eWellness Healthcare Corporation (OTCMKTS:EWLL) shares jumped higher on Friday after the firm revealed that one of the largest third-party insurance administrators in the US, with patients in all 50 states, has commenced referring worker compensation patients to the company.
In late morning OTC trading, eWellness shares were 7% higher at $0.0655.
In a filing, the company said that, Initially, its PHZIO telemedicine platform will be used to treat patients in five states: California, New Jersey, Georgia, Tennessee and Arizona.
The physical therapy telehealth company announced on July 12 that it was targeting the $7 billion injury-prevention industry through sales and marketing.
In a statement then the company noted that, according to business-information provider IBISWorld, the Occupational Health and Workplace Safety Services industry in the US provides advice and assistance in the form of worksite evaluations, compliance audits, hazard assessments, facility-design reviews, indoor air-quality evaluations and training programs.
From 2013 and 2018, industry revenue increased at an annualized rate of 2.3% to $7.1 billion, it pointed out.
The California-based company, which has operations in the US and Canada, said the PHZIO platform 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.
The platform lowers treatment costs, expands treatment access and improves patient compliance, offering insurance-reimbursable, real-time, distance-monitored treatments.
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