Proactiveinvestors USA & Canada eWellness Healthcare Corp. https://www.proactiveinvestors.com Proactiveinvestors USA & Canada eWellness Healthcare Corp. RSS feed en Tue, 18 Jun 2019 19:59:49 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - eWellness Healthcare forms operating companies to expand telehealth offerings to 48 states ]]> https://www.proactiveinvestors.com/companies/news/222072/ewellness-healthcare-forms-operating-companies-to-expand-telehealth-offerings-to-48-states-222072.html eWellness Healthcare Corporation (OTCMKTS:EWLL), the physical therapy telehealth company, has rejiggered its corporate structure in order to operate in 48 US states.

The company has created three operating companies in California, New Jersey and Florida in order to connect with patients in those states.

The Florida company, PHIZIO Florida Professional Association, is able to offer services in 46 states, while the other two are tailored to their individual locations.

READ: eWellness Healthcare to launch a digital occupational therapy platform by the end of 2019

Each company will create an operating agreement with eWellness, as required by the states, resepctively.

Eventually, the company plans to form companies in Delaware and Kansas, the two remaining states not covered by the new entitites.

CEO Darwin Fogt will serve as the single shareholder, officer and director of all three companies.

eWellness’ PHIZIO platform provides long-distance digital physical therapy on a patient’s smartphone or other device. The company licenses its platform to physical therapy clinics in the US and its treatments are insurance reimbursable.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Thu, 13 Jun 2019 09:37:00 -0400 https://www.proactiveinvestors.com/companies/news/222072/ewellness-healthcare-forms-operating-companies-to-expand-telehealth-offerings-to-48-states-222072.html
<![CDATA[News - eWellness Healthcare to launch a digital occupational therapy platform by the end of 2019 ]]> https://www.proactiveinvestors.com/companies/news/220609/ewellness-healthcare-to-launch-a-digital-occupational-therapy-platform-by-the-end-of-2019-220609.html eWellness Healthcare Corporation (OTCMKTS:EWLL) announced Monday that it will develop and launch a digital occupational therapy platform by the end of this year.

“Based upon interest by various third-party insurance administrators, we are excited to create a digital occupational therapy platform similar to our PHZIO PT treatment platform,” said eWellness Healthcare CEO Darwin Fogt in a statement.

According to IBIS World, the US occupational therapy market was valued at approximately $24.3 billion in 2017.

READ: Florida passes telehealth law, opening door to out-of-state providers like eWellness Healthcare

“When coupled with the PT and speech therapy markets, this will provide eWellness Healthcare with three distinct silos of ancillary health care services with a combined market size of approximately $90 billion per year in the US,” said Fogt.

As a physical therapy telehealth company, eWellness Healthcare offers insurance-reimbursable, real-time, distance-monitored treatments. The company’s PHZIO platform lowers treatment costs, expands treatment access and improves patient compliance.

The company's goal is to transform the way the estimated $35 billion market for physical therapy works in the US by licensing its PHZIO platform to physical therapist clinics.

The Culver City, California-based company has operations in the US and Canada.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Mon, 20 May 2019 09:03:00 -0400 https://www.proactiveinvestors.com/companies/news/220609/ewellness-healthcare-to-launch-a-digital-occupational-therapy-platform-by-the-end-of-2019-220609.html
<![CDATA[News - Florida passes telehealth law, opening door to out-of-state providers like eWellness Healthcare ]]> https://www.proactiveinvestors.com/companies/news/220244/florida-passes-telehealth-law-opening-door-to-out-of-state-providers-like-ewellness-healthcare-220244.html Florida lawmakers have passed a bill making telehealth more viable for patients in the Sunshine State.

The state’s House of Representatives unanimously approved HB 23, which previously passed 30-9 in the state Senate, sending it Gov. Ron DeSantis’ desk. Pending his signature, the bill is scheduled to go into effect on July 1.

The bill creates a process for out-of-state telehealth providers to offer services in Florida by registering with the state Department of Health.

The changes are a boon for providers like eWellness Healthcare Corporation (OTCQB: EWLL), which offers telehealth physical therapy. The new bill will allow the California-based company with operations in the US and Canada to offer services in Florida and remotely diagnose patients with its PhizioFit exam.

