgia as a market after its lawmakers signed off on a pair of telemedicine bills that permit out-of-state healthcare providers to deliver virtual care in state.

–This story has been updated to give the latest stock trading–

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 19 Mar 2019 10:55:00 -0400 https://www.proactiveinvestors.com/companies/news/216779/telehealth-provider-ewellness-healthcare-announces-convertible-debt-consolidation-strategy-216779.html
<![CDATA[News - eWellness eyes Georgia after state approves favorable telehealth bills ]]> https://www.proactiveinvestors.com/companies/news/215735/ewellness-eyes-georgia-after-state-approves-favorable-telehealth-bills-215735.html eWellness Healthcare Corp (OTCQB:EWLL), a physical therapy telehealth company, is eyeing Georgia as a market after its lawmakers signed off on a pair of telemedicine bills that permit healthcare providers in other states to deliver virtual care in the state.

The first of the two bills approved in the state’s senate gives permission to healthcare providers from other states like eWellness to treat patients in Georgia so long as they meet the state’s regulations. The second bill establishes rules for coverage and sets guidelines for telehealth and telemedicine.

READ: eWellness Healthcare sparks digital revolution in physical therapy

Based in Culver City, California, eWellness offers an online course of physical therapy treatments. It is looking to license its PHZIO platform to physical therapy clinics and have employers use the PHZIO platform as part of corporate wellness programs.

“Our PHZIO platforms allows patients and physical therapists to cut the cord from the old-school, wait in line, brick and mortar clinical experience to an immediate response digital, in-home physical therapy experience,” said Darwin Fogt, eWellness’s CEO in a statement.

According to eWellness, about 80% of all physical therapy assessments and treatments can be done on a patient’s smartphone while at home.

eWellness shares held steady at $0.13 in morning trade on Monday.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Mon, 04 Mar 2019 09:51:00 -0500 https://www.proactiveinvestors.com/companies/news/215735/ewellness-eyes-georgia-after-state-approves-favorable-telehealth-bills-215735.html
<![CDATA[News - eWellness looks to train physical therapists in its digital PT program ]]> https://www.proactiveinvestors.com/companies/news/215061/ewellness-looks-to-train-physical-therapists-in-its-digital-pt-program-215061.html eWellness Healthcare Corp (OTCQB:EWLL) announced Thursday that it has kicked off a weekly PHZIO system webinar training program for physical therapists who would like to become experts in treating patients via its digital course of physical therapy.

The new program has been set up to recruit more physical therapists to take on cases coming from existing and future workman’s compensation contracts handled by eWellness.

READ: eWellness Healthcare sparks digital revolution in physical therapy

“Our focus is to highlight that a majority of all future physical therapy treatments can be accomplished with a smart phone,” said Darwin Fogt, eWellness’s CEO in a statement. “This new digital adoption will lower patient treatment costs, expand patient treatment access and improve patience compliance.”

So far, over 200 physical therapists have been trained on eWellness’s PHZIO platform.

Based in Culver City, California, eWellness is a physical therapy telehealth company that offers an online course of physical therapy treatments. It is looking to license its PHZIO platform to physical therapy clinics and have employers use the PHZIO platform as part of corporate wellness programs.

According to eWellness, about 80% of all physical therapy assessments and treatments can be done on a patient’s smart phone while at home.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

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Thu, 21 Feb 2019 09:26:00 -0500 https://www.proactiveinvestors.com/companies/news/215061/ewellness-looks-to-train-physical-therapists-in-its-digital-pt-program-215061.html
<![CDATA[Media files - eWellness Healthcare to launch its new version of its PHZIO Digital Treatment Platform ]]> https://www.proactiveinvestors.com/companies/stocktube/12028/ewellness-healthcare-to-launch-its-new-version-of-its-phzio-digital-treatment-platform-12028.html Tue, 29 Jan 2019 14:38:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/12028/ewellness-healthcare-to-launch-its-new-version-of-its-phzio-digital-treatment-platform-12028.html <![CDATA[News - eWellness launches new body health assessment exam under WellFit brand ]]> https://www.proactiveinvestors.com/companies/news/213435/ewellness-launches-new-body-health-assessment-exam-under-wellfit-brand-213435.html eWellness Healthcare Corp (OTCMKTS:EWLL) said Monday that it is launching WellFit, a new body health assessment exam, on its Phzio Digital treatment platform for the physical therapy and telehealth markets.

The WellFit assessment exam is a 10-point health analysis valued at $199. It will initially be offered to the company’s current and anticipated workman compensation participants and to large-scale employers.

