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.
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“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 [email protected]