READ: eWellness bolsters video library, launches PhizioFit health assessment

HB 23 establishes a framework for telehealth in the state, defining it broadly as “the use of synchronous or asynchronous telecommunications technology by a telehealth provider to provide health care services.”

Asynchronous communications also allows providers to send their patients videos without having to communicate live. Additionally, physicians can also now use telehealth to make diagnoses without first having to evaluate patients in person, a departure from previous laws.

In some cases, such as the treatment of psychiatric disorders, inpatient hospital treatment, hospice patient care and nursing home residents, telehealth providers will be able to prescribe controlled substances.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Tue, 14 May 2019 11:17:00 -0400 https://www.proactiveinvestors.com/companies/news/220244/florida-passes-telehealth-law-opening-door-to-out-of-state-providers-like-ewellness-healthcare-220244.html
<![CDATA[News - eWellness bolsters video library, launches PhizioFit health assessment ]]> https://www.proactiveinvestors.com/companies/news/220158/ewellness-bolsters-video-library-launches-phiziofit-health-assessment-220158.html eWellness Healthcare Corporation (OTCMKTS:EWLL) is ramping up its digital treatment library and launching a wellness screening product.

The physical therapy telehealth company said Monday it is adding about 235 exercise and stretching videos featuring Tara Pollak, the company’s director of US physical therapists.

READ: Telehealth is revolutionizing healthcare, offers ‘low-cost, mass-scaling’ opportunity, says eWellness CEO

Meanwhile, the Culver City, California company unveiled PhizioFit, formerly WellFit, a health analysis offered to the company’s current and anticipated workman compensation participants and to large-scale employers.

PhizioFit includes an online screening test performed by a physical therapist designed to create a comprehensive body health assessment. The results of the test can be used as a roadmap for users to develop a therapeutic exercise plan.

The stock fell 5.3% to $0.09 in midday trading on yhe OTC QB exchange.

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Mon, 13 May 2019 11:55:00 -0400 https://www.proactiveinvestors.com/companies/news/220158/ewellness-bolsters-video-library-launches-phiziofit-health-assessment-220158.html
<![CDATA[News - Telehealth is revolutionizing healthcare, offers ‘low-cost, mass-scaling’ opportunity, says eWellness CEO ]]> https://www.proactiveinvestors.com/companies/news/219825/telehealth-is-revolutionizing-healthcare-offers-low-cost-mass-scaling-opportunity-says-ewellness-ceo-219825.html Telehealth is the natural evolution of health care in the digital world and empowers physical therapists to remotely interact with patients, which greatly improves the efficiency and affordability of health care, according to a white paper authored by eWellness Healthcare Corp (OTCQB:EWLL) CEO Darwin Fogt.

Nearly 74% of polled patients in the US would use telehealth if it was offered, Fogt writes in the report, which as  published in Impact magazine.

“Many times, patients who are experiencing musculoskeletal discomfort can be assessed through a video evaluation and prescribed exercises that will help resolve their issue,” he writes.

DEEP DIVE: eWellness Healthcare sparks digital revolution in physical therapy

“Other times, patients may just need a quick answer to a question regarding stretching or postural education. Due to the unparalleled access to care, patients who might have otherwise sought care for low back pain from an urgent care center, for example, won’t have to absorb those costly interventions, and they are saved the time and effort of getting themselves to a care center,” Fogt writes.   

The advent of interoperable electronic health records (EHR), secure cloud storage, and wearable health trackers have incentivized consumers to jump on to the telehealth bandwagon.

“Rural communities that may not have a physical therapist within miles can now access a physical therapist’s expertise through a technology platform to get the help the patients need,” he explains.

Enhancing care

Fogt, who co-founded eWellness Healthcare, writes that telehealth offers “unprecedented levels” of access to care for the patient and “a low-cost, mass-scaling opportunity for the practice.”

“Cash-based, post discharge maintenance programs can easily be delivered via telehealth,” writes Fogt. “In addition, informative lectures and real-time online virtual group classes are now possible as a new revenue stream.”

As a physical therapy telehealth company, eWellness Healthcare offers insurance-reimbursable, real-time, distance-monitored treatments. The company’s PHZIO platform lowers treatment costs, expands treatment access and improves patient compliance.