However, the product may eventually become a direct-to-consumer offering. The WellFit product can be offered to participants for at least a 50% discount to the retail value, said eWellness.

READ: eWellness Healthcare announces Version 3.0 of Phzio Digital treatment platform

The WellFit exam is an online screening test designed to provide the participant with a comprehensive body health assessment. The results of the test will help guide the participant to areas that may need more focused efforts to allow them to engage in a healthier and pain-free lifestyle.

The online exam will be performed in real-time by a licensed doctor of physical therapy. Physical therapists are uniquely qualified to assess and prescribe exercise-based interventions based around movement deficiency and dysfunction, said the compnay.

The WellFit advantage

The test takes 20 to 30 minutes and involves assessments related to posture, movement screens, balance, range of motion, strength related to core and upper body, stability, flexibility and cardiovascular health, said the company.

A participant will then have the option of purchasing an add-on therapeutic exercise plan from the physical therapist designed to address the needs of the individual.

The Culver City, California-based company recently launched Version 3.0 of its Phzio Digital treatment platform which marks the next step in defining the state of the art for physical therapists treating patients remotely.

The company said some of the new features include a custom patient booking page for physical therapists to indicate availability, patient pain and location indicators and patient video journals.

Phzio 3.0 will also support a new patient marketplace that allows partner enterprises to funnel patients into a virtual-care environment under a pre-negotiated contract. The platform allows patients and physical therapists to “cut the cord from the old-school, wait in line, brick and mortar clinical experience” to a digital, in-home experience, said the company.  

Nearly 80% of all physical therapy assessments and treatments can now be done on a patient’s smartphone in the privacy of their own home, said eWellness.

 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Mon, 28 Jan 2019 10:22:00 -0500 https://www.proactiveinvestors.com/companies/news/213435/ewellness-launches-new-body-health-assessment-exam-under-wellfit-brand-213435.html
<![CDATA[News - eWellness Healthcare announces Version 3.0 of Phzio Digital treatment platform ]]> https://www.proactiveinvestors.com/companies/news/213362/ewellness-healthcare-announces-version-30-of-phzio-digital-treatment-platform-213362.html eWellness Healthcare Corp (OTCMKTS:EWLL) said Friday that it has launched Version 3.0 of its Phzio Digital treatment platform for the physical therapy and telehealth markets.

The Culver City, California-based company said the new version marks the next step in defining the state of the art for physical therapists treating patients remotely.

BIG PICTURE: eWellness Healthcare sparks digital revolution in physical therapy

The company said some of the new features include a custom patient booking page for physical therapists to indicate availability, patient pain and location indicators and patient video journals.

Phzio 3.0 will also support a new patient marketplace that allows partner enterprises to funnel patients into a virtual-care environment under a pre-negotiated contract.

For example, a third-party administrator could channel workers’ comp patients into the patient marketplace, with participating physical therapists allocated patients based on availability and specialty.

Phzio 3.0 and the patient marketplace will be available in beta versions starting February 1, according to the company.

Shares fetched $0.18 in Thursday’s OTC Markets trading.

Last month, the company said it was bringing its services to Texas after the state’s board of physical therapy examiners included telehealth as a treatment option.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.

 

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Fri, 25 Jan 2019 09:39:00 -0500 https://www.proactiveinvestors.com/companies/news/213362/ewellness-healthcare-announces-version-30-of-phzio-digital-treatment-platform-213362.html
<![CDATA[Media files - eWellness Healthcare readies workman's compensation contracts to fulfill 2 years of revenue ]]> https://www.proactiveinvestors.com/companies/stocktube/11881/ewellness-healthcare-readies-workman-s-compensation-contracts-to-fulfill-2-years-of-revenue-11881.html Thu, 17 Jan 2019 13:49:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11881/ewellness-healthcare-readies-workman-s-compensation-contracts-to-fulfill-2-years-of-revenue-11881.html <![CDATA[News - eWellness Healthcare sparks digital revolution in physical therapy ]]> https://www.proactiveinvestors.com/companies/news/211522/ewellness-healthcare-sparks-digital-revolution-in-physical-therapy-211522.html Could a virtual revolution be coming to the world of physical therapy? Imagine that instead of visiting a physical therapist (PT) for a follow-up after surgery, you log onto your smartphone and exercise under digital guidance.

That’s the brainchild of Douglas MacLellan, Darwin Fogt, Curtis Hollister and David Markowski, the co-founders of eWellness (OTCQB:EWLL). They are on a quest to upend the way the estimated $35 billion market for physical therapy works in the US.

