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HealthLynked Very Active In September, Adds Commonwealth Primary Care ACO To Complete A String Of Value-Creating Updates

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HealthLynked Very Active In September, Adds Commonwealth Primary Care ACO To Complete A String Of Value-Creating Updates

October 06
08:30 2020

HealthLynked Corp. (OTCQB: HLYK) is entering October with momentum after a string of value-creating announcements made during September. It’s most recent press announced a collaboration with Commonwealth Primary Care ACO on Thursday. The deal will allow HealthLynked and Commonwealth to develop a novel program to seamlessly share patient healthcare data among multiple providers. The partnership intends to improve patient care, decrease duplicative testing, and fill information gaps between providers treating the same patient.

The agreement with Commonwealth follows a series of value-creating events. Earlier this month, the company announced that it has paid back $1,054,345 of convertible debt, a move that eliminates the conversion of that debt into company stock. It follows the September pre-payment of three other convertible notes totaling $588,453 before they matured or were able to convert. The anti-dilutive pre-payments happened as a result of the company’s strengthening balance sheet and strong cash position. 

Also, in September, the company announced the launch of its new podcast on iTunes, Google, and Spotify. The initiative targets a trend showing a near doubling of podcast interest, with 50% of US homes reporting to be podcast fans and 55% of the population already listening to a podcast. The online show is expected to complement HealthLynked University, a program that already offers video content and provides an audio option for users who listen to educational podcasts.

Those three events follow another potentially significant value-creating deal with athenahealth Inc. That announcement marked the completion of its data integration with athenahealth to provide patients with easy access to their medical records. The agreement brings HealthLynked together with the pioneer in the online and mobile medical-data exchange sector, who showed how valuable being an innovator can after being acquired by Veritas Capital in 2018 for $5.7 billion.

September set the stage for growth in multiple directions. The deal with Commonwealth Primary Care ACO increases momentum.

Medical Records Exchange Efficiency

HealthLynked is proving that its platform can create value for its customers by providing accurate and up to date medical information to healthcare providers to provide the best care for their patients. The benefits are numerous, but the standout advantages of using the HealthLynked network is to help eliminate duplicate testing, reduce office wait times to obtain medical records, and eliminate redundant treatments that often lead to additional follow up visits and delays in diagnosis and treatment. 

The deal with Commonwealth addresses those advantages and helps monetize the growing trend of patients seeing their healthcare providers via telemedicine. That revenue model by online patient evaluation and care management is reimbursable under codes in the Private Payors and Medicare (CMS). Reimbursement for these services is based on record exchange between providers and patients, and from the professional time required to review these records with each patient.

HealthLynked points to nine different billable codes with reimbursements ranging from $16 up to $53. For HealthLynked, each review can generate a billable event, and there are no limits to how many times a patient’s records can be reviewed and exchanged between a healthcare provider and patient.

Moreover, HealthLynked’s Healthcare Network and patient engagement technology are uniquely designed to allow physicians to easily connect with patients, exchange medical information, and provide patient guidance in partnership. The agreement with Commonwealth Primary Care ACO has the potential to be a model for other ACOs to improve outcomes, reduce cost, and more effectively coordinate patient care.

ACO Agreement Follows Integration With athenahealth, Inc.

As noted, the deal with Commonwealth follows an agreement with athenahealth Inc. That deal pairs HealthLynked to one of the top EMRs in the country with over 160,000 healthcare provider users and 153 million patient records across 110 medical specialties. The company was an industry pioneer, offering a cloud-based revenue cycle solution geared towards large, multi-physician groups and hospitals. That deal can help generate accretive ways to generate revenue, and more updates may soon clarify that opportunity.

HealthLynked is also expecting to capitalize on other revenue-generating opportunities from its preferred providers using additional HealthLynked marketing tools to connect with their active and inactive patients. The more patients and providers learn about the platform, the more likely they will adopt its additional features. In turn, these services generate revenue for HealthLynked from its preferred providers paying a monthly fee to access these essential services. For patients and providers, it’s a win-win proposition.

A Busy September Sets Stage For Targeted Growth

September was a busy month for HealthLynked, and it sets the stage for growth in multiple directions. Reducing debt, eliminating the potential for stock dilution, and dealing with the largest medical-data sharing company in the world all create value. The newest deal with Commonwealth can create even more.

What appears to be a strategy to drive revenues from multiple sources seems to be coming together. Value from its HealthLynked University, its podcast series, and its coronavirus tracker can take advantage of the digital opportunities. And agreements with two large sector companies can deliver near-term revenue growth from a patient and provider population utilizing online services more than ever. 

Value sometimes lags performance. For HealthLynked, the rewards of its efforts may be nearing an inflection point with the bias leaning toward substantial shareholder-value creation.

To learn more, go to: https://get.ceo3in60.com/healthlynked/

 

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