The company is on a quest to transform the way the estimated $35 billion market for physical therapy works in the US by licensing its PHZIO platform to physical therapist clinics. The Culver City, California-based company has operations in the US and Canada.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Tue, 07 May 2019 14:01:00 -0400 https://www.proactiveinvestors.com/companies/news/219825/telehealth-is-revolutionizing-healthcare-offers-low-cost-mass-scaling-opportunity-says-ewellness-ceo-219825.html
<![CDATA[News - eWellness Healthcare to offer its PHZIO TeleRehab platform on Sunlife Lumino Health Network ]]> https://www.proactiveinvestors.com/companies/news/219727/ewellness-healthcare-to-offer-its-phzio-telerehab-platform-on-sunlife-lumino-health-network-219727.html eWellness Healthcare Corp (OTCQB:EWLL) said Monday that it’s now able to book patients on the Sunlife Lumino Health Network via its PHZIO TeleRehab service.

The physical therapy telehealth company’s PHZIO service will now be available to visitors on the Lumino ecosystem, with additional details to come in the next 30 days, eWellness said.

READ: eWellness Healthcare is creating a telehealth speech therapy platform to launch later in 2019

The PHZIO platform can be used by physical therapy patients from home with a smartphone. The Lumino platform connects patients with health care professionals, which eWellness said empowers Canadians to live healthier lives.

eWellness is the first company of its kind to offer insurance-reimbursable, real-time, distance-monitored treatments. PHZIO lowers treatment costs, expands treatment access and improves patient compliance, the California-based company with operations in Canada said.

Shares of eWellness rose fractionally to $0.10 per share in Monday trading.

Contact the author at paul.curcio@proactiveinvestors.

Follow him on Twitter @GoCurcioGo

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Mon, 06 May 2019 10:52:00 -0400 https://www.proactiveinvestors.com/companies/news/219727/ewellness-healthcare-to-offer-its-phzio-telerehab-platform-on-sunlife-lumino-health-network-219727.html
<![CDATA[News - eWellness Healthcare is creating a telehealth speech therapy platform to launch later in 2019 ]]> https://www.proactiveinvestors.com/companies/news/219408/ewellness-healthcare-is-creating-a-telehealth-speech-therapy-platform-to-launch-later-in-2019-219408.html eWellness Healthcare Corp (OTCMKTS:EWLL) plans to develop and launch a digital speech therapy platform by the end of 2019, the company announced Tuesday.

The telehealth company will model its speech therapy offering on its PHZIO physical therapy platform.

Occupational and speech therapy in North America is a $27.9 billion industry, CEO Darwin Fogt said in a statement, citing numbers from the Business Research company. This has garnered the attention of insurance companies.

READ: eWellness looks to train physical therapists in its digital PT program

“Based upon interest by various third party insurance administrators, we are excited to create a digital speech therapy platform,” Fogt said. “ . . . We currently anticipate that this new digital speech treatment platform would be avatar-based and could utilize our initial consultation one-to-one platform and then move the patient to our one-to-many treatment platform.”

The California-based company expects to build the new product in its Ottawa, Ontario office.

eWellness is the first company of its kind to offer insurance reimbursable real-time distance monitored treatments. It’s PHZIO platform can be used by physical therapy patients at home on their smartphones.

eWellness shares slipped 8.7% to $0.11 on Tuesday. 

Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com

Follow him on Twitter @andrew_kessel

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Tue, 30 Apr 2019 16:33:00 -0400 https://www.proactiveinvestors.com/companies/news/219408/ewellness-healthcare-is-creating-a-telehealth-speech-therapy-platform-to-launch-later-in-2019-219408.html
<![CDATA[Media files - eWellness Healthcare carves a path to deliver 2019 goals ]]> https://www.proactiveinvestors.com/companies/stocktube/12778/ewellness-healthcare-carves-a-path-to-deliver-2019-goals-12778.html Thu, 28 Mar 2019 16:34:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12778/ewellness-healthcare-carves-a-path-to-deliver-2019-goals-12778.html <![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, 2018 compared with the year-ago quarter. Its cash pile also mounted over the nine months until the end of September, climbing to $27,675 from $6,882.

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

-- This article has been updated to correct the size of the company's cash pile, which stood at $27,675 at the close of September 2018, not at $27 million as was mistakenly stated --

 

 

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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