Fogt struck up a friendship with MacLellan over six years ago while working as his physical therapist after a bout of back surgery. “Doug went and experienced this physical therapy and it healed him and he lost like 60 pounds,” remembers Markowski. “It changed his life.”

A management team was formed, which grew to include Hollister, a top Canadian tech executive, and Markowski, an ex-investment banker, who were also friends of MacLellan’s. Together, a method was devised to deliver physical therapy as a digital rehabilitation program.

In a traditional PT setting, you go to a clinic where a therapist assesses your condition, does an evaluation, sets up a plan of care and sends you home with a sheet of stick-figure exercises you’ve got to complete. Additional visits are booked to check on progress and modify treatments.

Cracks showing in traditional PT model

But there are flaws here. Patients don’t do the exercises when they leave the clinic. Or they might live in a place where not enough physical therapists are available. The US Department of Veterans Affairs, for example, routinely flies veterans from Alaska to San Diego, California, to get them physical therapy, points out Markowski. People might also see improvement and opt to let trips to the PT fall by the wayside.  Visits could also be delayed by weeks due to scheduling conflicts.

Consider eWellness’s Phzio model by comparison. With the help of a library of nearly 1,100 exercises, a physical therapist can go to this online portal “PHZIO” and set up a regime capable of handling close to 70% of the issues a patient is suffering from, with the exception of severe or more complex injuries.

The online method allows for physical therapy to be provided within hours, with assessments given via a cyber connection that comes complete with real-time monitoring and audio and text-message feedback. Additional sessions are set up and a litany of follow-on exercises is prescribed. So, even flight attendants trapped in airport lounges can take part.

“We have built tools that allow us to objectively assess a patient’s range of motion and also do motion capture of particular movements. We capture all of this on video in a HIPAA compliant way,” says Markowski, referring to the government regulations that protect sensitive patient data.

PHZIO system handles multiple patients at once

For therapists, the system offers the chance to handle multiple clients at the same time. “The problem on the physical therapy side is that you have physical therapists who aren’t making enough money to pay off their school loans,” reports Markowski. “This is an industry that’s becoming squeezed and it hasn’t been able to deploy technology.”

The PHZIO system is robust enough to handle 30 different patients online at the same time – though the suggestion is for there to be a maximum of six patients in a session at one time.

READ: eWellness Healthcare to bring at-home physical therapy to Texas smartphone users

Insurers also stand to benefit as the costs they pay per session for physical therapy are greatly reduced. They also see more patients seek out physical therapy instead of a trip to a general practitioner that might end in a costly X-ray or MRI ($2,600) or a year’s prescription for opioids ($6,000).

“If you get patients to physical therapy first, you can avoid MRIs,” notes Markowski. “If we can get people into a physical therapy setting, there’s a higher chance of reducing the pain, solving the problems and accelerating healing without all the cost and absenteeism.”

Uber-style disruption likely

Markowski compares the impact eWellness intends to make to the way Uber disrupted the art of hailing taxis. “We could easily be by the end of next year, the largest physical therapy provider much like Uber is the largest ride company without having any drivers,” according to Markowski.

In Uber-style fashion, if the eWellness model takes hold, Markowski envisages conducting business with an expansive network of therapists. “So, all you do is get online whenever you want to and there’s a therapist there who will pick you up,” he says.

The staff at eWellness, which is based in Culver City, California, is lean at roughly 20 and there are no plans to employ an army of physical therapists directly. “My model is very much like an Uber model. For the most part, we’re going to utilize all contract labor just like Uber,” he says. “We’re just matching up the supply to the demand and we’re doing it in such a way that it’s cost-effective,” he added.

The pre-revenue company saw its loss shrink 39% to $1.1 million from $1.8 million in the three months until September 30 compared with the year-ago quarter. Its cash pile also mounted over the same period, climbing to $27.7 million from $14.4 million.

Posing financial headwinds are the challenges eWellness faces in getting physical therapists themselves to convert to an online system. “We have PTs and we’re getting new ones every day that come out and love this and serve it out of their clinic,” says Markowski. “But it’s not converting at the pace we want to see.”

Workers comp programs are key to profits

The company’s financial outlook is turning sunny, with the recent signing of a contract with First MCO, a managed care organization based in New Jersey that keeps a lid on costs for workers’ compensation programs. Indeed, workers comp is a bonanza for eWellness as case managers in this arena are charged with bringing care to patients while saving costs.

Several additional multi-million dollar contracts of this sort are expected in the coming weeks and eWellness’s management expects to see its first sales next quarter. “We’re engaging in contracts that will put us nationwide pretty quickly. We’re getting contracts signed this month and we have to start delivering on them in January,” says Markowski. “We’re scaling rapidly and our profit margins will improve.”

Another coup is that since November, US Medicare, which provides subsidized medical insurance for Americans over 65, has moved towards paying for telerehabilitation sessions. This will greatly increase the number of insurers who pay for eWellness’s services as many track Medicare when opting to back claims.

The company also boasts a wellness program, which aims to use exercise as a preventive way to ward off disease. Its efforts drew interest from several government agencies looking to make their workforce more robust on a recent trip by Markowski to Washington, DC.

Looking ahead

eWellness is a bet on an industry that is in need of digital therapy. Even if the company were to gain less than 1% of market share in the $35 billion industry, it would still end up with a valuation of $1bn by Markowski’s estimates.

The management team at eWellness is bullish that success will come, with Fogt moving to sell his nine physical therapy clinics just a couple of months ago.

Could it be that the traditional route of physical therapy will go the way of the CD or the video cassette thanks to the wireless advance?

“That model will be gone based on what we’re doing,” concludes Markowski. “Our Phzio platform allows patients and physical therapists to cut the cord from the old-school brick and mortar clinical experience.”

Contact Ellen Kelleher at ellen@proactiveinvestors.com

 

 

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Wed, 19 Dec 2018 12:13:00 -0500 https://www.proactiveinvestors.com/companies/news/211522/ewellness-healthcare-sparks-digital-revolution-in-physical-therapy-211522.html
<![CDATA[Media files - eWellness Healthcare says physical therapy a $33 billion market in US ]]> https://www.proactiveinvestors.com/companies/stocktube/11614/ewellness-healthcare-says-physical-therapy-a-33-billion-market-in-us-11614.html Thu, 13 Dec 2018 15:25:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11614/ewellness-healthcare-says-physical-therapy-a-33-billion-market-in-us-11614.html <![CDATA[Media files - eWellness announce major deal that could transform company ]]> https://www.proactiveinvestors.com/companies/stocktube/11480/ewellness-announce-major-deal-that-could-transform-company-11480.html Wed, 05 Dec 2018 22:21:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11480/ewellness-announce-major-deal-that-could-transform-company-11480.html <![CDATA[Media files - eWellness Healthcare looks to reduce health costs with teleconferencing rehab ]]> https://www.proactiveinvestors.com/companies/stocktube/11446/ewellness-healthcare-looks-to-reduce-health-costs-with-teleconferencing-rehab-11446.html Tue, 04 Dec 2018 23:17:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11446/ewellness-healthcare-looks-to-reduce-health-costs-with-teleconferencing-rehab-11446.html <![CDATA[Media files - eWellness Healthcare wants to establish the Uber of physical therapists ]]> https://www.proactiveinvestors.com/companies/stocktube/11431/ewellness-healthcare-wants-to-establish-the-uber-of-physical-therapists-11431.html Tue, 04 Dec 2018 14:32:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11431/ewellness-healthcare-wants-to-establish-the-uber-of-physical-therapists-11431.html <![CDATA[News - eWellness Healthcare to bring at-home physical therapy to Texas smartphone users ]]> https://www.proactiveinvestors.com/companies/news/210501/ewellness-healthcare-to-bring-at-home-physical-therapy-to-texas-smartphone-users-210501.html eWellness Healthcare Corporation (OTCQB:EWLL) is bringing new treatment options to patients in need of physical therapy in Texas.

The Texas Board of Physical Therapy Examiners has included telehealth as a treatment option to patients physically located in the state.

READ: Q BioMed’s Metastron acquisition ‘positive development,’ advances pipeline, says Brookline Capital Markets

Its Phzio platform offers insurance reimbursable telehealth physical therapy that can be accessed via a smartphone.

Patients can start a video call to receive a diagnosis and a treatment plan.

"We have created a strong path to lowering the spending on physical therapy claims through the utilization of our PHZIO digital PT treatment platform and are happy to be in a position to share our revolutionary cost savings technology with patients in the great state of Texas,” said CEO Darwin Fogt in the company’s press release.

Fogt is hopeful that use of the platform will lower patient treatment costs, expand access to treatment and improve patient compliance.

The company values the physical therapy market at $30 billion.

Shares of the California-based company were up 7% to $0.20 in Tuesday trading.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter: @LenoreMariee

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Tue, 04 Dec 2018 09:57:00 -0500 https://www.proactiveinvestors.com/companies/news/210501/ewellness-healthcare-to-bring-at-home-physical-therapy-to-texas-smartphone-users-210501.html